In the face of a rising cost-of-living challenge in the nation, Canada is increasing by more than double the funds required for international students to sustain themselves.
Facing a cost-of-living challenge, Canada is significantly increasing the required funds for international students to sustain themselves in the country.
According to a recent announcement from Immigration, Refugees, and Citizenship Canada (IRCC), starting from January 1 next year, new study permit applicants will be required to demonstrate financial capacity by showing CA$20,635 (approximately ₹12.7 lakh). This is an increase from the previous requirement of CA$10,000 (about ₹6.14 lakh) for single applicants.
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In the announcement, it was explained that the increase is necessary because the cost-of-living requirement for study permit applicants has remained unchanged since the early 2000s, set at $10,000 for a single applicant. This outdated threshold does not align with the current cost of living, leading to situations where students arrive in Canada with insufficient funds. Minister of Immigration, Refugees, and Citizenship Marc Miller emphasized the importance of revising the cost-of-living threshold to accurately reflect the true expenses of living in Canada, aiming to enhance the success of international students in the country.
The decision comes amid a crisis in housing affordability and reports of international students resorting to food banks. The IRCC (Immigration, Refugees and Citizenship Canada) will also take actions against educational institutions that fail to arrange adequate housing for incoming international students, potentially including limiting visas. The IRCC release emphasized that learning institutions should only accept a number of students for whom they can provide sufficient support, including housing options.
In its commitment to welcoming international students, the Canadian Government stated it has a responsibility to ensure that students receive proper support when coming to the country. Therefore, ahead of the September 2024 semester, the IRCC is willing to take necessary measures, such as visa limitations, to ensure that designated learning institutions offer adequate and comprehensive student support as part of the academic experience.
During a media interaction in Ottawa on Thursday, Miller expressed concerns about diploma mills that do not provide international students with a legitimate student experience, describing it as “fraud and abuse” that needs to be addressed.
Naresh Chavda, an immigration expert based in Vaughan, Ontario, mentioned that the doubling of the reserve fund for students could negatively impact applications. He estimated that the overall cost for a student applying for a visa would now increase to almost ₹35 to ₹50 lakh before entering Canada. This includes the requirement, at the time of applying, to provide proof of funds for one year of study at an institution, as well as airfare to Canada. The cost-of-living fund is deposited through wire transfer into a designated Canadian bank, known as a guaranteed investment certificate or GIC account.
Chavda, who is the president of Globayan Immigration Corporation, stated that this change will likely have an effect on the volume of applications from India starting next year.
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