New Canada Study Permit Financial Requirement
The new requirement for a single applicant will be CAD 22,895, a notable increase from the previous CAD 20,635. This does not include tuition or travel, and additional funds are required for accompanying family members.
Family Size | Minimum Required Funds |
1 person | CAD 22,895 |
2 people | CAD 28,502 |
3 people | CAD 35,040 |
4 people | CAD 42,543 |
5 people | CAD 48,252 |
6 people | CAD 54,420 |
7 people | CAD 60,589 |
Each additional person | +CAD 6,170 |
Who Will Be Affected?
Anyone applying for a Canada study permit on or after September 1, 2025 must comply with the new financial requirement. This applies to:
- All new international students outside Quebec
- Students planning to bring dependents or family
- Those applying through regular or Student Direct Stream (SDS) pathways
If you submit your application before September 1, the current (lower) financial requirement still applies.
Accepted Proof of Funds for 2025
To meet the Canada study permit financial requirement, IRCC accepts the following:
- 4 months of recent bank statements
- GIC (Guaranteed Investment Certificate)
- Student loan from a financial institution
- Bank drafts in Canadian dollars
- Sponsorship letters
- Scholarship or internal funding letters
These must be clear, recent, and translated into English or French.
Why the Requirement Is Changing
This update is intended to:
- Reflect rising cost of living in Canada
- Prevent students from experiencing financial hardship
- Encourage better preparedness and self-sufficiency among international students
The changes also align with broader updates, such as the new financial requirements for Express Entry applicants and revised eligibility for Post-Graduation Work Permits.
PGWP changes effective July 2025
What Students Should Do Now
If you’re applying to study in Canada, take these steps:
- Plan your finances early to meet the updated requirement
- Check your application date—submit before Sept. 1 if you can’t meet the new amount
- Ensure your documentation is complete and clear
- Consult with Adapt Immigration for expert support on your study permit application
Final Thoughts from Adapt Immigration
We know financial planning is a big part of your study abroad journey. At Adapt Immigration, we’re committed to helping you understand and meet all requirements with confidence.
Need help with your application?
Visit www.adaptimmigration.com or book a free consultation today.