The cost of moving to Canada to further one’s education has increased. With effect from January 1, 2024, the Immigration, Refugees and Citizenship Canada (IRCC) has announced an increase in the financial threshold for the cost of living for applicants seeking study permits.
The cost-of-living criteria for a single application has been fixed at $10,000 since the early 2000s, which has presented difficulties for students as living expenses have increased over time. Beginning in 2024, one candidate must establish that they are financially prepared by providing $20,635, which is equivalent to 75% of the low-income cut-off (LICO), together with enough money to pay their first year’s tuition and living expenses. New applications for study permits submitted on or after January 1, 2024 are subject to this modification.
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The decision also extends the temporary lift on the 20-hour work limit for international students, now extended until April 30, 2024. Miller outlined the government’s concerns about potential abuse in the system, targeting both questionable employers and institutions that may not be providing a genuine educational experience, according to Canadian public broadcaster CBC.
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The necessity of financial adjustments was underlined by Immigration Minister Mark Miller, who said, “This ensures that international students arrive well-prepared, avoiding the vulnerability and exploitation that some have faced in the past.”
Additionally, Miller gave updates on three temporary rules pertaining to foreign students. Students can now work more than 20 hours per week while classes are in session thanks to an extension of the 20-hour per week cap waiver that was previously in place for off-campus employment through April 30, 2024.
Additionally extended is the policy that permits students to apply the amount of time they spend studying online toward the duration of a potential post-graduation employment permit. This policy is applicable to students who begin their study program before to September 1, 2024.
The temporary rule, which grants post-graduation work permit holders an extra 18 months of work permit, expires on December 31, 2023, and has not been extended.
The government intends to work with partners on focused pilots in 2024, exploring novel concepts to support underrepresented cohorts of international students pursuing degrees in Canada, acknowledging the possible impact on applicants.
The statement comes after the International Student Program underwent recent changes with an emphasis on identifying educational institutions that offer first-rate housing and other services and assistance. Nowadays, educational institutions are supposed to admit no more pupils than they can sustain.
The government is dedicated to putting in place the appropriate measures—which may include restricting visas—before the September 2024 semester to make sure that approved educational institutions offer enough assistance to students.
For overseas students enrolled in its educational institutions, Quebec independently establishes and periodically updates its cost-of-living standard.
These revised financial requirements also apply to the Student Direct Stream, a special application procedure for study permits intended for citizens of fourteen different nations. This stream guarantees priority processing by requiring applicants to provide more information up front.
