As of January 1, 2024, international students applying for a Canadian study permit must pay a cost-of-living financial requirement of $20,000 per year instead of the current requirement of $10,000 annually.
The Canadian Minister of Immigration, Refugees and Citizenship, Marc Miller, issued this statement yesterday.
Starting 01 Jan 2024, we will adjust the cost-of-living allowance paid to study permit aspirants seeking entry into our country, aiming to position prospective international students in Canada.
The statement highlights that a single applicant will be required to prove they have $20,635. This represents 75% of LICO, plus fees for travel and one year of studies. Starting January 1st.
The amount of $10,000 has been the study permit fee for foreign students since the beginning of the twentieth century.
The statement further added that this audit will take effect from January 1 and is meant to ensure that students are not vulnerable or being taken advantage of.
This is few days after the Uk unveiled another law that will make getting visas hard from Nigeria and others.
The House of Commons heard about these changes from James Cleverly, Home Secretary, on Monday.
The government then stated that it would introduce a new minimum annual salary of £49,500 as part of a skilled work visa, starting from 1st October 2022. It is however more than the median salary of an average working time in the UK.
