Canada raises proof-of-funds threshold for study permit applicants to CAD $23,448

# Summary

On 1 September 2026 Canada raised the minimum proof-of-funds a single study-permit applicant outside Quebec must show to CAD $23,448 per year. The increase of CAD $553 (2.6%) updates the previous threshold of CAD $22,895 and aims to align the requirement with cost-of-living changes.

# What changed

Immigration, Refugees and Citizenship Canada (IRCC) now sets the federal living-cost threshold at CAD $23,448 for single applicants applying to study outside Quebec. The federal government will update this financial requirement annually to track cost-of-living movements rather than making larger sporadic increases.

Quebec continues to operate its own requirement: a single applicant must show CAD $24,617 for first-year living expenses, effective 1 January 2026.

# Why the update happened

IRCC provided the updated figure and additional guidance on what documents count as proof of funds after analysis showed financial documentation was the most common reason for study-permit denials. In a review of nearly 3,000 study-permit decisions in June 2026, 47% of refusals were due to missing or insufficient financial documentation.

# What documents can be used

IRCC published information on acceptable documents to prove access to required funds. The article does not list those documents in full, but the guidance is intended to reduce preventable refusals by clarifying what applicants should submit.

# How Canada compares internationally

• Canada (federal, outside Quebec): CAD $23,448 per year (USD $16,981).
• Quebec: CAD $24,617 per year.
• Australia: AUD $29,710 (about USD $21,415) — a higher benchmark.

# Practical implications for applicants and advisers

• Update budget plans and application files to show at least CAD $23,448 in living funds per year for federal study-permit applications made after Sept 1, 2026. This amount does not include tuition or travel costs.
• Applicants to Quebec must meet the separate CAD $24,617 requirement for their first year.
• Review IRCC's guidance on acceptable documentation and supply clear, verifiable proof of funds to avoid one of the most common refusal reasons.

# Next steps for applicants

• Confirm which jurisdiction applies (federal vs Quebec) to your application.
• Gather and organize bank statements, proof of loans, affidavits of support, or other documents IRCC lists as acceptable.
• Budget for both the living-cost threshold and tuition/travel expenses separately.

# Bottom line

Canada raised the federal living-cost threshold for single study-permit applicants to CAD $23,448 effective Sept 1, 2026 and will update the figure yearly in line with inflation. Clearer IRCC guidance on acceptable proof-of-funds aims to cut a leading cause of refusals, while Quebec maintains its own higher amount for first-year living expenses.