Canada Increases Study Permit Proof Of Funds

Planning to study in Canada? One important requirement you need to pay attention to is proof of financial support.

For study permit applications submitted on or after September 1, 2026, a single student applying to study in Canada outside Quebec must show $23,448 CAD for their first year of living expenses.

NOTE: This $23,448 is for living expenses only. It does NOT include tuition fees or transportation. Applicants must also demonstrate that they have enough money to cover those costs.

If you’re bringing family members, the required living-expense amount increases:

1 person — $23,448
2 people — $29,192
3 people — $35,888
4 people — $43,572

IRCC says applicants can use documents such as bank statements, a GIC, education loans, scholarships and other acceptable financial documents to demonstrate their ability to pay.

Do you think this proof-of-funds requirement is becoming a major barrier for people who want to study in Canada, or do you think the amount is still reasonable considering the cost of living? Let’s hear your thoughts in the comments.
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