Canada Hikes Study Visa Fund Requirements for Indians

by Nakul_Mehra

Source: Business Standard826×465 93.6 KB

Starting September 1, 2025, international students applying for a Canadian study permit will need to show higher proof of funds, according to Immigration, Refugees and Citizenship Canada (IRCC).

New Financial Thresholds

The minimum required funds for a single applicant are now CA$22,895 (₹14.12 lakh), an increase of CA$2,260 (₹1.39 lakh) from last year. The amount increases with each accompanying family member:

1 person (applicant): CA$22,895 (₹14.12 lakh)

2 people: CA$28,502 (₹17.58 lakh)

3 people: CA$35,040 (₹21.62 lakh)

4 people: CA$42,543 (₹26.22 lakh)

Each additional person: CA$6,170 (₹3.80 lakh)

Quebec Rules Differ

Students heading to Quebec must also meet provincial fund requirements, which range from CA$7,756 (₹4.78 lakh) for a single minor to CA$27,499 (₹16.97 lakh) for a family of four.

What Counts as Proof of Funds?

Tuition and housing payment receipts

Canadian bank accounts in a student’s name

GICs (Guaranteed Investment Certificates)

Education loans, bank statements, or drafts

Scholarship or sponsor letters

Declining Indian Student Numbers

Canada admitted 278,045 Indian students in 2023, but the numbers dropped to 188,846 in 2024. In Q1 2025, only 30,000 permits were issued, representing a 31% year-over-year decline, reflecting stricter policies and permit caps.

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Source: Business Standard