Financial rules for international students in Canada get tougher

For 2024, international students will need to show they have $20,635, in addition to their first year of tuition and travel costs. This change will apply to new study permit applications received on or after January 1, 2024.

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08–DEC–2023 |  Starting January 2024, international students eyeing Canada must double their bank balance, hitting $20,635, plus cover tuition and travel costs. The government, led by Minister Marc Miller, warns of potential visa limits if schools don’t adequately support students, aiming to combat misuse in the international student program.

Miller emphasizes the move to ensure students realize the actual cost of living in Canada, a change from the unchanged cost-of-living requirement since the early 2000s, set at $10,000.

Work rights for international students, allowing more than 20 hours per week, extend until April 30, 2024. There’s a consideration to make the increase permanent to 30 hours, but full-time work is ruled out.

These changes mark Canada’s latest crackdown on wrongdoing in international education, including fraud prevention in admission letters.

Canada instructs institutions to admit international students only if housing is available, acknowledging the country’s housing crisis and demanding proper health and academic support.

Expressing dissatisfaction with institutions functioning as diploma factories, Canada threatens visa limitations if issues aren’t resolved by September 2024, underscoring the government’s readiness to intervene decisively.

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