Starting September 1, 2025, international students planning to study in Canada will face new financial requirements. According to Immigration, Refugees and Citizenship Canada (IRCC), students must now show proof of at least $22,895 CAD to cover living expenses—an increase of over $2,000 from the previous requirement of $20,635. This change reflects Canada’s rising cost of living and aims to ensure that students can support themselves while studying.
This blog will walk you through the latest IRCC update, how it affects you, and how ICC Immigration can support your journey toward a successful study and permanent residency pathway in Canada.
📌 What’s Changing for Canada Study Permits in 2025?
If you’re submitting a study permit application on or after September 1, 2025, you’ll need to show more funds to prove that you can support yourself (and your family, if applicable) during your time in Canada.
New Annual Living Expense Requirements:
| Family Size | Minimum Funds Required |
|---|---|
| 1 Person | $22,895 |
| 2 People | $28,502 |
| 3 People | $35,040 |
| 4 People | $42,543 |
| 5 People | $48,252 |
| 6 People | $54,420 |
| 7 People | $60,589 |
| Additional Member | $6,170 per person |
This amount is in addition to your first-year tuition fees and travel expenses, which you must also prove you can cover.
The update affects all international students applying outside Quebec and is designed to provide a realistic reflection of living costs in Canada’s major cities and communities.
📄 What Counts as Proof of Funds?
To meet the financial requirements, IRCC accepts various documents:
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Bank account statements in your name (last 4 months)
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Guaranteed Investment Certificates (GICs) from Canadian financial institutions
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Student or education loan approval from a recognized bank
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Bank drafts convertible to Canadian dollars
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Letters of financial support from family, sponsors, or institutions
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Scholarship documentation (if applicable)
Make sure these documents are clear, up-to-date, and translated into English or French if originally in another language.
🧭 How ICC Immigration Can Help You Secure Your Future in Canada
At ICC Immigration, we understand the dreams and challenges that come with choosing to study and settle in Canada. Navigating the complex immigration landscape requires more than just paperwork—it requires trusted expertise and long-term planning.
Here’s how we can support your journey:
🎓 Study Permits & Work Permits
We assist students in choosing the right Designated Learning Institution (DLI) and ensure that your study permit aligns with your future permanent residency (PR) goals. For working professionals, we help secure LMIA-based or LMIA-exempt work permits, which can later support PR applications.
🛂 Permanent Residency Applications
Our team specializes in Express Entry, Provincial Nominee Programs (PNPs), and pilot programs that suit your background, education, and experience. We’ll assess your eligibility and guide you through a personalized PR strategy.
👨👩👧👦 Family Sponsorship
Want to bring your loved ones to Canada? We help you reunite with family through spousal, dependent child, or parental sponsorships, ensuring a smooth and timely process.
⚖️ Legal & Strategic Immigration Advice
Don’t risk your future with uninformed decisions like asylum claims. Our licensed immigration experts provide you with accurate legal advice, tailored to your goals, so you can build a stable and secure life in Canada.
🚨 Why the Financial Increase Matters
IRCC’s decision reflects a wider effort to better match real-world costs and reduce the financial vulnerability of international students. As housing, food, and transportation costs rise, it’s critical that students come prepared.
The number of study permit rejections has also increased due to weak financial documentation, so it’s more important than ever to work with a professional team like ICC Immigration to get it right the first time.
🧑💼 Final Thoughts: Secure Your Spot in Canada the Right Way
Whether you’re still abroad or already in Canada, planning your immigration journey smartly can be the difference between success and rejection. With increased financial requirements and tighter immigration controls, now is the time to act decisively.
🎯 Let ICC Immigration guide you through every step—from securing your study permit to building a pathway to permanent residency.
📞 Contact us today for a personalized consultation and take the first step toward a secure and successful future in Canada.