Immigration Refugees and Citizenship Canada (IRCC) recently made impactful announcements regarding international students in Canada, many of which will come into effect January 1st, 2024.
Considering these announcements, students hoping to apply for their Canadian study permit may find some advantages in taking a simple step: submitting their study permit application in December 2023. Read on to learn what advantages applying for your study permit this month can yield.
On December 7th, IRCC announced that it would be raising the cost-of-living requirement for international students in Canada, from $10,000 CAD to $20,635 CAD. The change comes in response to the rising cost-of-living in the country. In fact, the previous $10,000 figure was set in the early 2000s and has not been adjusted to reflect inflation since that time. Note that regardless of when students apply, they will have to demonstrate they have funds corresponding to the cost-of-living criteria amount, in addition to proof that their first year of tuition, and travel costs are already paid—in order to be eligible for a study permit.
This change to the cost-of-living requirement, however, is only set to come into effect on January 1st, 2024. Those who apply for a study permit before that deadline, even if they begin their studies later in 2024, will only have to pass a $10,000 cost of living requirement.