CNN Central News & Network-ITDC India Epress/ITDC News Bhopal: Financial rules have become stricter for Indian students planning to study in Canada. The Canadian government has raised the proof-of-funds threshold required for a study permit from September 1, 2026. A single student will now have to show proof of access to at least 23,448 Canadian dollars, or about ₹22.76 lakh, for living expenses, in addition to tuition fees and travel costs.
The new threshold will apply to students applying to study in Canadian provinces and territories other than Quebec. According to the government, the change is aimed at ensuring that international students have sufficient financial resources during their studies, taking into account the rising cost of living in Canada.
What expenses must students show funds for?
For a study permit, it is not enough for students to show only the prescribed amount in a bank account. They must prove they have the financial capacity to cover first-year tuition fees, living expenses and transportation costs to and from Canada. For courses lasting more than one year, applicants may also be required to explain how they plan to meet fees and expenses for the entire programme.
Which documents can prove funds?
Students can prove their financial capacity through bank statements, letters from banks or financial institutions, education loan documents, scholarship-related proof or other acceptable financial documents. The government also checks whether the applicant genuinely has sufficient funds for study and living expenses.
The Canadian government updates this financial threshold every year on the basis of the cost of living. The latest increase may directly affect Indian students preparing to apply for study permits for higher education in Canada. For such students, proper preparation of financial documents and budgets before applying has become more important than before.
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