To enhance the readiness of international students for life in Canada, the Canadian government is revising study permit rules.
The financial prerequisite is increasing from $10,000 to over $20,000, effective January 1, 2024.
This adjustment, subject to annual revisions based on inflation, permit issuance, and housing availability, aims to address the rising cost of living in Canada.
Rather than a fee, this financial requirement necessitates proof of access to the specified funds during the study permit application process.
The goal is to mitigate the need for students to engage in excessive work to cover living expenses, considering the challenges posed by inflation and housing affordability in Canada.