Studying in Canada will now be costlier after Ottawa’s new, stricter financial requirements for study permit applicants.
The Canadian government’s latest guidelines for international students aim to ensure that they are more financially secure during their time in the country without having to take up a job there. The new guidelines will come into effect on 1 September 2025.
What will change?
The revised policy mandates prospective international students, including those from India, to demonstrate sufficient financial capacity to cover their tuition fees, higher living expenses, and transportation costs without relying on employment in Canada.
Therefore, after September, the Indian students planning to study in Canada will have to ensure that they have ₹14,33,861 (CAD $22,895) per year in their bank account as the cost-of-living requirement. This is excluding tuition fees.
This cost-of-living requirement for a single applicant has risen from the previous threshold of CAD $20,635 ( ₹12,92,322).
The required funds will scale upwards depending on the number of accompanying family members. For example, an applicant with two dependents will now have to show ₹21,94,475 (CAD $35,040) in available funds annually.
The changes apply to all provinces and territories, with specific provisions for Quebec.
Comparison of the financial requirements before and after the changes for applicants outside Quebec:
For Quebec:
Indian students wishing to study in Quebec must meet separate financial requirements set by the ministère de l’Immigration, de la Francisation et de l’Intégration.
In addition to tuition, the international students planning to study in Quebec must show funds to cover transportation, living expenses, settlement fees, and health insurance.
1. Cost-of-living requirement
One person
- Under 18: ₹4,85,682 (CAD $7,756)
- 18 or over: ₹9,71,113 (CAD $15,508)
Two persons
- 18 or over: ₹14,24,294 (CAD $22,745)
- 18 or over and one person under 18: ₹15,95,498 (CAD $25,479)
- Two persons under 18: ₹17,21,990 (CAD $27,499)
3. Settlement fees (first year only): ₹31,310 (CAD $500)
4. Proof of health and hospital insurance for the full duration of stay, unless exempt under Quebec’s insurance agreements.