Image source: Toronto Star
Starting from January 1, 2024, there will be an increase in the cost-of-living requirements for getting a Canadian study permit.
That’s the recent announcement made by Immigration, Refugees, and Citizenship Canada (IRCC).
Between the early 2000s and now, the cost-of-living financial requirement has remained at $10,000 for an applicant who is single.
Unfortunately, this amount has gradually become very low as many students struggle to keep up with the rising inflation, housing costs, and overall living costs in Canada.
The new announcement by IRCC reveals that single applicants for the Canadian study permit must prove their financial preparedness with at least $20,635.
This new figure estimates the travel costs plus first-year tuition and also represents 75% of the low-income cut-off (LICO).
But taking a quick backtrack to August 2023, the Canadian government had raised an alarm about the housing shortage in the country.
It was revealed back then that a total of 275,000 active visas were held by foreign students in 2012. But fast forward to 2022, the number had risen to over 800,000.
This sharp increase in the population of foreign students was said to be putting pressure on some Canadian housing markets. Hence, a need to cap foreign student visas.
It was suggested back then that capping foreign student visas would be one of the feasible solutions to curbing the crisis.
While there’s no official update about capping foreign student visas, the new increment of the cost-of-living requirement for a study permit seems heading in the same direction.
When commenting on the latest development, Immigration Minister Marc Miller said it will help international students prepare well and avoid being exploited like others in the past.
Marc Miller (Minister of Immigration, Refugees and Citizenship of Canada)
Other Policies Affecting International Students
Marc Miller also gave new updates as regards other temporary policies that directly affect international students.
First, a waiver on the initial 20-hour-per-week limit for engaging in off-campus work.
The waiver extends until April 30, 2024, and it allows students to work more than 20 hours per week while classes are in session.
There’s also a new extension that applies to the provision enabling students to include online study hours when calculating the duration of a post-graduation work permit.
This policy applies to students commencing their study program before September 1, 2024.
The third policy Marc Miller talked about is set to expire by December 31, 2023, and it affects post-graduation work permit holders.
Each person in this category is temporarily provided with an extra 18-month work permit. However, this grace ends by Dec 31, and there’s no extension in view.
Acknowledging the possible impact of these new policies on international students, the Canadian government has revealed that it’s testing out ideas to help and support underrepresented aspiring students.
Leading up to the semester commencing in September 2024, the government is steadfast in its commitment to implementing essential measures.
This may involve considering visa limitations to ensure that designated learning institutions can adequately meet the needs of their student population.
Meanwhile, it’s worth mentioning that Quebec independently set its benchmark for cost-of-living requirements for international students.
Regardless, all newly updated financial criteria for international students also affect the Student Direct Stream, which is a unique Canadian study permit that accommodates applicants from 14 countries.
