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The new financial requirement for study permit applicants is in effect

Starting from January 1, 2024, the cost-of-living requirement for study permit applicants has increased to CAN$20,635, excluding tuition and travel costs. This aims to ensure international students are better equipped for life in Canada. This change applies to new applications received from 2024 and will be adjusted annually. In Quebec, applicants must meet costs outlined by the Ministere de l’Immigration, de la Francisation et de l’Integration. For the Student Direct Stream (SDS), the required guaranteed investment certificate amount varies by province. Applications before 2024 will be assessed using the CAN 10,000 guaranteed investment certificate requirement, while those received from 2024 require CAN 20,635.

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