Big Update for International Students Applying to Canada

The Government of Canada has announced a new financial requirement for international students applying for a study permit starting September 1, 2025.

If you're planning to study in Canada, it's important to understand this recent change and how it may affect your visa application and financial planning.

What’s Changing?

·        Previous Requirement (Until August 31, 2025):
International students had to show CAD 20,635 as proof of funds to cover their living expenses (outside of tuition) for one year in Canada.
Effective since: January 1, 2024

·        New Requirement (From September 1, 2025):
Students now must show a minimum of CAD 22,895 for living expenses.
New effective date: September 1, 2025

This is a CAD 2,260 increase in the financial proof requirement for single international students. 

What is Financial Proof for a Study Permit?

To get a study permit in Canada, students must show they have enough funds to cover:

1.     Tuition fees

2.     Living expenses for themselves

3.     Additional funds for any accompanying family members (if applicable) 

Updated Financial Requirements for a Single Student (2025)

Note: Tuition varies depending on institution and program. Always check your actual tuition fee on the offer letter. 

Why Was the Financial Requirement Increased?

The Canadian government adjusts the cost-of-living requirement to reflect inflation and ensure students can truly support themselves during their stay.

This increase helps:

·        Ensure students don’t face financial hardship once in Canada.

·        Support sustainable immigration practices.

·        Prevent misuse or underestimation of living costs. 

Who Does This Apply To?

·        This change only applies to new study permit applications submitted on or after September 1, 2025.

·        Students who apply before this date will still be assessed under the CAD 20,635 requirement. 

How Can Students Show Proof of Funds?

Acceptable proof includes:

·        Bank statements (last 4–6 months)

·        Education loan documents

·        GIC (Guaranteed Investment Certificate)

·        Sponsor’s bank balance (with affidavit, if applicable)

·        Proof of scholarship/funding (if awarded) 

What Should You Do Now?

·        If you're planning to apply before September 1, 2025, ensure your documents show at least CAD 20,635.

·        If applying after this date, update your financial documents to reflect the new CAD 22,895 requirement.

·        Speak to your educational consultant or immigration advisor for guidance on how to meet the new financial criteria. 

Need Help?

At Studify International, we are ready to assist you with:

·        Updated financial planning

·        Study visa documentation

·        Education loan support

·        Admission to top Canadian institutions

Contact us today and secure your dream to study in Canada!

Contact us: +977-9741673399

Email: info@studify.au