Canada Study Visa Update 2025: Increased Fund Requirement for International Students 28 Jul 2025
Introduction
Are you planning to study in Canada in 2025? Here`s an important update that every aspiring international student must know. The Immigration, Refugees and Citizenship Canada (IRCC) has announced a revision in the proof of funds requirement for student visa applicants. Effective September 1, 2025, students will now have to show higher financial support than before. This change reflects the rising cost of living and aims to ensure that students are financially prepared to sustain themselves during their education in Canada.
What Has Changed?
Earlier, international students needed to show CAD 20,635 as their cost-of-living funds (excluding tuition and travel). Now, for applications submitted on or after September 1, 2025, this amount has increased to CAD 22,895. That’s an increase of CAD 2,260, which can significantly impact the total financial planning for your Canadian education journey.
Breakdown of Financial Requirements (as of Sept 2025)
- Tuition Fee: Varies by course and university (approx. CAD 15,000 – CAD 30,000 per year)
- Living Expenses: CAD 22,895 (revised)
- Travel and Miscellaneous: CAD 1,500 (approx.)
Total Estimated Proof of Funds Required: Minimum CAD 40,000 to CAD 55,000 depending on institution and course
Why This Matters for Indian Students
Indian students make up one of the largest international student communities in Canada. This change directly affects the documentation required during the Study Permit application process. Students must now be more financially prepared and ensure their bank statements, GIC (Guaranteed Investment Certificate) or education loan letters meet the revised amount.
Documents You Can Use to Show Proof of Funds
- Recent bank statements (last 4-6 months)
- Fixed deposits
- GIC certificate (commonly used in SDS category)
- Education loan sanction letter from a recognized bank
- Sponsor’s affidavit (if applicable) with financial documents
Tips to Meet the New Requirements
1. Plan Early: Start your financial planning at least 6 months before your intake.
2. Use GIC Schemes: For faster visa processing under SDS, use approved GIC providers.
3. Choose Affordable Cities: Opt for institutions in cities with lower living costs.
4. Seek Scholarships: Explore Canadian university scholarships to offset tuition.
Conclusion
While the increased fund requirement may seem like a challenge, it ensures that international students have a smoother and more secure experience while studying in Canada. At Ewayy Study Abroad, we help you understand and navigate such changes with ease. From selecting the right course and university to ensuring your documents are visa-ready, we`re with you at every step.
Planning to study in Canada in 2025?
Reach out to our expert counselors today and get started on your journey the smart way!
Call us at +91 96257 62266
Email: admission@ewayystudyabroad.com