Indian students who are planning to study in Canada will have to meet a higher financial requirement from September 1, 2026 onwards. The Canadian government has updated the amount that applicants must demonstrate for living expenses.
According to Immigration, Refugees and Citizenship Canada (IRCC), international students must demonstrate that they have at least CAD 23,448 in living expenses for one person, excluding tuition fees and transportation costs. The amount was CAD 22,895 for applications submitted between January 1, 2025 and August 31, 2026.
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How much funding will students need?
From September 1 onwards, students applying for a study permit can check the amount they will need, excluding tuition and transportation.
CAD 23,448 for 1 family member
CAD 29192 for 2 family members
CAD 35,888 for 3 family members
CAD 43,572 for 4 family members
{{/usCountry}}CAD 43,572 for 4 family members
{{/usCountry}}CAD 49,419 for 5 family members
CAD 55,736 for 6 family members
CAD 62,054 for 7 family members
For every additional family member beyond seven, applicants will need to show another CAD 6,318 per year.
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What can Indian students submit as proof of funds?
The proof of funds to be submitted by an Indian student will include: a Canadian bank account, a Guaranteed Investment Certificate (GIC), a student or education loan, bank statements, proof of scholarships or other funding, evidence of paid tuition or housing fees, or documentation showing financial support from another person or institution.
Students whose courses last longer than one year must also explain how they intend to finance the full duration of their studies. For example, students can show proof that their scholarship is more than a year long, proof that their parents are employed, etc.
The Canadian government will assess the student's funds and their source, and confirm that the student has sufficient funds for the full duration of their studies.
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What this means for Indian applicants
Students from India who want to study in Canada will need to account for the higher cost of living when arranging and documenting their finances. Students must ensure that their bank statements, loan documents, scholarship letters or sponsor documents clearly establish the source and availability of funds before submitting their applications.
For more related details, candidates can check the official website of IRCC.