Canada Study Permit Cost Rise: Starting September 2025
The Immigration, Refugees and Citizenship Canada (IRCC) is set to increase the cost-of-living funds required for a Canada study permit starting September 1, 2025. This nearly 11% increase aims to ensure international students are financially prepared for their time in Canada.
What’s Changing with the Canada Study Permit in 2025?
Previously, a single applicant needed to show proof of $20,635 for living costs—a significant rise from the outdated $10,000 limit from the early 2000s. Now, the IRCC is adjusting the requirement to better reflect rising living expenses in Canada. For those applying for a study permit from September 1, 2025, the new funds required per year (not including tuition) are:
| Family Members | Required Funds (CAD) |
| 1 | $22,895 |
| 2 | $28,502 |
| 3 | $35,040 |
| 4 | $42,543 |
| 5 | $48,252 |
| 6 | $54,420 |
| 7 | $60,589 |
| Each additional member | $6,170 |
Key Takeaway: For a single student, at least $22,895 will be required for living expenses. This preparation is crucial for a successful application and a smooth stay in Canada.
Acceptable Proof for Meeting Financial Requirements
To meet the IRCC’s financial expectations, clear proof of your available funds is needed. Acceptable documents include:
- Guaranteed Investment Certificate (GIC): A secure option from a Canadian bank that provides funds periodically.
- Canadian Bank Account: Proof of funds transferred into a bank account in your name.
- Bank Statements: Statements over the last four months showing sufficient funds.
- Letters of Sponsorship: From individuals or institutions backing your financial stability.
Importantly, all documents must be in English or French, or include certified translations, to avoid issues with your application.
How Canada’s Requirements Compare to Other Countries
Canada’s updated requirements place it among competitive study destinations. For reference, the new threshold for a single applicant ($22,895) compares with:
- Australia: Approx. $21,826 CAD
- New Zealand: About $20,340 CAD
- United Kingdom: Ranges from $15,680 to $20,447 CAD
- United States: Minimum of $10,000 USD (roughly $13,500 CAD)
While Canada’s costs may be higher, they aim to ensure that students live comfortably while studying.
Planning Ahead
Although these new requirements may seem imposing, they’re designed to enhance your educational experience in Canada. Adequately preparing your finances allows you to enjoy both your studies and life in this beautiful country without stress.
What do you think?
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