Canada Hikes Study Visa Fund Requirements for Indians
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