Immigration, Refugees and Citizenship Canada (IRCC) has announced a new financial threshold for international students applying for study permits, effective September 1, 2026. A single student applying from outside Quebec must now demonstrate C$23,448 in available living expenses, an increase of C$553 from the current requirement of C$22,895 for applications submitted between January 1, 2025, and August 31, 2026.
New Financial Thresholds for Study Permit Applicants
The updated amount represents a rise of about 2.4% and applies to living expenses only, according to the IRCC announcement made on Friday. The immigration authority said the adjustment is part of its yearly review of financial requirements to reflect shifts in the cost of living and to shield international students from exploitation.
Students travelling with family members will face higher thresholds, with amounts scaling up based on the number of accompanying family members. The requirement rises to C$29,192 for two family members, C$35,888 for three, C$43,572 for four, C$49,419 for five, C$55,736 for six, and C$62,054 for seven. Each additional family member beyond seven adds a further C$6,318 to the minimum required amount.
Living Expenses Only, Tuition and Travel Excluded
IRCC clarified that all these figures apply to living expenses only and do not cover tuition fees or transport costs to and from Canada. Applicants must separately prove they can afford these additional costs. The immigration authority also reminded applicants that they must account for the full cost of their studies if their programme runs longer than one year.
"We update financial requirements for study permit applicants each year to keep pace with the cost of living and help protect international students from exploitation," IRCC said in a statement. The body added: "For programs more than a year long, you must also tell us how you plan to pay for the full duration of your studies."
Proof of Funds Required for Applicants and Families
Every applicant is expected to show proof of sufficient funds to cover tuition, living expenses, and return transportation for both themselves and any family members coming with them to Canada. The change follows Canada's ongoing adjustment of immigration policies to manage the cost of living and protect international students.
This latest update means studying in Canada will become more expensive for international students, particularly those with families. Applicants are advised to prepare their financial documentation accordingly before submitting their study permit applications from September 1, 2026.
