In response to the country’s cost-of-living crisis, Canada is more than doubling the amount of funds international students must bring in.
For applications received after January 1, next year, Immigration, Refugees and Citizenship Canada (IRCC) says a single applicant will be required to demonstrate that they possess CA$20,635 (about $12.07 lakh), as opposed to CA$10,000 (roughly $6.14 lakh) in previous years.
“The cost-of-living requirement for study permit applicants has not changed since the early 2000s, when it was set at $10,000 for a single applicant. As such, the financial requirement hasn’t kept up with the cost of living over time, resulting in students arriving in Canada only to learn that their funds aren’t adequate.” the official statement said.
“We are revising the cost-of-living threshold so that international students understand the true cost of living here. This measure is key to their success in Canada,” Minister of Immigration, Refugees and Citizenship Marc Miller said.
Due to a housing crisis and reports of international students relying on food banks, IRCC plans to penalize institutions lacking adequate housing. Visa caps may be imposed, with a focus on institutions accepting only as many students as they can support. The Canadian Government acknowledges its responsibility to provide proper support for incoming international students.
Therefore, ahead of the September 2024 semester, IRCC is “prepared to take necessary measures, including limiting visas, to ensure that designated learning institutions provide adequate and sufficient student supports as part of the academic experience.”
According to Miller, diploma mills do not provide international students with a legitimate student experience. He described that as “fraud and abuse” that must “end.”