Canada Hike Fund requirement for foreign students: Indians should show Rs 14 lakh for living expenses
Canada has enhanced the requirement of funds for $ 2000 (Canadian) for foreign students that will apply to all foreign students starting from September 1, 2025. Immigration, refugee and citizenship Canada announced the updated requirement of financial assistance requirement. Indian students will require at least T $ 22,895 () 14 lakhs) for living expenses, can be $ 20,635 from the present. The new requirement applies to international students studying in all provinces and fields outside Quebec. International students will have to provide evidence that they have funds in Canada as a living expenses to support themselves and any family members.
Money required for those applying for a study permit on or after 1 September, 2025 based on family size
1 person: $ 22,895 can2 people: $ 28,502 can3 people: $ 35,040 can4 people: $ 42,543 can5 people: $ 48,252 can6 people: $ 54,4207 people: $ 60,589 canEach additional family member: $ 6,170 canThis requirement is applied only to study the permit applications presented on or after September 1, 2025. Current amount – $ 20,635 – Can be effective for all applications presented before that date.
Which documents are accepted as proof of funds
IRCC has specified documents that can be used as proof of funds.
- Proof of a Canadian bank account in his name, if he has transferred money to Canada.
- A guaranteed investment certificate (GIC) from a participating Canadian financial institution.
- Evidence of student or education loan from a bank.
- Bank statement for the last 4 months.
- A bank draft that can be converted to Canadian dollars.
- A letter from the person or school that is giving them money.
- Evidence of money paid from within Canada, if they have a scholarship or in a Canadian-funded educational program.
