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Canada has announced significant changes to better support individuals seeking education in the country.
Immigration, Refugees, and Citizenship Canada (IRCC), on Dec. 7, 2023, announced that starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised to ensure international students are financially prepared for life in Canada.
This revised requirement, the first in decades, will be adjusted every year when Statistics Canada updates the Low-income cut-off (LICO), which represents the minimum income necessary to ensure that an individual does not have to spend a greater than average portion of income on necessities.
Starting 2024, international students will be required to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs. This will apply to applications accepted on or after January 1, 2024.
The move is aimed at preventing student vulnerability and exploitation, while acknowledging the impact of the change on varying applicants.
In addition, the Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship, provided update for three temporary policies affecting international students, that were all set to expire by the end of 2023.
Notably, the 20-hour-per-week waiver on work hours for international students has been extended to the April 30, 2024. Consequently, international students can now work for more than 20-hours-per-week off-campus until that time.
Furthermore, the facilitative measure that has allowed online study time to count towards post-graduation work permits continues for students starting programs before September 1, 2024. However, applicants must note that the measure does not extend to programs beginning on or after said date.
Lastly, foreigners with post-graduation work permit expiring up to December 31, 2023, remain eligible to apply. However, the policy will not be extended further.
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