Canada Raises Financial Requirements for Student Visas
The Canadian government has raised the financial requirements for international students to CAD$22,895, an increase from CAD$20,635. This change, effective for those applying for a study permit on or after September 1, 2025, is part of a phased plan introduced in December 2023 to keep pace with inflation.
Under these new guidelines, students wishing to study in Canada must show that they have sufficient funds—without relying on work in Canada—to cover tuition, living expenses, and transportation. It’s important to note that these requirements apply to all provinces and territories in Canada, with the exception of Quebec, which has its own rules.
The amount of money needed will also vary depending on the number of family members who will be accompanying the student. For more details, you can visit the IRCC’s website.
The minimum proof of funds will rise to CAD$22,895 per year.
This adjustment comes as international students are facing more challenges in their journey to study in Canada. The government introduced caps on study permits last year, which have since expanded to include master’s students.
Globally, prospective students are also experiencing rising costs in other countries. For instance, Australia recently increased its student visa fees to AUD$2,000, while the UK has raised its student visa fees from £490 to £524 as of April this year. In the United States, new immigration fees have been introduced, including a visa integrity fee of at least $250.
If you’re an international job seeker thinking about studying and working in Canada, it’s essential to stay informed about these changes. Understanding the financial requirements can help you plan better and figure out your route to obtaining your Permanent Residency (PR) later on. You might also explore employment opportunities that align with your study field through platforms like VisaJobsCanada.com, where every job listed includes visa sponsorship and is open to international applicants. This can be a great stepping stone toward achieving your goals in Canada!
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