07/29/2026
IRCC just updated how study permit funds are assessed.
A big bank balance alone may no longer be enough.
Officers are now instructed to look more closely at:
- Where your money came from
- Whether your funding is likely to continue throughout your studies
- Whether additional financial documents are needed to verify your finances
The updated guidance also confirms that applicants generally only need to show funds for:
• First-year tuition
• Living expenses
• Travel costs
Not the full cost of your entire program.
These updated assessment instructions apply to both:
- New study permit applications from outside Canada
- Study permit extensions inside Canada
If you’re planning to study in Canada, make sure your proof of funds is genuine, consistent, and well documented.
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