Canada Raises Cost-of-Living Visa Requirement for International Students from 2024
In addition to this change, the Canadian immigration body announced that current international students already in Canada and applicants who applied for a study permit by December 7, 2023, will be permitted to work off-campus for more than 20 hours per week until April 30, 2024.
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Canada is set to increase the cost-of-living requirement for study permit applicants, starting January 1, 2024, to enhance the living conditions of international students in the country. The adjustment entails that a single applicant must demonstrate having $20,635, in addition to their first-year tuition and travel costs.
This new cost-of-living requirement represents a significant increase, being twice the previous amount of $10,000 that had been in effect for the past 23 years.
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In addition to this change, the Canadian immigration body announced that current international students already in Canada and applicants who applied for a study permit by December 7, 2023, will be permitted to work off-campus for more than 20 hours per week until April 30, 2024.
Furthermore, international students commencing their programs on September 1, 2024, will still be able to include online study time towards their post-graduation work permit application.
A temporary policy has been introduced for foreign nationals with a post-graduation work permit expiring up to December 31, 2023, allowing them to apply for an additional 18-month work permit, not extending beyond 2023.
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The Canadian immigration department stated that the financial requirement has not kept pace with the cost of living in Canada, recognizing that the recent changes aim to prevent student vulnerability and exploitation. They plan to implement targeted pilots next year to assist underrepresented cohorts of international students.
The cost-of-living requirement will be adjusted annually based on Statistics Canada's updates to the low-income cut-off (LICO), ensuring that individuals have sufficient income to cover necessities without spending an unusually high portion of their income.
