Quebec to Triple Study Permit Funds Requirement by 2026
Quebec to Triple Proof of Funds Requirement for International Students by 2026
Starting January 1, 2026, Quebec is set to significantly raise the proof of funds requirements for international students seeking study permits. This change impacts both new applicants and those renewing their permits, requiring them to demonstrate a higher financial capacity to cover their living expenses while studying in the province.
Key Changes in Financial Requirements:
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Increased Funds for Students:
- For students under 18, the financial requirement will rise from $7,756 to $24,617.
- For students 18 and over, the requirement jumps from $15,508 to $24,617.
- These amounts do not include tuition and transportation costs.
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Impact on Families:
- The financial requirements also increase with the number of family members accompanying the student. For example, a family of four will need to demonstrate $49,234, significantly higher than the current $27,499.
- Comparison with Other Provinces:
- Quebec’s new requirements will surpass those of other Canadian provinces, which follow the guidelines set by Immigration, Refugees and Citizenship Canada (IRCC).
Understanding the Application Process:
International students must navigate both provincial and federal processes to study in Quebec. Initially, they must apply for a Quebec Acceptance Certificate (CAQ), providing proof of their ability to cover tuition, travel, and living expenses. This requirement remains when renewing the CAQ. Subsequently, students apply for a federal study permit, where similar financial proof is necessary.
Demonstrating Financial Capacity:
The Quebec government accepts various documents to demonstrate financial readiness, including:
- Recent bank transfers to Quebec accounts
- Authorizations from currency exchange authorities
- Official scholarship or bursary confirmations
- Recent pay slips or bank letters indicating account balances
- Income tax notices and bank statements
Implications and Insights:
Quebec’s decision to increase the proof of funds requirement reflects a broader trend of tightening immigration policies, aimed at ensuring international students have adequate resources to support themselves. While this move may pose challenges for prospective students, it underscores the province’s commitment to maintaining a sustainable influx of international students who can thrive academically and financially. As the changes come into effect, students and educational consultants must stay informed and prepare accordingly to meet the new financial criteria.
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