Study Permit Funds Requirement Increased: New Rules Starting Sept 1

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Study permit funds requirement increased｜LYC Immigration

What Happened and How Much Did It Increase?

According to the latest update from Immigration, Refugees and Citizenship Canada (IRCC), the financial requirement for a Canadian study permit has officially gone up starting September 1. For a single applicant, the new required amount is now CAD $23,448. This represents an increase of $553, which is a 2.4% bump from the previous requirement.

What Total Financial Proof Do You Need?

You can check all the details here > Study permit – Proof of financial support

study permit funds requirement 2026.9

Source: Official IRCC Website

When preparing your application, remember that the funds must cover more than just daily life. The complete formula for your financial proof is:

Total Funds = Living Costs + First-Year Tuition + Transportation

The CAD $23,448 mentioned above covers living expenses only. It does not include your first-year tuition or travel costs. If your spouse or children are accompanying you, the required amount will increase based on your family size (for example, CAD $29,192 for a family of two).

Planning to Study in Québec? Here’s the Difference

If your destination is Québec, the financial rules are slightly different. As of January 1, 2026, a single applicant studying in Québec must show CAD $24,617 per year for basic needs. Additionally, students attending a school in Québec generally need to obtain a Quebec Acceptance Certificate (CAQ) before applying for their federal Study Permit.

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