Canada Raises Proof of Funds for Nigerians, Other International Students

Canada has increased the amount of money international students, including Nigerians, must show when applying for a study permit.

The new financial requirement will take effect on September 1, 2026, and applies to students planning to study in Canadian provinces and territories outside Quebec.

Under the new rules, applicants must prove that they have enough money to pay for their tuition, living expenses and transportation to and from Canada without depending on employment after arrival.

The amount required for living expenses is reviewed annually to reflect changes in the cost of living.

From September 1, a single student must show at least C$23,448 to cover living expenses for one year. This amount does not include tuition fees or transportation costs.

Students travelling with family members will be required to show higher amounts. The new figures are C$29,192 for two people, C$35,888 for three, C$43,572 for four, C$49,419 for five, C$55,736 for six and C$62,054 for seven people.

For every additional family member beyond seven, applicants must show an extra C$6,318.

For instance, a student travelling to Canada with two family members must demonstrate access to C$35,888 for one year’s living expenses, in addition to sufficient funds for tuition and transportation.

Applicants will be required to submit documents proving that the money is available to them and can be used to cover their expenses during the first year of study.

Students enrolling in programmes that last more than one year must also provide evidence showing how they plan to finance the remaining period of their studies.

This could include a scholarship covering more than one year or evidence that a parent or other sponsor has a stable source of income.

Acceptable proof of funds may include receipts showing payment of tuition and accommodation, education or student loans, scholarship documents and employment pay slips.

Applicants can also provide letters from financial sponsors, evidence of funds in Canadian bank accounts, guaranteed investment certificates and bank statements covering the previous six months.

Students applying from countries with foreign exchange restrictions may also need to prove that they are legally permitted to transfer money out of their country to meet their expenses in Canada.

The Canadian authorities said applicants should ensure they meet the updated financial requirement before submitting their study permit applications.