Studying in Canada has now become expensive with the official announcement of a major change in the fund — requirement for international students, raising the bar high.

As per the change, Indians will require a minimum amount of Rs 14 lakh for living expenses to study in Canada except the tuition cost.

This major change has come from the Immigration, Refugees and Citizenship Canada (IRCC).

From September 1, 2025, all international students applying for a study permit (except those in Qubec) must prove they can cover not only tuition fees but also living, housing, transportation and travel costs for themselves and any accompanying family members — without relying on employment in Canada.

For single applicants, the minimum required amount (excluding tuition and travel) has increased from CAD20,635 to CAD22,895 per year — a nearly 11% rise. If a student applies before 1 September 2025, the previous thresholds continue to apply.

LIVING COST THRESHOLDS BY FAMILY SIZE

IRCC has updated the cost of living support table, applicable to all provinces and territories except Qubec:

ACCEPTABLE PROOF OF FUNDS

Applicants must supply one or more of the following documents:

• Receipt for paid tuition or housing

• Bank statement from the last four months

• Guaranteed Investment Certificate (GIC) from a Canadian bank

• Proof of student or education loan

• Canadian bank account statement (with funds transferred)

• Bank draft in convertible currency

• Letter of financial support or scholarship proof

Additionally, if the applicant’s home country has foreign exchange controls, they must prove the funds can be legally transferred to Canada.

IRCC updates these thresholds annually, pegged to Canada’s low in come cutoff (LICO) to reflect inflation and living cost rises.

The move ensures students are financially secure, reducing dependence on work and the risk of financial stress or exploitation.

SEPARATE GUIDELINES FOR QUEBEC APPLICANTS

Students planning to study in Quebec in 2025 must meet additional requirements, including proof of funds for tuition, travel, settlement, and health insurance.

Health insurance must cover the entire period of stay unless the student is already covered in Qubec or their home country has a social security agreement with the province.

WHAT STUDENTS SHOULD DO

Prospective students should:

1. Review and calculate the total funds needed — tuition, living, travel, plus any family members.

2. Start gathering credible documents early, especially evidence of legal currency transfer if relevant.

3. Consider applying before 1 September 2025 if meeting earlier thresholds is more feasible.

4. Bookmark IRCC and Qubec’s official websites for any future updates.

This update reflects Canada’s shift toward ensuring international students are fully prepared — financially and legally — to study and live in the country.

– Ends