Prime Highlights
- Canada raises minimum proof of funds to ₹14 lakh (C$22,895) for new international student visa applicants.
- From September 1, 2025, the new rule will apply to all new study permit applications other than those in Quebec.
Key Facts
- The previous financial requirement was C$20,635.
- The amount varies if students have dependents with them.
Key Background
In a significant overhaul with the intent of staying in line with the current cost of living, the government of Canada has increased the financial requirement for international students. Beginning September 1, 2025, students applying for study permits outside the province of Quebec must prove they have access to at least C$22,895, or approximately ₹14 lakh, just to cover their annual living expenses—separate from tuition and airfare charges.
The increase from the previous value of C$20,635 is because of the rising cost of housing, food, transport, and other essentials in Canada. Immigration, Refugees and Citizenship Canada (IRCC) says that the adjustment aims to render international students arriving in Canada financially able to support themselves without undue hardship.
The adjustment takes effect only on new applications filed on or after September 1, 2025. Students who submit the study permit application prior to this date will continue to be adjudicated under the previous financial requirement. The same rule is applied proportionally if a student is bringing dependents. The spousal dependent requires an additional C$5,607, and an additional C$6,170 for each dependent child.
To satisfy the requirement, the candidates will need to provide sound financial documentation like Canadian bank account balances, GIC (Guaranteed Investment Certificates), four months’ bank statements, education loan letters, or scholarship/sponsorship documents. The IRCC added that such financial documentation must be accessible while applying and once more prior to a final visa being issued.
This move is part of Canada’s ongoing attempt at revamping its student visa policy to grant only well-prepared and financially secure students permits. As international student intake grows—especially from countries like India—Canada wants to balance opportunity and sustainability in education and immigration policy.
