Canada’s new financial requirements for international students will increase to $22,895 for a single applicant, effective September 1, 2025. This change aims to ensure students can support themselves financially while studying in Canada.
Key Details:
– Increased Financial Requirement: The new amount represents a 10.95% increase from the previous requirement of $20,635.
– Applicability: This change applies to international students applying for a study permit on or after September 1, 2025, for provinces and territories outside Quebec.
– Acceptable Proofs of Funds: Students can demonstrate financial stability through:
– Guaranteed Investment Certificate (GIC): A secure investment option from participating Canadian financial institutions.
– Canadian Bank Account: Proof of a bank account in your name with sufficient funds.
– Bank Statements: Statements from the past four months showing adequate funds.
– Student or Education Loan: Documentation of a loan from a recognized financial institution.
– Sponsorship Letter: A letter from an individual or institution guaranteeing financial support.
Financial Requirements for Different Family Sizes:
– 1 person: $22,895
– 2 people: $28,502
– 3 people: $35,040
– 4 people* $42,543
– 5 people: $48,252
– 6 people: $54,420
– 7 people: $60,589
– Each additional family member: $6,170
