Planning To Study Abroad? Canada Just Doubled The Cost Of Living Requirement For Students
In what could be a major setback to the study-abroad dreams of millions, including many from India, Canada has announced a substantial increase in the financial criteria for international students applying for study permits.
Canada's Minister of Immigration, Refugees and Citizenship Marc Miller said in a news release that a single applicant will need to show they have 20,635 Canadian dollars ($15,181) in addition to their first year of tuition and travel costs.
Why the requirement has been increased
The cost-of-living requirement for study permit applicants has not changed since the early 2000s, when it was set at 10,000 Canadian dollars ($7,357). As such, the financial requirement hasn't kept up with the cost of living over time, resulting in students arriving in Canada only to learn that their funds aren't adequate, the release said.
Miller said this threshold will be adjusted each year when Statistics Canada updates the low-income cut-off (LICO). LICO represents the minimum income necessary to ensure that an individual does not have to spend a greater than average portion of income on necessities.
When will the new requirement come into effect?
"In welcoming international students, we have a responsibility to make sure that students are supported when they come to our country," Miller said, adding that ahead of the September 2024 semester, measures, including limiting visas, will be taken to ensure that designated learning institutions provide adequate and sufficient student supports as part of the academic experience.
How Canada plans to crack down on misuses of visa
The new measures are aimed at reducing fraud and potential abuse in the system, in which a student visa is often used as a one-way ticket to settle in Canada.
Miller expressed concerns about certain educational institutions operating as "puppy mills" and emphasised the need to address fraud and abuse within the system.
He said, "There are, in provinces, the diploma equivalent of puppy mills that are just churning out diplomas, and this is not a legitimate student experience."
Miller highlighted the need for learning institutions to responsibly manage the number of international students they accept, considering their ability to provide housing or assistance in finding off-campus accommodation.
"We could potentially miss the mark. Provinces have a number of tools at their disposal, namely the regulation of the designated learning institutions, that in some cases just need to be shut down," Miller also said.
Canada is one of the most sought-after international study destinations in the world. According to the 2022 figures, there were over 800,000 international students in Canada.
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