Starting September 1, 2025, international students applying for study permits in Canada must meet stricter financial requirements. The government has increased the minimum proof of funds needed to ensure students can manage the cost of living while studying.

This update responds to rising living expenses and the growing number of students facing financial challenges after arrival. While Canada remains one of the most attractive destinations for higher education, applicants must now prepare carefully to meet these new rules.

What Has Changed

• Applicants must show higher proof of funds.
• Only certain documents will be accepted, such as recent bank statements, guaranteed investment certificates, scholarship letters, or proof of sponsorship.
• Students applying to institutions in Québec will have different cost-of-living thresholds set by the province.

Tips for Students Preparing to Apply

1. Start saving early
   Build your funds well before applying. Immigration officers look for stable account balances, not last-minute deposits.
2. Keep documents ready
   Collect updated bank statements, scholarship letters, or sponsor documents. Ensure they are in English or French and officially certified.
3. Check official requirements for your province
   Québec and some provinces may have separate cost-of-living amounts. Always verify the latest rules on the Government of Canada website before applying.
4. Explore scholarships and bursaries
   Apply for scholarships from Canadian universities and external organizations. Every award reduces the funds you need to show.
5. Plan for part-time work
   Students are allowed limited work hours in Canada. Factor this into your budget but don’t rely on it as your only source of income.
6. Keep a financial cushion
   Aim to show more than the minimum required. A buffer improves your chances of approval and helps you handle unexpected expenses.

Why This Matters
In early 2025, Canada issued 31 percent fewer student permits to Indian applicants compared to the year before. Stricter financial rules are part of the reason. Students who prepare thoroughly with proper documentation and stronger financial backing will have a better chance of success.

Final Note
Canada continues to offer world-class education, clear work pathways, and permanent residency opportunities. With careful planning, international students can still achieve their study goals while meeting the new requirements.

Source –

1. Times of India – Canada tightens financial requirements for international students, changes take effect from September 2025
2. Economic Times – Canada sees sharp drop in Indian student permits as visa rules tighten