Study in Canada 2025: Higher Financial Proof Requirements Could Change Your Plans

What Changed and When It Takes Effect

Canada has raised the minimum proof of financial support (the “cost-of-living” amount) for study permit applications submitted on or after September 1, 2025. For a single applicant, the minimum living-expense funds increase to CAD $22,895 (this is in addition to first-year tuition and travel).

Outside Québec, the required amounts scale with family size (see the table below). Applications submitted before September 1, 2025 continue to be assessed under the previous minimum (CAD $20,635) for a single applicant.

Why Canada Raised the Financial Thresholds

Pegged to 75% of LICO (and why that matters)

Canada indexed the living-expense requirement to 75% of the Low-Income Cut-Off (LICO) to better reflect real costs across the country. This policy shift was first introduced for 2024 and is designed to keep requirements realistic as prices change.

Annual indexing to reflect real living costs

Because the amount is tied to LICO, it’s reviewed and updated annually. The 2025 increase reflects higher living costs and accommodation pressures faced by students.

Exactly How Much Money You Must Show (Outside Québec)

Table: Minimum Living-Expense Funds (Not Including Tuition or Travel)

Applies to study permit applications submitted on or after September 1, 2025 (outside Québec).

Tuition and travel are on top of living funds

The living-expense minimum is separate from (and added to) your first-year tuition and travel costs. Always prove you can cover all three categories.

Québec Has Different Rules

If you’re studying in Québec, you must satisfy both MIFI (Québec) and IRCC financial capacity rules. Québec publishes its own annual living-expense amounts and documentation standards for the CAQ and study permit pathway. Always check the current MIFI page for the exact 2025 figures and proof formats.

What Counts as “Proof of Financial Support”

Acceptable documents

IRCC accepts multiple evidence types; you can combine them as long as the money is genuinely available to you:

• Proof you paid tuition and any housing fees already
• A Canadian bank account in your name
• A Guaranteed Investment Certificate (GIC) from a participating Canadian bank
• Student/education loan approval from a recognized bank
• Bank statements (typically last 4 months)
• Letter of financial support from a sponsor (plus their proof of funds)
• Scholarship or funding letters for programs in Canada

Who Is Affected (and Who Isn’t)

Continuing students and renewals

The increase applies to new study permit applications filed on or after September 1, 2025. If you applied before that date, the previous minimum applies. Extending a study permit inside Canada may involve separate financial reviews.

Accompanying spouses/children

Bringing a spouse or children raises the minimum funds you must demonstrate to match your family size. See the table above for the required amounts.

Common Reasons Study Permits Are Refused for Funds

• Large unexplained deposits: Sudden, recent inflows without a credible paper trail raise concerns.
• Insufficient liquid funds: Property valuations or fixed assets don’t substitute for readily available cash.
• Mismatch between invoices and proof: Your budget must clearly cover tuition + living + travel.

Strategy: How to Meet the New Requirement Without Stress

Phased deposits and clean paper trails

Move funds in logical stages and keep receipts, swift copies, and gift/sponsorship letters to reduce questions about ownership and access.

Combining sources (parents + GIC + loan)

It’s common to blend a parental sponsorship, a GIC, and an education loan. Show that each source is consistent and sufficient when combined.

Currency conversion and buffer best practices

Maintain a 5–10% buffer above the minimum so your CAD total still clears the bar on the filing date. Print dated conversion pages for your file.

Documents Checklist (Ready-to-Use)

For the principal applicant

• Passport, LOA, tuition invoice, and payment receipt(s)
• Bank statements (last 4 months) in your name
• GIC certificate (if applicable)
• Letter of explanation aligning your study plan and funding

If a sponsor is paying

• Sponsor letter committing to cover costs
• Relationship proof (birth/marriage certificate)
• Sponsor’s bank statements (4 months) and income proofs

If using loans or scholarships

• Loan sanction letter with amount, rate, and terms
• Scholarship letters detailing amounts and schedule

Timeline: When to Arrange Funds and What to Do If You’re Short

• Before LOA: Map total costs and shortlist banks for a GIC/loan.
• After LOA: Pay tuition, lock in a GIC, and consolidate funds.
• Before filing: Ensure balances meet the new minimums with a buffer.

If you’re short, consider a later intake, increasing your loan, or securing a scholarship—don’t file with marginal proof.

Case Studies (Illustrative)

Single student, self-funded

Aisha has CAD $19,000 in savings, adds CAD $6,000 from a matured FD, and purchases a CAD $10,000 GIC. She pays CAD $12,000 in tuition. Her documents show tuition receipts, a GIC, and a bank balance exceeding the CAD $22,895 required for living/travel.

Married applicant with one child

Ravi, Priya, and their child must show CAD $35,040 for living costs plus tuition and travel. They combine a parental sponsorship, a CAD $15,000 education loan, and a GIC. The file includes relationship proofs, the loan letter, the GIC, and a paid tuition receipt.

Conclusion & Next Steps

Canada’s 2025 update raises the bar on living-expense funds for study permit applicants, with a single-applicant minimum of CAD $22,895 and higher tiers for families—effective September 1, 2025. Because this requirement is indexed to LICO and revised annually, it’s essential to check official guidance right before you file. Build a clean, well-documented funding story to show clear capacity to live and study in Canada without financial strain.