International students applying for a Canadian study permit from Sept 1, 2026 will have to demonstrate that they have at least Canadian dollars (CAD) 23,448 available for living expenses (if they are headed to a province or territory other than Quebec).
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The amount is in addition to tuition fees and transportation costs. The requirement applies to the student as well as any accompanying family members, with the amount increasing according to family size.
The new threshold represents an increase from the current requirement of CAD 22,895, applicable to applications made between Jan 1, 2025 and Aug 31, 2026.
The change is part of Canada's annual adjustment of the financial requirement for international students. Immigration, Refugees and Citizenship Canada (IRCC) states that the amounts are updated each year.
From CAD 10,000 to CAD 23,448 in three years
While the latest increase is relatively modest, the financial requirement has changed substantially over the past few years. Until the end of 2023, students were required to demonstrate CAD 10,000 for living expenses. In January 2024, the requirement was more than doubled to CAD 20,635 to meet rising costs especially those related to housing. It has subsequently been adjusted upwards each year.
Gurpreet Oshan, a regulated Canadian immigration consultant (RCIC), says the September 2026 increase should be viewed in the context of this broader change. “The increase taking effect on Sept 1, 2026, should be understood as part of Canada’s annual adjustment of the financial requirement for international students, rather than as a standalone policy restriction.”
For a single student, the requirement rises from CAD 22,895 to CAD 23,448. “While the increase this year is relatively modest, the larger shift in Canada’s international student policy is significant. Until 2023, students were required to demonstrate only CAD 10,000 for living expenses, a figure that had become completely disconnected from the actual cost of living in Canada. The government substantially increased the requirement in 2024 and has since moved to annual adjustments based on cost-of-living data, Oshan says.
How much money will students need to show?
For applications made on or after Sept 1, 2026, the following amounts apply to all provinces and territories except Quebec.
| Number of family members, including applicant | Living expenses required per year (In CAD) |
| 1 | 23,448 |
| 2 | 29,192 |
| 3 | 35,888 |
| 4 | 43,572 |
| 5 | 49,419 |
| 6 | 55,736 |
| 7 | 62,054 |
| Each additional family member | 6,318 |
These amounts are for living expenses only and do not include tuition or transportation costs.
For example, a student travelling to a province other than Quebec with two family members would have to show CAD 35,888 for living expenses for one year. Tuition and transportation costs would have to be demonstrated separately.
How the requirement has changed
| Application period | One student | Increase by |
| Until 2023 | CAD 10,000 | — |
| From January 2024 | CAD 20,635 | More than doubled |
| January 2025–August 2026 | CAD 22,895 | CAD 2,260 |
| From September 1, 2026 | CAD 23,448 | CAD 553 |
For prospective students and their families, meeting the prescribed amount should not be seen as sufficient by itself. IRCC says applicants must prove that they have enough money, without working in Canada, to pay for tuition, living expenses for themselves and accompanying family members, and transportation to and from Canada.
Applicants have to demonstrate that they have sufficient financial resources for the first year of their studies. If the programme is longer than one year, they must also explain how they intend to finance the full duration of their studies.
Oshan says this is an important distinction for applicants. “Meeting the minimum dollar figure does not automatically establish financial capacity. Immigration officers assess the source, availability and sustainability of the funds, and for programs longer than one year, applicants are also expected to demonstrate how they intend to finance the remainder of their studies.”
In other words, applicants need to demonstrate not just that the required money exists, but that the financial plan supporting their education and stay in Canada is credible.
What can students use as proof of funds?
IRCC lists a range of documents that can be used to demonstrate financial capacity. It says the list is not exhaustive, and applicants do not necessarily need to provide every document listed. They need to provide sufficient evidence to establish that they meet the financial requirements.
Some examples include:
| Source of funds | Examples of supporting documents |
| Tuition and study costs | Proof that first-year tuition and housing fees have been paid; student or education loan |
| Scholarships | Proof of scholarship or participation in a Government of Canada-funded educational programme |
| Employment income | Recent pay stubs |
| Financial support from another person/institution | Support letter, evidence of the sponsor's employment or occupation, relationship to applicant and amount of support |
| Canadian bank account | Proof of a Canadian bank account in the student's name |
| Investments | Guaranteed Investment Certificate (GIC) from a Canadian financial institution |
| Bank savings | Bank statements for Canadian or foreign accounts for the past six months |
| Other income | Pension-plan documents or proof of rental income |
IRCC says bank statements should cover the past six months, including the month the application was submitted or the month immediately before it. Documentation showing the source of income — such as employment income or savings transfers — should accompany the statements.
Where a student is being financially supported by another person, documentation should establish the relationship between the applicant and the person providing the money, as well as the nature and extent of the support. The supporting documentation may include the sponsor's employment information, pay stubs and identification or business-registration evidence.
Paying tuition upfront does not replace proof of living expenses
Students who have already paid their first-year tuition and housing fees can use the receipt as part of their financial documentation. However, IRCC makes clear that this must be accompanied by other evidence showing that the student has sufficient funds for living expenses and transportation.
Similarly, if a scholarship covers tuition but not living expenses, the applicant has to provide additional evidence demonstrating sufficient funds for those expenses.
Financial planning becomes more important
For Indian families in particular, Oshan says the new requirement reinforces the need to plan finances well before the study-permit application is submitted.
“For Indian families planning Canadian education, this means financial planning needs to happen much earlier. The question is no longer simply whether a family can arrange enough money to meet a minimum balance at the time of application.”
Instead, families need to be prepared to demonstrate how the student's education and stay will be financed. “They need to be able to demonstrate a credible and sustainable financial plan for the student’s education and stay in Canada. The higher threshold could make Canada less accessible to some students, although it also brings the immigration requirement closer to the economic reality students face once they arrive,” says Oshan.
What about students going to Quebec?
IRCC notes that Quebec establishes its own cost-of-living threshold for international students seeking to study at educational institutions in the province. Applicants seeking a Quebec Acceptance Certificate (CAQ) must demonstrate that they can financially cover the costs specified by Quebec's Ministère de l’Immigration, de la Francisation et de l’Intégration.
Therefore, students planning to study in Quebec need to meet the applicable Quebec financial requirements rather than relying on the federal figures for other provinces and territories.
