Canada raises study permit funds requirement to C$23,448 from September 1

Canada will increase the financial requirement for international students applying for study permits from September 1, 2026, with a single student required to show C$23,448 for living expenses.

Immigration, Refugees and Citizenship Canada (IRCC) announced the increase on Friday as part of its annual adjustment of financial requirements to keep pace with the cost of living and help protect international students from exploitation.

The amount required for living expenses is separate from tuition fees and transportation costs, which applicants must also show they can afford.

What IRCC is saying

The IRCC says the new requirement for a single student outside Quebec will increase to C$23,448 from September 1, compared with C$22,895 for applications submitted between January 1, 2025, and August 31, 2026.

• This represents an increase of C$553, or about 2.4%.
• For students travelling with family members, the required amount will increase according to the number of family members accompanying them.
• The requirement will be C$29,192 for two family members and C$35,888 for three family members.
• It will rise to C$43,572 for four family members, C$49,419 for five, C$55,736 for six and C$62,054 for seven.

For each additional family member beyond seven, applicants will need to demonstrate a further C$6,318 in living expenses.

These amounts cover living expenses only and do not include tuition fees or transportation costs.

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

• “We update financial requirements for study permit applicants each year to keep pace with the cost of living and help protect international students from exploitation,” the immigration authority said.

Applicants must demonstrate that they have sufficient funds to cover tuition fees,…