Studying in Canada just got costlier: Ottawa tightens financial bar; here's what it means for Indians students
The Canadian government's latest guidelines for international students aim to ensure that they are more financially secure during their time in the country without having to take up a job there. The new guidelines will come into effect on 1 September 2025.
The revised policy mandates prospective international students, including those from India, to demonstrate sufficient financial capacity to cover their tuition fees, higher living expenses, and transportation costs without relying on employment in Canada.
Therefore, after September, the Indian students planning to study in Canada will have to ensure that they have ₹ 14,33,861 (CAD $22,895) per year in their bank account as the cost-of-living requirement. This is excluding tuition fees.
This cost-of-living requirement for a single applicant has risen from the previous threshold of CAD $20,635 ( ₹ 12,92,322).
The required funds will scale upwards depending on the number of accompanying family members. For example, an applicant with two dependents will now have to show ₹ 21,94,475 (CAD $35,040) in available funds annually.
The changes apply to all provinces and territories, with specific provisions for Quebec.
Family Size Funds required
(Before 1 Sept 2025) (CAD) Funds required
(After 1 Sept 2025) (CAD) Approx funds required
(After 1 Sept 2025) (INR) 1 20,635 22,895 14,33,687 2 25,690 28,502 17,84,798 3 31,583 35,040 21,94,208 4 38,346 42,543 26,64,047 5 43,492 48,252 30,21,545 6 49,052 54,420 34,07,786 7 54,611 60,589 37,94,089 Each additional 5,559 6,170 3,86,366
Receipts confirming payment of tuition and accommodation fees
A Guaranteed Investment Certificate (GIC) from a recognised Canadian financial institution
Bank statements from the past four months
Documentation of an approved education or student loan
A Canadian bank account in the student's name
Letters detailing financial support or scholarship awards
Proof that funds can be legally transferred to Canada (applicable to applicants from countries with foreign exchange restrictions)
For multi-year programs, proof of payment for the first year's tuition is required
Indian students wishing to study in Quebec must meet separate financial requirements set by the ministère de l'Immigration, de la Francisation et de l'Intégration.
In addition to tuition, the international students planning to study in Quebec must show funds to cover transportation, living expenses, settlement fees, and health insurance.
1. Cost-of-living requirement
Under 18: ₹ 4,85,682 (CAD $7,756)
4,85,682 (CAD $7,756) 18 or over: ₹ 9,71,113 (CAD $15,508) 18 or over: ₹ 14,24,294 (CAD $22,745)
14,24,294 (CAD $22,745) 18 or over and one person under 18: ₹ 15,95,498 (CAD $25,479)
15,95,498 (CAD $25,479) Two persons under 18: ₹ 17,21,990 (CAD $27,499)
3. Settlement fees (first year only): ₹ 31,310 (CAD $500)
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