New IRCC Proof of Funds Requirement for International Students in Canada (Effective September 1, 2025)
On September 1, 2025, Immigration, Refugees and Citizenship Canada (IRCC) implemented a significant change for international students applying for study permits. The minimum proof-of-funds requirement increased by approximately CA $2,260, raising the total to CA $22,895.
This update is designed to ensure that international students arriving in Canada have the financial resources necessary to cover tuition fees, housing, food, and daily living expenses during their studies.
Why Did IRCC Raise the Financial Requirement?
In recent years, Canada has seen a surge in international student applications. While many come prepared, others have struggled with the true cost of living in Canadian cities. The new proof-of-funds threshold aims to:
Promote financial stability for students throughout their stay in Canada.
Reduce financial vulnerability and reliance on emergency assistance.
Ensure a more sustainable international student program, aligned with Canada’s broader immigration and housing policies.
What Does This Mean for Prospective International Students?
If you plan to apply for a study permit after September 1, 2025, you must demonstrate that you have access to CA$22,895 or more in addition to tuition costs. For example, if your tuition is CA$20,000 per year, you must show at least CA$42,895 in available funds. These funds can come from personal savings, parental support, scholarships, or sponsorships.
For students aiming to study in Quebec, separate proof of funds must be shown to both Quebec’s immigration ministry (MIFI) and IRCC.
Common Questions Students May Have
What if I already applied before September 1, 2025? Applications submitted before the change are assessed using the previous requirements.
Can part-time work help me meet this requirement? While on-campus and limited off-campus work is allowed, IRCC expects proof of funds upfront, independent of potential earnings in Canada.
How do I show proof of funds? Acceptable documents include bank statements, official letters from financial institutions, scholarship award letters, or proof of student loans.
✅ How Ayodele Law Can Help
At Ayodele Law, we understand how stressful navigating new immigration requirements can be. Our team has extensive experience helping students and their families:
Review and prepare proof-of-funds documentation.
Strengthen study permit applications to minimize refusal risks.
Provide guidance on scholarships, sponsorships, and compliance with IRCC rules.
Don’t let the new financial requirements discourage your dream of studying in Canada. With the right preparation, you can meet IRCC’s standards and set yourself up for success.
📞Book a consultation today to give your application the best possible chance of success
