Canada Increases Fund Requirement for Foreign Students: Indians Must Show Rs 14 Lakh for Living Expenses

Canada has increased the fund requirement for foreign students by $2000 (Canadian) which will be applicable to all foreign students starting from September 1, 2025. Immigration, Refugees and Citizenship Canada announced the updated requirement of financial support requirement. Indian students will need at least CAN $22,895 (₹14 lakh) for living expenses, up from the current CAN $20,635.

The new requirement applies to international students studying in all provinces and territories outside Quebec. International students must provide proof that they have these funds as living expenses to support themselves and any accompanying family members in Canada.

1 person: CAN $22,895
2 people: CAN $28,502
3 people: CAN $35,040
4 people: CAN $42,543
5 people: CAN $48,252
6 people: CAN $54,420
7 people: CAN $60,589
Each additional family member: CAN $6,170

This requirement applies only to study permit applications submitted on or after September 1, 2025. The current amount—CAN $20,635—will remain in effect for all applications submitted before that date.

The IRCC has specified documents that can be used as proof of funds.