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Canada New Rules For International Students 2024: Everything You Need To Know

Discover the latest 2024 updates on Canada’s study permit requirements for international students, including new financial thresholds and immigration policies.

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Canada New Rules For International Students 2024: Everything You Need To Know

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The “cost-of-living financial requirement for study permit applicants” for international students in Canada will be increased from $10,000 to $20,000 beginning January 1, 2024.

The Canadian Minister of Immigration, Refugees, and Citizenship, Marc Miller, announced the news in a statement on Thursday.

This comes only days after the United Kingdom implemented new restrictions, making it more difficult for Nigerians and others to secure visas to the country.

The government announced that the minimum annual income for foreign workers seeking a skilled worker visa would be raised to £38,700 from £26,200. The value is higher than the current median average pay of a full-time worker in the United Kingdom.

Here’s Everything You Need to Know About the Canada New Rules for International Students 2024:

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Canada New Rules For International Students 2024: Everything You Need To Know 65

1. Increased Financial Requirements:

Starting January 1, 2024, international students applying for a study permit in Canada will need to prove they have access to at least $20,000 in cash. This is a significant increase from the previous requirement of $10,000, which now shows the rising cost of living in Canada. This change ensures students are financially prepared for their stay in the country.

2. Annual Adjustments Based on LICO:

The financial requirement will now be modified annually in accordance with Statistics Canada’s low-income cut-off (LICO) data. This means that the financial requirements will be changed on a regular basis to reflect economic changes, ensuring that international students are not caught off guard by inflation or other financial changes.

3. Impact on Housing and Student Support:

The Canadian government is also working to improve housing and provide assistance to international students. Learning institutions will be expected to offer suitable housing and will be encouraged to accept only the number of students that they can support.

4. Temporary Policy Extensions:

Several temporary policies benefiting international students have been extended. This includes the waiver of the 20-hour-per-week work limit, allowing international students to work off-campus for more hours until April 30, 2024. Additionally, time spent studying online will continue to count towards eligibility for a post-graduation work permit for students who begin their studies before September 1, 2024.

5. No Further Extensions for Post-Graduation Work Permit Holders:

The temporary policy that provided an additional 18-month work permit to post-graduation work permit holders will not be extended beyond December 31, 2023. This policy was initially introduced to address labor market disruptions during the pandemic.

6. Preparing for Future Challenges:

The Canadian government is prepared to take necessary measures, including limiting visas, to ensure that designated learning institutions provide sufficient student supports. This is part of a broader strategy to ensure international students have a successful academic experience in Canada.

7. Economic Contribution of International Students:

International education is a significant economic driver in Canada, contributing more than $22 billion annually and supporting over 200,000 jobs. The new rules aim to sustain this contribution while ensuring the well-being of international students.

8. Quebec’s Separate Threshold:

It’s worth noting that Quebec has its own cost-of-living requirements for international students attending the province’s educational institutions, which is updated on a regular basis.

Conclusion:

The Canadian government’s adjustments reflect the government’s commitment to ensuring that international students are well-prepared for the educational process in Canada. The government intends to improve the overall experience and success of international students in the country by addressing financial readiness and support processes.

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Source: MandyNews.com

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