Updated on January 3, 2024
Explore Critical Details on the Doubling of Cost of Living for Foreign Students in Canada: January 2024 Update. This surprising news has left aspiring scholars contemplating their Canadian visa applications for 2024, especially those striving to meet the required LICO for the permit. Faced with the revelation that Canada’s Foreign Students’ Cost of Living has doubled from January, many applicants are now deliberating whether to withdraw their applications or proceed. Delve into the intricate specifics in this article to make informed decisions.
Cost of Living for International Students in Canada Doubled Starting January 2024
Starting January 1, 2024, international students will witness a change in their cost of living expenses. The essential funds required for comfortable study living are set at a minimum of $10,000.
In 2022, a total of 319,000 students migrated to Canada, and this number can vary based on immigrants from different countries. The government now mandates scholars to demonstrate financial proof of $20,635 during the visa application process, making the acquisition of a study permit more challenging.
Students who enrolled after September 2024 are required to adhere to the financial criteria outlined by Miller. Those who submitted their applications before this announcement can continue to follow the previous study permit criteria.
This policy aims to regulate the issuance of visas to international students. Primarily, it serves to enhance the quality of education provided by academic institutions, and secondly, it contributes to the management of population growth in Canada, where a 0.2% increase has been observed and needs to be addressed.
What Makes Canada a Preferred Choice for International Students?
International students are drawn to Canada for its exceptional education and diverse cultural experience. The country not only provides high-quality education but also allows students to work during their studies.
Furthermore, the availability of post-education work permits is a significant attraction. Upon completing their studies, students receive these permits, along with the opportunity to access pensionable benefits if they decide to continue residing in Canada. Making relevant contributions becomes essential for securing their retirement.
Exploring career opportunities in diverse firms becomes a reality for individuals gaining work experience in Canada. However, authorities are expressing concerns about the current state of affairs in the country, noting instances of fraud during students’ educational pursuits.
Allegations suggest that certain institutions are prioritizing student employment over academic focus, prompting the implementation of stringent rules for Canadian study visas. This points towards a need for heightened scrutiny to ensure the integrity of the education system.
Full News Here
In recent developments, Canada’s population surge is attributed to an influx of immigrants, tipping the balance towards non-residents outnumbering residents. This demographic shift has prompted the Canadian Government to adopt a more stringent approach in processing migration applications.
Anticipations suggest that by January 2024, the nation may witness a shift with a majority of immigrants and a decrease in the number of local citizens. There’s speculation that officials might consider imposing taxes to address the associated financial implications.
Marc Miller, the President of the Immigration Ministry, has addressed concerns by unveiling updated financial requirements. He emphasized that insufficient funds could pose challenges for students, encompassing tuition fees, accommodation, transportation, and the overall cost of living.
Many students opt to pursue higher education in Canada due to the plethora of subject options and the presence of top-notch universities. However, there has been an increase in the low-income cut-offs, scrutinizing applicants’ minimum income.
The minister is adamant about ensuring that colleges focus solely on providing education and refrain from encouraging immigrant students to work or obtain work visas, deeming it fraudulent. Such practices tarnish the country’s reputation, depicting exploitation and making it a target for abuse.
Challenges related to housing are prevalent among international students, prompting Marc to address financial concerns. In a bid to alleviate financial burdens, he has sanctioned 30 hours of off-campus work per week for immigrant scholars. However, strict adherence to norms is emphasized, and any violation of the law will result in penalties.