The Canadian government has just doubled the amount of money international students need to prove they have in order to get a study permit or immigration visa to Canada.
Currently, an applicant to Canada needs to show at least $10,000 in their bank account to prove that they can keep up with the cost of living in Canada. In 2024, this amount will be raised to $20,635.
This amount would be on top of the tuition that international students pay. International students planning to study and immigrate to Canada who are already burdened by higher expenses and sky-high exchange rates in their home countries, now have a longer river to cross.
Canada’s Immigration Minister Marc Miller is upset about this drastic development. He said: “Ahead of September 2024, we are prepared to take necessary measures, including significantly limiting visas, to ensure that designated learning institutions provide adequate and sufficient student supports.
“It is imperative that we work together with provincial and territorial governments, learning institutions and other education stakeholders so we can ensure international students are set up for success in Canada.”
He added, “Enough is enough. If provinces and territories cannot do this, we will do it for them and they will not like the bluntness of the instruments that we use.”
Miller’s comments show a marked shift in tone on the matter, even as he noted, “It would be a mistake to blame international students for the housing crisis. But it also be a mistake to invite them to come to Canada with no support, including how to put a roof over their heads. That’s why we expect learning institutions to only accept numbers of students that they’re able to provide for, able to house or assist in finding off campus housing.”
Countries with the highest number of international students in Canada
India, China, The Philippines, France and Nigeria are the countries with the highest student population in Canada.
Nigeria saw a 60% jump in the number of international students coming to Canada between 2021 and 2022. This is expected to drop in 2023/2024 because of the drastic fall in the dollar to Nigerian Naira exchange rate.
International students already in Canada, as well as applicants who have already applied for a study permit as of Dec. 7, 2023, will be able to work off campus more than 20 hours per week until April 2024.
When applying for a study permit, a prospective international student must show “proof of financial support.” This means they must be able to show they can support themselves in Canada.
If an applicant intends to bring a family member with them, they must also show an additional $4,000, or $333 per month. For every additional family member, they must show $3,000, or $255 per month.
Reference
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