Important information for International Students who are planning to apply for Canada study visa. Immigration Refugees and Citizenship Canada (IRCC) is going to increase the funds requirements for financial support from September 1,2025.
If you apply for Canada study permit on of after September 1, 2025 you need to meet new requirements for financial support. For 1 member (applicant) it’s going to increase from the current of $20,635 to $22,895.
Here is the complete new list as per the number of applicants including the applicant:
| Number of Family Members (including the applicant) | Amount of Funds Required per Year (excluding tuition) |
|---|---|
| 1 | CAN$22,895 |
| 2 | CAN$28,502 |
| 3 | CAN$35,040 |
| 4 | CAN$42,543 |
| 5 | CAN$48,252 |
| 6 | CAN$54,420 |
| 7 | CAN$60,589 |
| Each additional family member beyond 7 | CAN$6,170 |
This list is applicable for the whole Canada exception is Quebec. To know more on the Quebec financial requirements for study visa please visit MIDI.
Documents Accepted by IRCC to Prove the Financial Support for Study Visa of Canada
To support your Canada’s study visa application you must prove to IRCC that you can support yourself and each accompany family member financially such as living expenses and transportation costs. The following documents are accepted by IRCC:
- GIC from a participating Canadian Financial Institution. Select Canadian Banks as they have better banking reach than others.
- Proof of education or student loan from the bank
- your bank statements from the past 4 months
- a bank draft that can be converted Canadian dollars
- a letter from the person giving you the money
- proof of funding paid from within Canada, if you have scholarship or are in Canadian funded educational program