How much money should students immigrating with families have?
Financial requirements for family members have been published.
Studying in Canada is a great start to your immigration journey. With a Canadian education and experience of living in the country, it is much easier to find a job and then get the coveted permanent residence. To be approved for a study permit, you need to comply with a number of requirements, and one of them is financial. But what if a student or student wants to move not alone, but with a family?
On Dec. 7, Immigration Minister Marс Miller announced an updated financial policy. The monetary requirements have been raised a lot to match the current standard of living in Canada. So, as of January 1, 2024, everyone coming to study needs to have at least $20,635 CAD in an account. This money is not taken away, it just needs to be confirmed to ensure that you are able to live in the country.
With each additional family member (spouses/partners/children), this amount increases:
| Number of family members (INCLUDING the primary student applicant) | The amount you need to have for the year (not including tuition) |
| 1 | CA$ 20 635 |
| 2 | CA$ 25 690 |
| 3 | CA$ 31 583 |
| 4 | CA$ 38 346 |
| 5 | CA$ 43 492 |
| 6 | CA$ 49 051 |
| 7 | CA$ 54 611 |
If more than 6 family members come with one student (i.e. more than 7 people together), CA$ 5,559 more will be added for each additional person.
These rates are current for all provinces and territories except Quebec. Quebec has not yet updated its data for next year, you can follow it on the provincial website.
