Emphasizing Student Impact and Government Caution

With the dawn of 2024, the Canadian government charts a new trajectory in international education policy with the introduction of the Canada International Students Rule 2024. This transformative policy shift, applicable to study permit applications received on or after January 1, 2024, brings about a substantial recalibration in the financial requirements for international students. Under the revised regulations, individual students must now demonstrate access to a minimum of CAN$20,635 in available funds, exceeding the previous CDN$10,000 requirement.


In response to a common issue where students, having met the $10,000 threshold, arrive in Canada unprepared for the actual cost of living, the heightened financial criteria aim to address vulnerabilities such as housing insecurity and exploitative employment. The new financial threshold, set at CDN$20,635, equating to 75% of Canada's low-income cut-off (LICO), underscores the commitment to ensuring students can cover essential living expenses.


This marks the first adjustment in required savings for study permits in a decade, with the government signaling an intention to make more frequent adaptations based on updates from Statistics Canada's LICO. Minister of Immigration, Refugees and Citizenship, Marc Miller, warns institutions and provinces to enhance student support, emphasizing the need for collaboration to ensure international students are well-supported and protected.

Follow the link to know the complete details on Canada Study Visa 2024









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