Canada is set to increase the financial requirement for international students applying for a study permit from September 1, 2026, as the country updates the amount applicants must demonstrate for their living expenses.
For a single international student applying outside Quebec, the required amount will increase from C$22,895 to C$23,448 for one year of living expenses. The revised requirement will apply to study permit applications submitted on or after September 1, 2026.
The amount is intended to cover the applicant’s living expenses and is separate from the funds required for first-year tuition fees and transportation costs.
Higher funds required for accompanying family members
Students travelling with family members will need to demonstrate additional funds based on the size of their family. For example, the financial requirement for a family of three will increase to C$35,888, according to the revised thresholds.
The financial requirement applies to study permit applicants intending to study in provinces and territories outside Quebec. Quebec has separate financial requirements for international students.
Applications submitted before September 1
The date of submission will determine which financial threshold applies. Applicants who submit their study permit applications before September 1, 2026 will be assessed under the existing requirement of C$22,895 for a single applicant.
Those submitting applications on or after September 1 will need to meet the revised threshold.
What students should keep in mind
The increase means prospective international students will need to account for a higher cost-of-living requirement when preparing their study permit applications. Applicants should also ensure that they have sufficient funds to cover their tuition fees, transportation and other applicable expenses in addition to the prescribed living-expense amount.
The change is part of Canada’s annual adjustment of its financial requirements for international students, reflecting changes in the cost of living.
Students planning to apply for a Canadian study permit for the 2026–27 academic year should review the applicable financial requirements before submitting their applications.
