Canada is set to increase the amount of money prospective international students must show for living expenses when applying for a study permit, with the new requirement taking effect from September 1, 2026.
Immigration, Refugees and Citizenship Canada (IRCC) said applicants studying outside Quebec will need to demonstrate access to C$23,448 for living expenses, excluding tuition and transportation costs.
The new threshold represents an increase of C$553, or about 2.4 per cent, from the current requirement of C$22,895.
The requirement applies to a single student and is intended to demonstrate that applicants have sufficient funds to support themselves while studying in Canada.
Students travelling with accompanying family members will be required to show additional funds based on the size of their family.
For example, applicants travelling with three family members will need to demonstrate C$35,888, while those travelling with five family members will require C$49,419.
The amount rises to C$62,054 for applicants travelling with six family members, while an additional C$6,318 will be required for each extra family member beyond seven.
IRCC said the financial thresholds are reviewed annually to reflect changes in the cost of living in Canada.
The department explained that the requirement is separate from the money applicants must show for tuition and transportation to and from Canada.
Applicants must therefore demonstrate that they can meet their tuition, living and transportation costs, as well as the corresponding expenses of any accompanying family members.
Students enrolling in programmes lasting longer than one year will also be required to demonstrate how they intend to finance their studies for the entire duration of their programme.
The revised financial requirement will apply to study permit applications submitted from September 1, 2026.
The change means prospective Nigerian students planning to study in Canada will need to factor the higher proof-of-funds requirement into their financial preparations when applying for study permits from the effective date.
