Indian students heading to Canada must show more funds from September 1

Canada has raised the proof-of-funds requirement for international students applying for study permits from 1 September 2026. The revised threshold ties applications more closely to living costs and closer scrutiny of funding sources.Studying in Canada? New financial rule starts today, check required funds (Image: pexels.com)Canada has increased the financial requirement for international students applying for a study permit from September 1, 2026. Indian students planning to study in Canada will now need to show more money for living expenses when submitting their applications.According to Immigration, Refugees and Citizenship Canada (IRCC), a single student applying to study in any Canadian province or territory except Quebec must now show CAN$23,448 for one year of living expenses. The amount is separate from tuition fees and transportation costs.Announcing the change, IRCC said it updates the financial requirements every year to keep pace with the cost of living and help protect international students from exploitation.CANADA STUDY PERMIT: HOW MUCH MONEY DO STUDENTS NEED TO SHOW?The new requirement is higher than the previous amount of CAN$22,895, which applied to study permit applications submitted between January 1, 2025 and August 31, 2026. This means the requirement for a single student has increased by CAN$553. For students travelling with family members, the required amount is higher. For two family members, including the applicant, the annual living expense requirement is CAN$29,192. For three family members, it is CAN$35,888, while four family members must show CAN$43,572.The requirement rises to CAN$49,419 for five family members, CAN$55,736 for six and CAN$62,054 for seven. For every additional family member beyond seven, applicants must show another CAN$6,318. IRCC says applicants must prove that they have enough money to cover their tuition fees, living expenses and transportation costs for themselves and accompanying family members.Students must demonstrate that they have sufficient financial resources for the first year of their studies. If the programme lasts longer than one year, they must also explain how they plan to pay for the full duration of their studies.Applicants can use documents such as bank statements, proof of an education loan, scholarship documents, proof of tuition or housing payments and employment-related financial records. IRCC says it will assess both the amount of funds available and their source.Students should also note that the CAN$23,448 requirement applies to provinces and territories except Quebec. Students planning to study in Quebec have to meet the financial requirements set by the Quebec authorities.- EndsPublished By: Mridusmita DekaPublished On: Sep 1, 2026 10:59 IST