Canada Increases Minimum Funds for International Student Visa

By Visa Jobs CanadaSeptember 4, 2025September 4, 2025International Students & GraduatesCanada, international students, minimum funds requirement, visa sponsorship, work permits

Canada Study Permit Financial Requirements Update: If you’re considering studying in Canada, it’s important to stay updated on the financial requirements for obtaining a study permit. The Canadian government has announced that starting September 1, 2025, international students will need to show an additional over $2,000 in funds to support their studies.

For a single student, the minimum amount required will increase from CAN$20,635 to CAN$22,895, which includes first-year tuition and travel costs. This update applies to students in all provinces and territories except Quebec. However, if you’ve applied for a study permit before September 1, 2025, you’ll still follow the previous financial guidelines, as those will remain in effect until that date.

Understanding Proof of Funds

When applying for your study permit, you’ll need to prove you have enough funds to cover tuition fees, living expenses, and transport costs to Canada. It’s crucial that these funds are available to you without relying on employment once you’re here.

You can demonstrate your financial capacity in a few ways. One option is to provide proof of a Canadian bank account in your name, especially if you’ve already transferred funds. Alternatively, a Guaranteed Investment Certificate (GIC) or documents from an educational loan can also serve this purpose. Recent bank statements showing your financial activity for the past four months are another way to illustrate your financial standing.

If you’ve already paid tuition and housing fees, you can show that as proof as well. Remember, for programs longer than a year, you need to confirm that you’ve paid the first year’s tuition upfront.

How Much Funds You’ll Need

If you’re applying for a study permit after the new financial requirement takes effect on September 1, 2025, here’s what you need to budget based on your family size (including yourself):

For 1 family member: CAN$22,895 per year (excluding tuition).
For 2 family members: CAN$28,502 per year (excluding tuition).
For 3 family members: CAN$35,040 per year (excluding tuition).

Aside from covering your living expenses, having your finances in order can also smooth the path for those wishing to transition to the workforce in Canada after their studies. A solid financial base might make it easier to obtain a work permit post-study, particularly if your intention is to seek employment here.

Our website, VisaJobsCanada.com, is dedicated to helping you find Canadian jobs that may also offer visa sponsorship. This can be a valuable step towards permanent residency (PR), making your move to Canada even more enticing.

Canada’s immigration policies are designed with international talent in mind, and understanding these financial requirements gives you a head start. Preparing your finances wisely not only helps your study journey but can also be crucial when it’s time to explore job opportunities after your education.