CNN Central News & Network-ITDC India Epress/ITDC News Bhopal: Studying in Canada has become costlier, with study permit applicants required to show ₹22.76 lakh.
Financial rules have become stricter for Indian students planning to study in Canada. The Canadian government has raised the proof of funds requirement for study permits from September 1, 2026. A single student will now have to show proof of having at least 23,448 Canadian dollars, or about ₹22.76 lakh, available for living expenses, in addition to tuition fees and travel costs.
The new limit will apply to students applying to study in Canadian provinces and territories other than Quebec. According to the government, the change aims to ensure that international students have adequate financial resources during their studies, taking into account the rising cost of living in Canada.
What expenses must students show money for?
For a study permit, it is not enough for students to show only the prescribed amount in a bank account. They must prove their financial ability to cover first-year tuition fees, living expenses and transportation costs to and from Canada. For courses longer than one year, they may also have to explain how fees and expenses for the entire programme will be covered.
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 actually has sufficient funds available 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 obtain 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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