Prospective international students planning to study in Canada should take note of another important change to Canada’s study permit requirements. Effective September 1, 2026, the minimum amount required for living expenses has increased.
For a single study permit applicant applying to study outside Quebec, the required amount for living expenses is now $23,448 per year, compared with the previous requirement of $22,895. This amount does notinclude tuition fees or transportation costs.
The financial requirement also increases depending on the number of family members accompanying the student. For applications submitted on or after September 1, 2026, the required annual living expenses are:
- 1 person – $23,448
- 2 people – $29,192
- 3 people – $35,888
- 4 people – $43,572
- 5 people – $49,419
- 6 people – $55,736
- 7 people – $62,054
- Each additional family member – $6,318
These amounts apply to provinces and territories outside Quebec. Quebec has its own financial requirements.
More Than Just Having Money in the Bank
One of the most important things prospective students should understand is that meeting the minimum dollar amount does not automatically mean that the financial requirement has been satisfied.
Under section 220 of the Immigration and Refugee Protection Regulations, a study permit applicant must demonstrate sufficient and available financial resources without relying on employment in Canada.
The applicant must have sufficient funds to pay for tuition, living expenses for themselves and accompanying family members, and transportation to and from Canada.
IRCC officers are also instructed to assess both the amount and the source of the funds.
This means that simply depositing a large amount of money into a bank account shortly before submitting a study permit application may raise questions. An applicant should be prepared to establish where the money came from and whether it is genuinely available to finance their education in Canada.
For example, if the funds are being provided by parents, the application should not simply show the parents’ bank balance. Evidence may also be necessary to establish their employment, income, business activities or other legitimate sources of funds, as well as their relationship to the student and their commitment to financially support the applicant.
What About Programs Longer Than One Year?
Students are required to demonstrate sufficient financial resources for the first year of their studies. However, this should not be interpreted to mean that IRCC is unconcerned about how the remaining years will be financed.
For programs lasting longer than one year, applicants must also explain how they intend to pay for the full duration of their studies. For example, if parents will continue supporting the student, evidence of their stable employment or continuing income can help demonstrate the probability that funding will remain available. If the student has a scholarship, the duration and amount of the scholarship should be clearly documented.
The same financial requirement is relevant when a student applies to extend a study permit.
Do Not Depend on Working in Canada
This is particularly important for Filipino students planning their finances.
International students may be permitted to work in Canada if they meet the applicable requirements, but employment should not be presented as the means by which the student will finance the education.
The law specifically requires applicants to demonstrate that they have sufficient financial resources without working in Canada.
A plan that essentially says, “I will work in Canada to pay my tuition and living expenses,” may undermine rather than strengthen the financial assessment of a study permit application.
What Should Future Students Do?
Prospective students should prepare financially well before submitting their applications. Maintain proper banking records and be ready to explain significant or recent deposits. If parents or another person will provide financial support, document the relationship, the sponsor’s financial capacity, and the genuine source of the money. Applicants should also calculate the real cost of studying in Canada, not merely the minimum amount required by IRCC. Tuition, housing, food, transportation, books, insurance and other expenses can make the actual cost considerably higher.
Most importantly, remember that proof of funds is not simply about reaching a number. The funds must be sufficient, available and credible, and their source must be clearly demonstrated.
For international students, careful financial preparation is now more important than ever.
Source: Immigration, Refugees and Citizenship Canada
Contact Marjorie at info@mcncanadaimmigration.com
A word of caution: You should not act or rely on the information provided in this column. It is not a legal advice. This article is provided for general information only and should not be considered legal or immigration advice. Immigration requirements and policies may change, and applicants should obtain advice based on their individual circumstances. To ensure your interests are protected, retain, or formally seek advice from a Regulated Canadian Immigration Consultant (RCIC) in good standing of CICC. The views expressed in this article do not necessarily reflect those of RCIC’s.
