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Introduction:
The students who sought their dreams in Canada have come to a difficult turn. Immigration, Citizenship, and Refugees Canada (IRCC) has revised requirements and policies for international students starting January 1, 2024. This news is going to change the dynamic of every international student’s financial stability, which enables them to thrive in a country like Canada.
 
Change:
As of January 1, 2023, Canada has raised the cost of living requirement for study permit applicants by double. Previously, it was 10,000 CAD, and now it has increased to 20,635 CAD.

Extensions are applied to the following changing rules that were to expire in 2023 as well:

  • The students can work off-campus for more than 20 hours until April 20th, 2024.
  • The time spent studying outside Canada will not affect their Post-Graduate Work Permit (PGWP) duration until September 20, 2024.

 

Reasons:

Albeit a little controversial, the government has a good reason as to why they had to bring about these changes:

  • The cost of living in Canada has been steadily increasing over the years, but the cost of living requirement has been the same for the last two decades. With time, the
    charges have gone up, and now, when students reach Canada to study, they often find themselves short on funds.
  • Also, factors like inflation and the need to ensure students can adjust to the financial realities of Canada likely contributed to the decision.
  • Additionally, there has to be a mandatory verification of letters of acceptance to combat fraud and the requirement for Designated Learning Institutions (DLIs) to
    provide financial guidance to students.
  • This change will attract students who are better prepared financially and academically.
  • It will help combat immigration fraud and ensure genuine students.
  • It will encourage students to pursue studies relevant to Canada’s labour market needs.
  • It will promote responsible financial planning and prevent exploitation.

 

Pros:

  • The government is making efforts to mitigate the financial burden, such as increasing scholarships and financial aid programs.
  • It will result in potential benefits for international students, such as improved access to quality education and enhanced post-graduation employment opportunities.
 
Cons:
  • There will be an increased financial burden on students and their parents, and it will have a potential impact on student recruitment.

 

Conclusion:
Individuals who are now planning to study abroad, with new alterations in the visa policies, should stay informed, compare options, and consider all factors before making decisions. Talk to a trusted immigration firm so that they won’t get blindsided.

Being prepared in advance according to the new changes will help you transition smoothly into your dream country.


References:

  • Immigration, Refugees, and Citizenship Canada
    (IRCC): https://www.canada.ca/en/services/immigration-citizenship.html
  • Canadian Bureau for International Education (CBIE): https://cbie.ca/
  • Canadian Alliance of Student Associations (CASA): https://www.casa-acae.com/

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