Canada Hikes Student Visa Fund Requirement

Canada has revised its financial criteria for international student visa applicants, increasing the minimum cost-of-living requirement by over CAD 2,000. Starting September 1, 2025, study permit applicants (excluding those applying to Quebec) must now show CAD 22,895 as proof of funds, up from the previous CAD 20,635.

This updated threshold is in addition to tuition fees and travel expenses, ensuring that students are financially equipped to handle living costs while studying in Canada. The adjustment reflects annual inflation and rising living expenses across the country.

The new guidelines also apply to students accompanied by family members. For example:

• 2 people: CAD 28,502
• 3 people: CAD 35,040
• Additional amounts apply for more dependents.

Applicants can prove financial readiness through various means, including:

• Canadian bank balances
• Education loans
• GICs (Guaranteed Investment Certificates)
• Bank statements
• Scholarship letters
• Sponsor support letters

Applications submitted before August 31, 2025, will follow the previous rules. Those applying on or after September 1 must meet the new requirements.

This move by Immigration, Refugees and Citizenship Canada (IRCC) is aimed at protecting international students from unexpected financial challenges and ensuring a smoother study experience in the country.