Planning to study in Canada? You now need to show more money to demonstrate that you can support yourself while studying.
Effective 1 September 2026, Canada increased the minimum living-expense funds required for a single study permit applicant outside Quebec from CAD $22,895 to CAD $23,448. That is an increase of CAD $553, or about 2.6%.
And importantly, this amount does not include tuition fees or transportation costs. Applicants must still demonstrate that they can cover those expenses as required.
What Students Need to Know
Canada updates its financial requirement annually to reflect changes in the cost of living.
For students applying outside Quebec, the new minimum for one applicant is:
CAD $23,448 — living expenses for one year
If family members are accompanying the student, the required amount increases according to the size of the family.
Quebec has a separate financial requirement. For a single applicant, the minimum living-expense amount is CAD $24,617 for the first year from January 2026.
Proof of Funds Is More Than Just Having Money
Canada’s immigration authorities require study permit applicants to demonstrate that they have sufficient funds for their studies and stay.
IRCC states that students must be able to cover their tuition, living expenses and return transportation, along with the expenses of accompanying family members where applicable.
This makes financial preparation one of the most important parts of a Canadian study permit application.
Why This Matters for Nigerian Students
For students planning to study in Canada, the increase means your financial planning needs to start before you submit your application.
You should not only think about the minimum living-expense figure. Your overall budget needs to take into account tuition, travel, accommodation and other study-related expenses.
And with Canada continuing to manage international student numbers — IRCC expects to issue up to 408,000 study permits in 2026, including permits for newly arriving students and extensions — applicants need to make sure their applications are properly prepared.
Thinking About Studying in Canada?
Don’t wait until you’re ready to submit your visa application before checking whether your finances and documents are in order.
At RoutePal, we assist students with the study-abroad process, from school admission planning to study visa preparation.
Planning Canada for your next academic move? Contact RoutePal and let’s help you get started.
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