Canada Raises Financial Requirement for International Students Starting Today

Canada introduced new financial requirements for study permit applicants on September 1, 2026, raising the minimum amount a single international student must demonstrate for annual living expenses to C$23,448 in all provinces and territories except Quebec.

Immigration, Refugees and Citizenship Canada says the new amount covers living expenses only and does not include tuition fees or transportation to and from Canada. Applicants must demonstrate that they have sufficient funds to cover those costs separately.

For applications submitted between January 1, 2025 and August 31, 2026, the required amount for one person was C$22,895. The change therefore represents an increase of C$553 for applications submitted from September 1 onward.

The requirement increases with family size. Two people must now demonstrate C$29,192 in annual living expenses, while the amount rises to C$35,888 for three people and C$43,572 for four. A family of seven requires C$62,054, with an additional C$6,318 required for each person beyond seven.

Applicants must show that they have sufficient financial resources for their first year of study. For programs lasting longer than one year, they must also explain how they plan to finance the remainder of their studies. Quebec maintains separate financial requirements for international students.