Canada is raising the minimum funds requirement for international students applying for study permits (outside Quebec), to reflect the growing living costs across the country.
📈 What’s Changing?
- New living expense thresholds effective September 1, 2025:
- 1 student: CAN $22,895 (up from $20,635)
- 2 people: $28,502
- 3 people: $35,040, etc.
- This update reflects a 10.95% increase, aligning with Canada’s Low‑Income Cut‑Off (LICO) index
🎯 Why This Matters
- Ensures students have enough funds to support themselves without relying on work
- Protects against financial vulnerability and exploitation
- Demonstrates Canada’s commitment to maintaining transparent and fair immigration standards
💼 What Counts as Proof of Funds?
Acceptable documentation includes:
- First year tuition + housing receipts
- Guaranteed Investment Certificate (GIC)
- Canadian bank statements or accounts
- Education loan documents
- Bank drafts, how much time honourable letters (sponsor)
- Scholarships or Canadian-funded program proof
🛑 What If You’re Applying Before September 1, 2025?
Your application falls under the current requirement:
- Single: $20,635/year
- Plus family members: scaled increments accordingly
Ensure you submit before the deadline to lock in the current, lower thresholds.
🌍 Need help preparing your application?
Book a consultation with Lyc Immigration today! Our experts will guide you through all requirements, document preparation, and ensure you’re fully ready for a seamless study permit application.