Effective September 1, 2025, IRCC is raising the minimum proof-of-funds needed for international students applying for Canadian study permits. Beyond tuition, your living budget must now meet higher thresholds to reflect today’s true cost of rent, food, and transportation.
What’s Changing?
*Québec maintains its own funding levels under CAQ guidelines.
On average, single applicants must now show 10% more in savings—meaning CAD 22,895 instead of CAD 20,635. A family of three needs at least CAD 35,040.
Why the Increase?
IRCC’s goal is to align visa requirements with real living expenses, preventing students from arriving unprepared. By raising the bar on proof-of-funds, they aim to ensure you can settle comfortably without financial strain.
How This Affects You
Application Eligibility: Insufficient funds can lead to immediate refusal of your study permit.
Visa Approval Confidence: Demonstrating robust finances speeds processing and reduces requests for additional documents.
Planning Ahead: Adjust your budgeting, scholarships, or sponsorship plans now to meet the new benchmarks.
Altec Global’s Recommendations
Review Your Budget: Calculate your living costs and confirm you meet or exceed the new minimum.
Organize Your Proof: Secure bilingual bank letters showing six-month averages and current balances.
Diversify Funding Sources: Consider parental guarantees, education loans, or scholarship awards.
Act Early: Update your funds documentation immediately—don’t wait until your application date.
At Altec Global, we blend study-permit and immigration expertise to give you a seamless, worry-free pathway to Canada. From pre-application budgeting to post-landing PR strategy, Contact us for personalized guidance on every step of your educational journey. Book your appointment today.