Published July 10, 2025 at 12:30 PM
Canada Raises Financial Requirements for Study Permit Applicants Starting September 2025
Canada will raise the cost-of-living requirement for study permit applicants to CAD 22,895 starting September 1, 2025, as announced by IRCC.
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July 10, 2025
Ottawa, July 2025 International students planning to study in Canada will soon face higher financial thresholds for proving their ability to support themselves during their stay. Starting September 1, 2025, the Government of Canada will implement a significant increase in the minimum cost-of-living requirement for study permit applicants.
According to the latest announcement from Immigration, Refugees and Citizenship Canada (IRCC), the new cost-of-living threshold for a single applicant will be raised to CAD 22,895, up from the previous requirement of CAD 20,635. This marks an increase of over CAD 2,000, or approximately 11%.
"The revised amount reflects updated living costs across Canada and aims to ensure students are financially secure during their studies," IRCC stated in a release.
Applies Nationwide — Except Quebec
This new requirement will apply to all provinces and territories except Quebec, which has its own financial criteria for international students. Importantly, the cost-of-living amount is in addition to other financial requirements such as:
- ✅ First year’s tuition fees
- ✅ Travel expenses to and from Canada
- ✅ Support for accompanying family members, if applicable
Breakdown of Updated Living Expense Requirements
Here’s the full breakdown of required funds based on family size (excluding tuition and travel):
| Number of Family Members (Including Applicant) | Funds Required Per Year (CAD, Excluding Tuition) Effective September 2025 | Current Amount of funds required per year (not including tuition) | Percentage Chang |
|---|---|---|---|
| 1 person | $22,895 | $20,635.00 | 10.95% |
| 2 people | $28,502 | $25,690.00 | 10.95% |
| 3 people | $35,040 | $31,583.00 | 10.95% |
| 4 people | $42,543 | $38,346.00 | 10.95% |
| 5 people | $48,252 | $43,492.00 | 10.94% |
| 6 people | $54,420 | $49,051.00 | 10.95% |
| 7 people | $60,589 | $54,611.00 | 10.95% |
| Each additional family member | $6,170 | $5,559.00 | 10.99% |
Acceptable Proof of Funds
Applicants can demonstrate their financial readiness using any of the following:
- Bank statements (last 4 months)
- Canadian bank account in the applicant’s name
- Guaranteed Investment Certificate (GIC)
- Proof of a student loan or education loan
- Documents proving scholarships or Canadian program funding
- Letter from a sponsor, if applicable
Applications Before September 1
Students submitting their study permit applications before September 1, 2025, will continue to be assessed based on the existing financial threshold of CAD 20,635.
Policy Rationale
The IRCC stated that aligning the cost-of-living requirement with Canada's Low-Income Cut-Off (LICO) is part of broader efforts to ensure student well-being, reduce financial stress, and prevent exploitation by ensuring students have adequate resources from the outset.
Study permit: Get the right documents - Proof of financial support - Canada.ca
By John B Pattassery
Marketing Coordinator, MWT Consultancy
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