Canada has raised its study permit proof-of-funds threshold for single applicants to $23,448, effective September 1, 2026.
The amount is an increase of $553 over the previous $22,895 baseline.
The move reflects Ottawa’s ongoing effort to align student financial benchmarks with the rising cost of living in Canadian urban centers.
Prospective students must still demonstrate additional, verifiable coverage for first-year tuition and return travel costs, pushing the total realistic financial threshold past $40,000 for most program enrollees.
The updated benchmark, anchored to 75 percent of Statistics Canada’s Low-Income Cut-Off (LICO), strictly covers living expenses.
