Canada raises proof-of-funds requirement for Nigerian, other international students

Canada has raised the amount international students must show to obtain a study permit. According to Vanguard, the new financial requirement takes effect September 1, 2026, requiring applicants to prove sufficient funds for tuition, living expenses and transportation without relying on employment.

Vanguard reports that a single applicant must show C$23,448 for one year, excluding tuition, with amounts rising per accompanying family member. Acceptable proof includes bank statements, scholarships, loans and sponsor letters. Students in programmes longer than a year must also show how they will finance subsequent years of study.