Immigration, Refugees and Citizenship Canada (IRCC) has announced that the minimum cost-of-living requirement for study permit applicants will increase effective September 1, 2026.

This annual adjustment is intended to better reflect the cost of living in Canada and help reduce financial vulnerability among international students. As a result, the minimum cost-of-living requirement will be updated annually by IRCC.

Updated Financial Requirement

For study permit applications submitted on or after September 1, 2026, a single applicant studying outside Quebec must demonstrate a minimum of $23,448 CAD in living expenses, in addition to tuition fees and travel costs.

Timeline of Living Expense Requirements (Outside Quebec)

NOTE: These amounts do not include tuition fees or transportation costs.

For the detailed amount when bringing your family to Canada, please visit IRCC’s website Proof of Financial Support.

Who Is Affected?

The updated financial requirement applies to both:

• International students applying for a new study permit, and
• Current international students who need to apply for an extension of their study permit within Canada.

If you plan to apply or extend your study permit on or after September 1, 2026, make sure your proof of funds for living expenses reflects the new minimum amount.

What Funds Must You Show?

As a study permit applicant, you must demonstrate sufficient funds to cover:

• One year of tuition fees,
• IRCC's minimum one-year living expenses requirement, and
• Travel costs to and from Canada (for new study permit applicants)

When assessing financial capacity, IRCC officers will consider whether:

• Your funds are readily available and not dependent on future employment in Canada, and
• There is a reasonable likelihood that funding will continue to be available for future years of study.

Resources Links

Study permit: Get the right documents – Proof of financial support

How much money should I show in my study permit application?

Study permit: Assessing the application

Questions?

If you have questions, connect with an International Student Advisor, Immigration Specialist for assistance.