Official: Canada Requires Proof of Funds' Source from International Students

Starting September 1 , 2026, Canadian immigration officials will conduct more thorough checks on all student visa applications.

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What was previously limited to cases considered "high risk" now applies to all applicants seeking to study in Canada, except in Quebec.

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Learn the details of this new policy to avoid the risk of having your application rejected or, worse yet, being deported for violating the law if you drop out of school.

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In this blog post, I'll provide more details about this announcement and offer recommendations on how to properly submit proof of your financial resources when applying for a visa.

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New amounts effective September 1

The minimum annual living expenses required by IRCC for a single student (1 person) will increase from CAD $22,895 (for applications submitted between January 1, 2025, and August 31, 2026) to CAD $23,448 for applications submitted on or after September 1, 2026.

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This update represents an increase of $553 CAD that the applicant must demonstrate they have to cover their first year of stay, in addition to tuition and transportation costs.

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How to Verify Account Balances and Account Tenure

We know that the financial aspect can often be a source of concern when planning to study in Canada, but understanding the requirements of Immigration, Refugees and Citizenship Canada (IRCC) is easier than it seems.

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The key is to clearly demonstrate the source of your funds and how you will support yourself throughout your stay without any problems—not just to show that you have a large amount of money set aside.

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Expenses That IRCC Requires You to Document

To approve your study permit, the immigration officer must verify that you have sufficient funds to cover your basic expenses without having to work in the country. 

This includes the total cost of your first year of tuition, housing, meals, and utilities, as well as round-trip airfare to Canada, whether you are traveling alone or with someone else.

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How to Prove Your Financial Capacity

It is not enough to simply show a number in a screenshot; you must prove that your funds are actually available by providing official documentation showing that you can cover 100% of the costs for the first year (tuition, transportation, and living expenses).

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You may submit any of these official documents as proof:

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• A receipt issued by your university or college in Canada certifying payment of tuition or housing for your first year.
• A letter or certificate from the bank confirming that you have been approved for a loan to cover your studies.
• Document proving that you received an academic scholarship or funding from a government program. (If your scholarship or loan only covers tuition, attach your bank statements to document your transportation and living expenses.)

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If you receive financial support from a family member, a sponsor, or a company, or if you have income from your own employment, you may include any of the following documents:

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• Pay stubs showing your income or that of your sponsor.
• A document signed by the person or institution that will provide you with the money, specifying their relationship to you, their occupation, their dependents, and the exact amount they will provide.
• A copy of the sponsor's official photo ID (or business registration, if the support comes from a company).
• Official documents proving your legal or family relationship and that the funds are genuinely available for use in Canada.

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Documents proving a legal or family relationship

To meet this requirement clearly and without complications, you simply need to provide the following documents to prove two things:

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1. That the connection with their sponsor is real:

• If supported by their parents: Their birth certificate listing their parents' names.
• If your partner supports you: Your marriage certificate or official document of domestic partnership.
• If sponsored by a company: The company's business registration and the contract or document certifying your employment or institutional relationship with them.

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2. That the money can actually be transferred and used in Canada:

• Letter or Affidavit of Support: A document signed before a notary in which your sponsor declares under oath that they authorize and commit those funds strictly for your studies and living expenses in Canada.
• Bank certification of funds' availability: A letter or account statement issued by the bank confirming that the funds are active, free of liens or legal restrictions, and ready for international transfers.

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If the money comes from your own savings or your regular income, you may submit:

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• Bank statements for the last 6 months from your local or Canadian bank, accompanied by documents proving the source of the funds (pay stubs, savings statements, or proof of the sale of assets).

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• A certificate showing your account in your name at a Canadian bank or proof of your Guaranteed Investment Certificate (GIC).

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• Current lease agreements showing rent payments, or official proof of retirement.

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Plan for Longer-Term Programs

If your program lasts two years or longer, you must outline a logical strategy for how you will fund the remainder of the program (for example, ongoing revenue from your sponsors, multi-year grants, or scheduled savings).

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Proof of funds, amount, and duration in the bank account

As a general and legal requirement, when a foreign national applies for a study permit for Canada, they must provide proof that there are sufficient funds in their personal bank account or their sponsor’s bank account to cover educational expenses and living costs.

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The new requirement under this order is that applications for a study permit must be accompanied by documentation and records showing that the funds are in a bank account for the purpose of studying in Canada and will remain there for the duration of the studies.

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In addition, they must demonstrate the source of their funds and their availability for the trip and the educational program.

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Breaking the Law: Reporting Borrowed Funds Weakens the System

Generally speaking, there are people who travel abroad thanks to financial support from family members or friends who lend them money so they can deposit it into an account and prove that they have the means to support themselves in the destination country.

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For decades, the Canadian system has tolerated this practice, which only undermines its international standing as a leader in education.

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Study visa applicants used borrowed funds to show that they had enough money to travel and support themselves, but the money was borrowed.

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They didn't have enough money for the trip, and when they spent it before the program ended and were left without financial support, they dropped out of school.

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IMPORTANT: Dropping out of school without an authorized justification automatically revokes your legal status and puts you at risk of deportation. 

As a holder of a student permit, you have a legal obligation to be enrolled and to actively work toward completing your academic program.

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Recommendations

Throughout our history as a Canadian immigration consulting firm, we have encouraged clients to raise more funds than IRCC requires, demonstrate their financial support, and pay attention to even the smallest details—even if the government does not request them. This is the key to building a flawless application.

The source of the money is just as important as the amount. 

So now more than ever, as an international student, you should check the specific requirements of your respective visa office. 

If your country of origin imposes foreign exchange restrictions, you must provide official documentation proving that you have the necessary authorization to transfer money abroad and cover your expenses in Canada.

Also, keep in mind that the Canadian government updates the proof-of-funds requirements each year to reflect changes in the cost of living.

If you are not a client of Immiland Canada for a student visa and decide to apply on your own, remember that the key to a successful application following this change is to provide solid evidence of the source of your funds.

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I hope this information is helpful enough and that you can successfully apply it to your application.

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Do you need help with your student visa application? At Immiland Canada, we can assist you.

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If you would like your file reviewed before submission, you can explore our service Pre-submission Review.

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If you'd like, you can Schedule a consultation so our team can handle your application.

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If you need to support your documentation, you can explore our Affidavitservice.

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See you in our next blog post, where we'll continue to help you build your Canadian dream with professionalism, dedication, and empathy.

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With love,

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Immiland Canada