Blog Canada Study Permit Funds Rise to $22,895: Your Guide for 2025
Canada Study Permit Funds Rise to $22,895: Your Guide for 2025
The cost to study in Canada just went up. Effective September 1, 2025, you'll need to show more money to get your study permit. We'll tell you the exact amount, why it changed, and how to prove you have the funds, step-by-step.
The Cost to Study in Canada Just Went Up. Here's Exactly What to Do.
Hearing that the amount of money you need to study in Canada has increased can be stressful. Your first thought might be, "Can I still do this?"
Yes, you can.
Let’s get straight to the facts. On September 1, 2025, Immigration, Refugees and Citizenship Canada (IRCC) officially changed the minimum amount of money you need to have for your living expenses. It’s a big update, but it’s manageable, and we're going to break it down for you in simple terms.
The New Number You Need to Know
The change in the cost-of-living requirement affects all applicants. Here is a clear breakdown of the old amounts versus the new amounts you must prove you have:
Requirement
Amount (Before Sept 1, 2025)
Amount (On or After Sept 1, 2025)
Single Applicant
$20,635 CAD
$22,895 CAD
Applicant + 1 Family Member
$25,690 CAD
$28,502 CAD
This is a critical point: this money is for your living expenses only. It does not include your tuition or your plane ticket. You must show that you have separate funds to cover your first year of tuition and your travel costs on top of these amounts.
This isn't a random number. As stated on the official Government of Canada website, this is now tied to the real cost of living so students who arrive are better prepared for life in Canada.
Why Did They Change This?
It’s easy to see this as just another barrier, but the reason behind it is actually to protect students. For years, the old amount wasn't keeping up with the real cost of rent, food, and life in Canada. Students were arriving and finding it incredibly difficult to make ends meet.
"This change is about setting you up for success, not failure. A realistic financial plan means you can focus on your classes from day one, instead of worrying about how you'll pay for groceries. It’s about ensuring your Canadian journey starts on solid ground." - Jay Sharma ( RCIC )
By making sure you have a realistic budget, the government helps you avoid financial trouble and allows you to have a safer, more stable experience as a student.
How to Prove You Have the Money (The Right Way)
A screenshot of your bank account isn't enough. You need to present a clear and convincing financial story to the visa officer.
Your Simple Financial Checklist:
Get a GIC (Guaranteed Investment Certificate): This is the best way. A GIC for the required amount from a Canadian bank is the most trusted proof for IRCC. It shows you're serious and your money is ready.
Use Clear Bank Statements: Provide your last four months of bank statements. If someone recently deposited a large sum of money into your account, you must explain it. Include a gift deed or a letter to show where that money came from.
Show Your Loan Approval: If you have an education loan, include the official approval letter.
Include Your Sponsor's Info: If your parents are paying, include their bank statements, a letter confirming they are your sponsor, and proof of their job and income.
Show You've Paid Tuition: A receipt from your university showing you've already paid some or all of your tuition is excellent proof of your commitment.
Your goal is to make the visa officer's decision easy. When your documents are organized and the source of your funds is clear, it builds incredible trust.
Don't Let This Stop You
This new rule isn't a red light; it's just a new step in the process. With careful planning, you can meet this requirement and submit an application that is stronger than ever.
You don't have to figure this out alone. If you're feeling unsure about your financial documents or how to present them, let's talk. Book a consultation with us, and we’ll build a clear strategy to get you here.
Frequently Asked Questions
1. Is the $22,895 CAD enough for everything? No. Think of it as your "living money" for one year. You still need to show you have enough for your first year of tuition and for your travel to Canada.
2. I am bringing my husband/wife. How much do we need? The amount goes up for each family member. For you and one other person, the new amount for living expenses is $28,502 CAD. You should always double-check the official IRCC website for the exact number based on your family size.
3. What if my application is already in before September 1st? If your application was officially submitted before September 1, 2025, it will be assessed using the old requirement ($20,635 CAD). Any application submitted on or after that date must meet the new, higher amount.
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