Canada raises living-cost criteria for international students.
Canada, in the midst of the country’s cost-of-living crisis, Canada is more than increasing the amount of money that international students will have to bring in to support themselves.
In the midst of the country’s cost-of-living crisis, Canada is more than increasing the amount of money that international students will have to bring in to support themselves. According to an announcement by Immigration, Refugees, and Citizenship Canada (IRCC), for new study permit applications received on or after January 1 next year, a single applicant will “need to show they have CA$20,635 (approximately 12.7 lakh), as opposed to CA$10,000 (approximately 6.14 lakh) previously.”
“The cost-of-living requirement for study permit applicants has not changed since the early 2000s, when it was set at $10,000 for a single applicant,” the announcement explained. As a result, the financial need has not kept up with the cost of living over time, and students arrive in Canada only to discover that their funds are insufficient.”
“We are revising the cost-of-living threshold to ensure that international students understand the true cost of living in this country.” “This metric is critical to their success in Canada,” stated Marc Miller, Minister of Immigration, Refugees, and Citizenship.
The move comes in the midst of a housing affordability crisis and tales of overseas students seeking assistance from food banks. IRCC will also take action against educational institutions that do not provide enough housing for incoming international students, including the possibility of visa caps. “We expect learning institutions to only accept the number of students that they can provide adequate supports for, including housing options,” the IRCC said in a release.
According to the announcement, the Canadian government has “a responsibility to ensure that students are supported when they come to our country” by embracing international students. As a result, in preparation for the September 2024 semester, IRCC is “prepared to take necessary measures, including limiting visas, to ensure that designated learning institutions provide adequate and sufficient student supports as part of the academic experience.”
Miller stated at a media event in Ottawa on Thursday that diploma mills did not give overseas students with a “legitimate student experience,” and that this was “fraud and abuse” that needed to stop.
According to immigration expert Naresh Chavda of Vaughan, Ontario, the doubling of the reserve fund for students will have a negative influence on applications because the cost of applying for a visa will now increase. “It will be an almost ₹35 to ₹50 lakh project before a person even enters Canada,” he said.
This includes the obligation to present proof of funding for one year of education at an institution as well as flying cost to Canada while applying. The cost-of-living fund is transferred via wire transfer into a guaranteed investment certificate, or GIC, account at a recognised Canadian bank.
“It will definitely have an effect (on the volume of applications from India),” said Chavda, head of Globayan Immigration Corporation, “from next year.”