Exciting news for future students wanting to study in Canada! Starting September 1, 2025, if you're applying for a study permit, you’ll need to show that you have over $2,000 more in your bank account than before. This change is part of the new financial requirements set by Immigration, Refugees and Citizenship Canada (IRCC).
For a single applicant, the total amount you'll need to show is now CAN$22,895. That’s an increase from CAN$20,635. If you're applying with family, the amount varies based on how many family members you have with you. Don't forget, this does not include your tuition and travel costs!
To prove you have these funds, you can provide various documents, such as:
- A Canadian bank account showing your money.
- A Guaranteed Investment Certificate (GIC).
- Bank statements from the past 4 months.
- A letter from someone supporting you financially.
IRCC updates these financial requirements every year based on living costs, so it’s essential to stay informed!
