Canada Student Visa: Indian Students Must Show Rs 14 Lakh to Study in Canada
Studying in Canada is set to become more expensive for international students, with a significant change in financial requirements announced by Immigration, Refugees and Citizenship Canada (IRCC). Starting from September 1, 2025, students planning to study in Canada must show proof of higher living expenses—excluding tuition costs.
For Indian students, this means they must demonstrate access to at least ₹14 lakh for living expenses alone, marking a substantial increase from previous thresholds. This new rule applies to all provinces and territories except Quebec.
What’s Changing?
Previously, a single student was required to show approximately CAD 20,635 for living expenses. Under the new regulation, the amount has increased by nearly 11% to CAD 22,895 per year. Students applying before September 1, 2025, can still follow the existing financial guidelines.
The change aims to ensure students can cover not just tuition, but also housing, food, transportation, and other essentials, along with expenses for any family members joining them. Importantly, IRCC clarified that students must not rely on part-time jobs in Canada to prove financial readiness.
Acceptable Proof of Funds
To meet the updated requirements, applicants must submit credible financial documentation such as:
- Tuition or housing payment receipts
- Bank statements for the last four months
- Proof of a student loan or Guaranteed Investment Certificate (GIC)
- Bank drafts in convertible currency
- Canadian bank account statements showing transferred funds
- Official letters for scholarships or financial support
In countries with foreign exchange restrictions, students must also show proof that the funds can be legally transferred to Canada.
Why This Change?
The updated financial requirement is part of Canada's broader move to protect international students from financial vulnerability. By linking the thresholds to the country’s Low Income Cut-Off (LICO), the government ensures the benchmarks reflect inflation and real living costs.
The new rules are designed to reduce over-dependence on part-time work and help students avoid falling into hardship or exploitation after arriving in Canada.
What About Quebec?
Students planning to study in Quebec are subject to separate guidelines, including proof of adequate funds for tuition, travel, settlement, and health insurance. Unless covered by Quebec’s public plan or a social security agreement, students must purchase private health coverage for the full duration of their stay.
What Should Students Do Now?
If you’re planning to study in Canada:
- Calculate total expenses, including tuition, living costs, travel, and any dependents.
- Gather all financial documents early, especially if you’re from a country with foreign exchange controls.
- Consider applying before September 1, 2025, to qualify under the current fund requirements.
- Stay updated by regularly checking the official IRCC and Quebec immigration websites.
This update reflects Canada’s ongoing efforts to maintain a sustainable and secure environment for international students—ensuring they arrive well-prepared for the financial realities of studying and living abroad.
