Canada hikes funds required for international student permits

Canada plans to raise the funds international students must demonstrate for living expenses when applying for a study permit, effective September 1, 2026. Immigration, Refugees and Citizenship Canada announced the change on X, stating that a single student outside Quebec must show access to C$23,448 for living expenses, an increase of C$553 or approximately 2.4 percent from the current requirement of C$22,895.

This financial requirement is separate from tuition fees and transportation costs. Applicants must also prove they can cover these expenses for themselves and any accompanying family members.

For families traveling with three members, the required amount rises to C$35,888. For travel with five family members, the requirement increases to C$49,419. Those traveling with six family members must show C$62,054, and for each additional family member beyond seven, applicants must demonstrate an additional C$6,318 in living expenses.

The Canadian government reviews these amounts annually to reflect changes in the cost of living in Canada. The new financial thresholds aim to protect international students from financial hardship and exploitation. Applicants must demonstrate their ability to cover tuition fees, living expenses, and transportation costs for themselves and any accompanying family members for the full duration of their study programs, which may last more than one year.