Canada Increases Proof Of Funds For Nigerians, Other Foreign Students

For study permit applications submitted from September 1, 2026, students planning to study in any Canadian province or territory except Quebec must show C$23,448 for one person for one year, excluding tuition and transportation. The amount rises with the number of accompanying family members: one person C$23,448; two people C$29,192; three C$35,888; four C$43,572; five C$49,419; six C$55,736; seven C$62,054; each additional family member C$6,318.

For example, a student travelling with two family members will need to demonstrate C$35,888 to cover living expenses for one year, plus tuition and transportation. What applicants need to prove: applicants must provide documents showing the required funds are available and demonstrate enough financial resources for the first year of study; students in programmes longer than one year must also explain how they intend to finance the full duration (e.g., evidence of a longer scholarship or proof a parent is employed).

Acceptable proof of funds includes tuition and housing payment receipts, student or education loans, scholarships, employment pay slips, letters from financial sponsors, Canadian bank accounts, guaranteed investment certificates and bank statements covering the previous six months. Applicants whose countries have foreign exchange controls must also demonstrate they are permitted to transfer funds out to cover expenses in Canada.