Canada has increased the minimum amount international students must show for living expenses when applying for a study permit, with the new proof-of-funds requirement taking effect on September 1, 2026.
Under the updated requirement, a single applicant planning to study in any Canadian province or territory except Quebec will need to demonstrate at least CAD $23,448 for one year of living expenses, excluding tuition and transportation costs. The current requirement of CAD $22,895 applies to applications submitted on or before August 31, 2026.
The change means students preparing applications for September 1 onward will need to ensure their financial documents reflect the higher amount before submitting their study permit applications.
New Study Permit Fund Requirements
For applications submitted on or after September 1, 2026, the minimum living expense requirements outside Quebec will be:
- 1 person: CAD $23,448
- 2 people: CAD $29,192
- 3 people: CAD $35,888
- 4 people: CAD $43,572
- 5 people: CAD $49,419
- 6 people: CAD $55,736
- 7 people: CAD $62,054
- Each additional family member: CAD $6,318
For example, an international student travelling to Canada with two accompanying family members will need to demonstrate CAD $35,888 for one year of living expenses, in addition to sufficient funds for tuition and transportation.
The increase forms part of Canada’s annual adjustment to the financial requirement for international students to reflect changes in living costs.
What Students Need to Show
International students must demonstrate that they have enough money to cover their first year of studies, including tuition, living expenses and transportation to and from Canada, without relying on employment in the country.
Students enrolling in programmes longer than one year must also explain how they intend to finance the remaining period of their studies. This could include evidence of continued family support, employment income from a sponsor or a scholarship covering more than one year.
Financial evidence can include tuition and housing payment receipts, education loans, scholarships, recent employment pay slips, financial sponsorship documents, Canadian bank accounts, Guaranteed Investment Certificates and other evidence showing the source and availability of funds.
Current federal guidance also lists bank statements covering the previous six months, including the month the application is submitted or the month immediately before it, together with documents showing the source of income reflected in the account. Additional requirements can apply depending on the applicant’s country or visa office.
Applicants from countries with foreign exchange controls must also demonstrate that they are permitted to transfer enough money outside their country to cover their expenses in Canada.
What This Means for International Students
Students preparing a Canadian study permit application should pay close attention to when they submit it.
An application submitted by August 31, 2026 falls under the existing living expense requirement of CAD $22,895 for a single applicant. An application submitted from September 1, 2026 will require at least CAD $23,448, excluding tuition and transportation.
Having the minimum amount alone is also not enough. Applicants need financial documents that clearly demonstrate that the funds are available and explain where the money came from.
If you are planning to study in Canada and want to understand how the new financial requirement affects your application, you can book a consultation with Sehli Global to review your study plans, financial documents and study permit application before submission.
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