Canada's Study Permit Proof of Funds Just Went Up — Here's What Actually Changed
Canadian immigration rules and financial requirements change regularly. Always confirm current figures on the official IRCC website before relying on them. This article provides general information and is not legal advice.
If you're planning to study in Canada, the amount you need to prove just moved.
As of September 1, 2026, IRCC raised the cost-of-living requirement for study permit applicants studying outside Quebec. A single applicant now needs to show $23,448 in available funds, up from $22,895.
The New Amounts, by Family Size
The New Amounts, by Family Size
Family members Required amount (from Sept 1, 2026) Increase
1 $23,448 +$553
2 $29,192 +$690
3 $35,888 +$848
4 $43,572 +$1,029
5 $49,419 +$1,167
6 $55,736 +$1,316
7 $62,054 +$1,465
Each additional family member adds $6,318.
What This Number Actually Covers
This is where I see the most confusion: this figure is your cost of living only. It does not include tuition, travel to Canada, or health insurance — those get demonstrated separately, on top of this amount. Budgeting for the living-expense figure alone and assuming you're covered is how applicants end up short at the document-review stage.
Does This Apply to You?
If you're submitting a new study permit application — including an extension — on or after September 1, 2026, you're assessed under the new amount. An application submitted before that date is assessed under the previous figure. Quebec runs its own financial requirements, separate from this update.
Why This Is Worth Pausing On, Not Just Noting
If a Canadian study permit is part of your longer-term plan toward permanent residence, this is a good moment to check that the study path is actually still the right first step — not just to recalculate the number. A higher cost-of-living requirement changes the real cost of that route, and it's worth weighing against the alternatives before you commit funds to it.
One Important Distinction
This is not the same figure as the proof of funds required for Express Entry permanent residence — those are two separate requirements IRCC updates on different schedules, and I see people conflate them constantly. If you're further along and asking about the Express Entry number specifically, I've broken that down separately: How Much Proof of Funds Do You Actually Need — and When?
If you're weighing whether a study permit is actually the right move toward your Canadian future, or you have questions about how this changes your plan, send me a DM.
