Canada announced an increase in the financial requirement for international students applying for study permits, and further warned the provinces and educational institutions that it will “significantly limit visas” in case appropriate actions are not taken before the upcoming fall term.
Ottawa will require foreigners applying to study in Canada to have double the amount of funds currently required, Immigration Minister Marc Miller said.
He also threatened to cap visas in provinces that don’t help house students or who won’t shut down educational institutions that he argues shouldn’t be operating.
“There are, in provinces, the diploma equivalent of puppy mills that are just churning out diplomas, and this is not a legitimate student experience,” Miller said at a news conference.
The Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship, announced that starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada.
Moving forward, this threshold will be adjusted each year when Statistics Canada updates the low-income cut-off (LICO). LICO represents the minimum income necessary to ensure that an individual does not have to spend a greater than average portion of income on necessities.
The country’s immigration minister also warned that visa limits may be imposed if institutions do not provide adequate support to students, as the government attempts to tackle “exploitation” in the international student program.
Minister Marc Miller confirmed that anyone planning to study in Canada will need to show they have $20,635 in funds, in addition to their first year of tuition and travel costs, in order to be approved for a study permit.
Miller said the move was to stop students from realising they don’t have enough money to support themselves once they arrive in the country.
The change will apply to new study permit applications received on or after January 1 2024.
“We are revising the cost-of-living threshold so that international students understand the true cost of living here,” he said. “This measure is key to their success in Canada.”
According to IRCC, the cost-of-living requirement for study permit applicants has not changed since the early 2000s, when it was set at $10,000.
The government has also extended the uncapped work rights policy, which allows international students in Canada to work more than 20 hours per week, until April 30 2024, when the current academic year ends.
IRCC is looking at permanently increasing the work allowance to 30 hours per week, but Miller ruled out allowing students to work full-time permanently, despite calls from student groups.
