Canada Updated Financial Proof Requirements for International Students on Study visa from September 1, 2025

IRCC has updated the requirements for financial support for International Students applying for a Canada Study Visa, with revised rules coming into effect from 1st September, 2025.

The IRCC Official announces that the minimum funds necessary for daily expenses, except travel and tuition, will increase drastically for Canada study permit candidates. These changes reflect the increasing cost of living in Canada and focus on ensuring International students are financially stable before arriving.

Financial Support for Study Permit Applications

The latest figures apply to all the provinces and territories, excluding Quebec, which decides its financial criteria. The table below shows the annual cost of living requirements for every study permit application filed on or after 1st September, 2025:

There is a significant increase from the previous quota of $20,635 for a single candidate, showing a nearly $2300 hike in the official proof of financial support.

Quebec Official Financial Requirements

Students who intend to continue their education must provide official financial documentation that meets the requirements set forth by the Ministry of Immigration, Francisation, and Integration (MIFI). These limits are not in line with the federal guidelines and are updated individually.

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Required Proof of Financial Assistance

Candidates on a study visa must show proof to prove that they can support themselves or any other additional family members without a job in Canada. IRCC accepts various forms of financial proof, including:

• Paid tuition and housing fees proof
• A Canadian bank account in the name of the applicant
• Certificate of Guaranteed Investment from a Canadian Financial Institution
• Education and Student Loan from a Reputable bank
• The last 4 months' bank statements
• Convertible Bank Draft to Canadian dollars
• Financial Support Letter from a School or Sponsor
• Verified financial documents or a scholarship from within Canada

In addition, if the candidate’s home country has foreign exchange controls, they should submit valid proof that finances can be transferred legally to Canada.

Significance of Qualifying Funds Requirements

Failing to submit valid proof of financial stability is a common reason for rejecting study permits. Students are advised to submit complete financial documentation and stay updated with the revised guidelines before applying.

IRCC examines these financial thresholds every year and modifies them following Canada’s low-income cut-off (LICO) to reflect current economic situations.

Final Thoughts

Canada is the most popular destination for international students due to its diverse society and top-notch educational system. Candidates should plan their finances well in advance of the 1st September 2025, the introduction of the new financial requirements.

For those who are planning to study in Canada as an international student, staying updated with the recent changes in Canadian immigration is vital to ensure a successful application process.

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Source: canada.ca

Tags: Financial Proof Requirements for International Students Canada Study visa Study Permit study in Canada Canadian immigration news study visa Canada Immigration News