More Money Required Starting September 2026
Anyone applying for a Canadian study permit to study outside Quebec will need to prove they have more money available once the new rules take effect on September 1, 2026.
A single applicant with no dependants will need an extra $553, while an applicant bringing six additional family members will need an extra $1,465.
These higher cost-of-living amounts come on top of whatever an applicant already needs to cover:
- the first full year of tuition; and
- travel to and from Canada
Per the immigration department's Study permit – Proof of financial support webpage, updated on August 28, 2026, here are the new cost-of-living figures that will apply to applications submitted on or after September 1, 2026:
All provinces and territories except Quebec
| Number of family members (including the applicant) | Amount required per year, excluding tuition and transportation costs (in CAN$) |
|---|---|
| 1 | $23,448 |
| 2 | $29,192 |
| 3 | $35,888 |
| 4 | $43,572 |
| 5 | $49,419 |
| 6 | $55,736 |
| 7 | $62,054 |
| If more than 7 people, each additional family member | $6,318 |
Example: If you and 2 family members want to come to a province or territory (other than Quebec) for a year, you'll need $35,888 for living expenses.
Any application submitted before September 1, 2026, will still be assessed using the cost-of-living amounts that were in effect when it was received.
On top of meeting this financial capacity requirement, any applicant whose program lasts longer than one year must also explain how they intend to fund the remainder of their studies.
How Financial Capacity Requirements Are Calculated
To work out the required cost-of-living amount, the immigration department counts the applicant along with any family members who will be accompanying them to Canada.
The same applies to travel costs: transportation expenses to and from Canada must cover the applicant as well as any accompanying family members.
As for tuition, Immigration, Refugees and Citizenship Canada (IRCC) requires applicants to demonstrate they have enough financial resources to cover the first year of enrollment.
The federal government reviews and updates these proof-of-funds figures every year to keep pace with the cost of living, setting them at 75% of Statistics Canada's Low Income Cut-Off (LICO) for the relevant family size.
What Counts as Acceptable Proof of Funds
Applicants must submit documentation demonstrating they have enough money to support themselves in Canada, and IRCC provides several examples of what counts as acceptable proof.
These examples fall into three groups: fees already paid, funds currently on hand, and support that is expected or has been promised.
Fees Already Paid
- Proof that tuition and housing fees have been paid (for example, a receipt from the school in question).
- This needs to be supported by additional evidence showing available funds for living and travel expenses.
Funds Currently Available
- Proof of a student or education loan from a bank;
- Proof of a Canadian bank account held in the student's name, if funds have already been transferred to Canada;
- A guaranteed investment certificate issued by a Canadian bank;
- Bank statements, whether Canadian or foreign, covering the past six months;
- Financial documents relating to a pension plan; and
- Proof of income earned from rental properties.
Expected or Promised Support
- Proof of a scholarship or enrollment in a Government of Canada-funded educational program;
- Pay stubs from recent employment; and
- A letter from whoever is financially supporting the applicant, or from the institution providing support;
- The letter must confirm their relationship to the applicant, their occupation or employment, the number of any dependants, and how much support they plan to provide.
- It must also be backed up by evidence confirming the applicant's connection to the person or institution providing the funds, along with a copy of the supporter's photo ID or proof of business registration.
None of these lists are exhaustive. Depending on their country and personal circumstances, applicants may be asked to submit further documentation.
IRCC recommends that international students review the applicable visa office instructions for their country or region to check for any additional local requirements.
Applicants coming from countries with foreign exchange controls must also provide evidence that they will be permitted to export the funds needed to cover all relevant expenses.
Closer Scrutiny of Financial Evidence
Financial documentation is now subject to closer scrutiny following changes made to IRCC's officer instructions in July 2026. As a result, officers must now examine where a study permit applicant's funds are coming from in every case, rather than only in situations previously flagged as "high-risk."
How Global Opportuna Can Help
These updated financial requirements make it more important than ever to plan and document your finances well ahead of applying. At Global Opportuna, we help prospective students understand exactly how much they need to show, gather the right supporting documents, and put together a strong, well-organized application.
Book a free consultation with us today to make sure your finances are ready before you apply.
