‘₹14 lakh benchmark’: Canada’s new foreign student fund limit to impact Indian students. Check details 

Canada has raised the financial bar for international students, hiking the minimum living expense requirement by CAN $2,000 starting September 1, 2025. The updated threshold, announced by Immigration, Refugees and Citizenship Canada (IRCC), pushes the funds Indian students must show for living costs to at least CAN $22,895 (approximately ₹14 lakh), up from the current CAN $20,635.

The revised requirement applies to international students in all provinces and territories outside Quebec. Students must prove they have sufficient funds to support themselves and any accompanying family members while studying in Canada.

For those applying for a study permit on or after September 1, 2025, the required living expenses will be CAN $22,895 for a single person. For two people, the amount rises to CAN $28,502, while three people will need CAN $35,040. A family of four must show CAN $42,543, and five people will need CAN $48,252. The requirement increases to CAN $54,420 for six people and CAN $60,589 for seven. Each additional family member beyond that will add CAN $6,170 to the required funds. The current amount of CAN $20,635 will remain valid for applications submitted before September 1, 2025.

To meet the proof of funds requirement, IRCC accepts several types of documents. These include proof of a Canadian bank account in the student’s name if money has been transferred to Canada, a Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution, proof of a student or education loan from a bank, bank statements for the past four months, a bank draft convertible to Canadian dollars, a letter from the person or school providing financial support, or proof of funding from within Canada such as scholarships or Canadian-funded educational programs.