Canada hikes funds required for international student permits

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Canada will increase the amount of money international students must show for living expenses when applying for a study permit from September 1, 2026.

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Immigration, Refugees and Citizenship Canada in a post on X on Friday said a single student applying from outside Quebec will be required to demonstrate access to C$23,448 for living expenses, up from C$22,895 under the current requirement.

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The new figure represents an increase of C$553, or about 2.4 per cent.

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The financial requirement is separate from tuition fees and transportation costs.

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Applicants must also demonstrate that they have enough money to cover these expenses for themselves and any family members accompanying them to Canada.

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For students travelling with family members, the amount required will rise according to the size of the accompanying family.
nThe requirement will be C 35,888 for three, C 49,419 for five.

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Students travelling with six family members will need to show C 62,054. For each additional family member beyond seven, applicants will need to demonstrate an additional C$6,318 in living expenses.

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IRCC said the amounts are reviewed annually to ensure they reflect changes in the cost of living in Canada.

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The department also said the financial requirements are intended to help protect international students from financial hardship and exploitation.

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Applicants must demonstrate that they can cover tuition fees, living expenses and transportation costs to and from Canada for themselves and any accompanying family members.

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For study programmes lasting more than one year, applicants must also explain how they intend to finance their studies for the full duration of the programme.

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The new financial thresholds will apply to study permit applications submitted from September 1, 2026.

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