IRCC Increased Canada Study Permit Financial Amount: Check New Update

Canada has raised its study permit financial requirement. Check the new CAD 23,448 living fund rule and what Indian students need for Canada in 2027. Earlier, it was CAD 22,895. IRCC requires students to show that they have sufficient funds without relying on employment in Canada.

Canada has increased the financial requirement for international students. From September 1, 2026, a single student applying for a study permit outside Quebec must show CAD 23,448 per year for living expenses. This is important for Indian students planning to study in Canada in 2027.

The new amount is meant to cover living expenses only. Students must show separate funds for their tuition fees and transportation to and from Canada. The new amount is higher than the previous requirement of CAD 22,895. The increase is CAD 553.

What Proof of Funds Do Indian Students Need to Get a Canadian Study Permit?

Students must prove that they have enough money to support themselves without working in Canada.

For the first year, students need to show funds for:

• Tuition fees
• Living expenses
• Transportation to and from Canada

For courses longer than one year, students must also explain how they will pay for the remaining years of study.

Accepted proof can include:

• Bank statements
• Education loan documents
• Scholarship letters
• Proof of paid tuition or housing
• Financial support from parents or sponsors

What Does This Mean for Indian Students to Study in Canada in 2027?

Indian students should not treat CAD 23,448 as their total Canada study budget. It is only the minimum living-expense requirement for one student outside Quebec. Tuition, travel, and other study costs must be planned separately.

Students planning to study in Quebec must follow Quebec's separate financial requirements.

How Much Money Do You Need to Show for Canada?

For a single student applying outside Quebec from September 1, 2026, the minimum living-expense requirement is CAD 23,448. But this is not your total study budget.

Example: If your first-year tuition is CAD 30,000, you should not assume that paying this amount meets the financial requirement. You still need to show the required living funds and transportation costs separately.