Canada Raises Study Permit Proof of Funds from September 1: C$23,448 a Year for One Person; Undergraduates Still Need a PAL, Master’s and PhD Students Exempt

Immigration, Refugees and Citizenship Canada (IRCC) has updated the proof-of-funds requirement for study permits: for applications submitted on or after September 1, 2026, a single applicant studying outside Quebec must show C$23,448 a year for living expenses, up from C$22,895. This excludes tuition and return travel, which must also be covered.

Living-expense requirement (outside Quebec, per year, CAD)

• 1 person: 23,448 (previously 22,895)
• 2 people: 29,192 (previously 28,502)
• 3 people: 35,888 (previously 35,040)
• 4 people: 43,572 (previously 42,543)
• Above 7 people, add 6,318 for each additional family member.
• Students going to Quebec show the amounts set by Quebec's immigration ministry when applying for a Quebec Acceptance Certificate (CAQ).

How to show it

• You must show you can pay tuition, living costs for yourself and accompanying family, and return travel without working in Canada; at least the first year must be covered, and for longer programs you must explain how you will pay for the rest.
• Common documents: receipts for first-year tuition and housing (plus proof of funds for living costs and travel), a Canadian bank account, a GIC from a participating Canadian institution, an education loan, the past 4 months of bank statements, a bank draft convertible to Canadian dollars, a support letter with the sponsor's employment details, or scholarship proof.
• If your country has foreign exchange controls, you must show you can transfer the funds out.

Provincial attestation letters and the cap

• Most study permit applicants need a provincial or territorial attestation letter (PAL/TAL) confirming the school has a place for you within the province's allocation; international undergraduates usually need one, so ask your school how to obtain it.
• Since January 1, 2026, master's and doctoral students at public institutions are exempt, as are K–12 students and those extending at the same school and level. Students going to Quebec need a CAQ instead.
• Canada plans to issue up to 408,000 study permits in 2026: 155,000 to new arrivals and 253,000 extensions, 7% below the 2025 target. The 180,000 permits for PAL-required applicants are split by population, including 70,074 for Ontario, 24,786 for British Columbia, 21,582 for Alberta and 39,474 for Quebec.
• The government aims to bring temporary residents below 5% of the population by the end of 2027; check official announcements for 2027 study permit numbers.

Advice for students and families

• If you apply after September 1, prepare funds at the new level with a margin for exchange-rate swings.
• After an undergraduate offer, ask your school early about PAL timing, since you need it before applying for a study permit.
• For 2027 entry requirements at the University of Toronto, UBC and McGill, see our related news items.

Sources: IRCC, Proof of financial support; Provincial attestation letter; 2026 allocations under the international student cap. Check the official sources for the latest policy.