Minister of Immigration, Refugees and Citizenship Marc Miller has recently announced crucial changes for international students aspiring to study in Canada. Canada has redefined the financial expectations for study permit applications in the latest news, creating waves among international students.
Starting January 1, 2024, there will be an increase in the financial requirement for study permit applicants, ensuring that students are better equipped financially to embrace life in Canada.
The financial requirement for study permit applicants, which has remained at 10,000 for almost twenty years, will rise to CAD 20,635. This shift aims to ensure international students are better financially equipped for their academic journeys.
Minister Miller also announced the extension of working hour limits for international students. Presently, international students without an employment visa can work more than 20 hours per week off campus. The current waiver on working hour limits for international students is initially set to end on December 31, 2023. However, Minister Miller announced that it will continue until April 30, 2024, specifically for students already studying in Canada.
Now, let's take a closer look at these two crucial changes and how they impact aspiring students in Canada.
Canada has revised its expectations for proof of financial support required on a student's study permit application.
For international students planning to study in Canada, they must show adequate proof of financial support. Your funds must cover both your studies and living expenses. Therefore, during your application process, immigration officials will carefully review your proof of financial support. It's essential to ensure you have the necessary means to support yourself while studying in Canada.
This amount was set at CAD 10,000 for many years, in addition to travel costs and a year's tuition fees for a single applicant. However, as the cost of living increased, this amount became too low for students to manage their expenses effectively. According to the latest announcement, a single applicant must provide proof of access to CAD 20,635 along with funds for travel expenses and the first year's tuition fees from 2024 onwards.
IRCC will revise this financial prerequisite every year, effective from January 1, 2024, aligning it with the most recent low-income cut-off (LICO) statistics reported by Statistics Canada.
The changes also affect international students using Canada's Student Direct Stream, requiring a Guaranteed Investment Certificate (GIC) of at least CAD 20,635 as part of their proof of funds.
In late 2022, IRCC introduced a temporary measure allowing international students with off-campus work authorization to exceed the standard 20-hour-per-week limit during their studies. The authorities extended this waiver, initially set to end on December 31, 2023, until April 30, 2024, benefiting current international students in Canada and applicants who submitted their study permit applications by December 7, 2023.
The exemption on work hours benefits international students in several ways. It grants them increased flexibility in setting their work hours, enables them to graduate with richer work experience, and allows them to earn additional income to sustain their studies. Even though the extension is only valid until the end of April, it's notable that Minister Miller didn't dismiss the possibility of permanently raising the weekly working hours limit to 30 hours.
Apart from this, Minister Miller also gave an update on temporary policies impacting international students:
Those commencing their studies before September 1, 2024, can include online study time towards their future post-graduation work permit, which must be less than half of the total program duration.
Due to the pandemic, the Canadian government temporarily altered its Post-Graduation Work Permit (PGWP) Program. One of these changes permitted international students to pursue remote online studies, counting toward a future PGWP (up to a maximum of 50% of the study program). Today, IRCC announced the continuation of this measure for students beginning a Canadian study program before September 1, 2024, marking the final cut-off date for students to benefit from this rule. After that date, students starting a study program won't have this measure available.
During the pandemic and post-pandemic recovery, authorities introduced a temporary policy on three occasions, providing an additional 18-month work permit to PGWP holders as their initial permits approached expiration. As per the new financial guidelines, students holding a PGWP expiring by December 31, 2023, can apply for an extension until April 30, 2024. However, this temporary policy won't undergo any further extension.
According to some observers, the new financial requirement represents a move towards openness and transparency with potential international students regarding living and studying expenses in Canada. While this may reduce the number of applicants, it could benefit by ensuring that those who do apply are adequately prepared for the economic realities, reducing their vulnerability to exploitation.
In conclusion, these measures reflect IRCC's persistent endeavor to position Canada as a premier global student education hub. Simultaneously, they emphasize the importance of learning institutions in setting a higher benchmark for supporting international students. As Minister Miller points out, these steps will empower students arriving in Canada, providing them with a more secure financial foundation as they embark on their academic endeavors.
Applying for study permits may seem simple, but the process can be tricky. Immigration officers hold discretion in assessing applications against requirements. Even if students fulfill all admission criteria and submit the required documents, their applications could face rejection if officials doubt their intention to leave Canada upon permit expiry. Consequently, many opt to engage an immigration lawyer's services to advocate on their behalf and offer guidance to enhance their approval prospects. With extensive experience, ImmiLaw Global Immigration Lawyers specialize in aiding international students intending to commence or pursue their studies in Canada. With eminent immigration lawyers and overseas study experts, ImmiLaw Global is dedicated to offering comprehensive support and guidance throughout the immigration and overseas study process.
Feel free to contact us for your queries.
Read To Know: Study and Migrate to Ontario through the RNIP
CANADA 
+1 (647) 767-0672
INDIA