Canada Study Permit Update – Important Proof of Funds Changes

ACPerez Law
Sep 2
2 min read

Effective September 1, 2025: New Proof of Funds Requirements for Study Permits

Immigration, Refugees and Citizenship Canada (IRCC) has updated the minimum Proof of Funds required for study permit applications submitted on or after September 1, 2025 (excluding Quebec).

What’s Changed?

Family Members (total)	Required Funds (CAD)	Increase From Previous
1 (single applicant)	$22,895	+$2,260
2	$28,502	+$2,812
3	$35,040	+$3,457
4	$42,543	+$4,197
5	$48,252	+$4,760
6	$54,420	+$5,369
7	$60,589	+$5,978
Each additional person	+$6,170	+$611

👉 These figures apply to living expenses only. Tuition and travel costs are additional.

Acceptable Proof of Funds

You can demonstrate sufficient funds with:

Tuition & housing payment receipts
Canadian bank account statements (in your name)
Guaranteed Investment Certificate (GIC)
Student/education loan documents
Bank statements (last 4 months)
Bank drafts in Canadian dollars
Letters of financial support from sponsors
Scholarship or funding confirmation

Applicants from countries with foreign exchange restrictions must also show the legal ability to transfer funds abroad.

Special Note: Quebec Applicants

Quebec has separate financial requirements through the Ministère de l’Immigration, de la Francisation et de l’Intégration (MIFI). Applicants must meet both federal and provincial thresholds.

What This Means for You

If applying before September 1, 2025, you may qualify under the old threshold ($20,635 for single applicants).
If applying on or after September 1, 2025, you must meet the new amounts.
Careful planning and clear financial documentation are now more critical than ever.