What changed
IRCC raised the minimum cost-of-living financial requirement for study permit applicants. For applications submitted on or after 1 September 2025, a single applicant must demonstrate CAD 22,895 in available funds, up from CAD 20,635. This amount is set at 75% of Canada's Low-Income Cut-Off (LICO) and is required in addition to first-year tuition and travel costs. The figure applies to students studying in provinces and territories outside Quebec, and is adjusted annually as Statistics Canada updates LICO.
What it means for students
Indian applicants must show higher liquid funds at the time of application. Proof can include bank statements, an approved education loan, a Guaranteed Investment Certificate (GIC), or scholarship letters. Families should budget for the updated amount plus tuition and travel, and expect the threshold to rise again in future years as the cost-of-living index is updated.