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New International Student Rules: Canada Raises Proof-of-Funds Requirement, Expands Support Services

Blog posted on by Evelyn Ackah in Study Permits and Student Visas

New International Student Rules: Canada Raises Proof-of-Funds Requirement, Expands Support Services

Canada has new International Student Program rules to prioritize financial security and support services. Immigration, Refugees and Citizenship Canada (IRCC) Minister Marc Miller announced the reforms to enhance the overall experience for those pursuing education in the country.

The key changes revolve around proof-of-funds requirements and support structures. Starting January 1, 2024, international students will need to demonstrate a higher level of financial stability by showing proof of $20,635 – a significant increase from the current $10,000. This revised amount reflects the rising cost of living in Canada and ensures students have sufficient resources to cover their basic needs.

“International students provide significant cultural, social and economic benefits to their communities, but they have also faced challenges navigating life in Canada. We are revising the cost-of-living threshold so that international students understand the true cost of living here. This measure is key to their success in Canada. We are also exploring options to ensure that students find adequate housing. These long-overdue changes will protect international students from financially vulnerable situations and exploitation.”

– The Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship

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Revised Requirements To Better Protect International Students

Recognizing the potential challenges associated with increased financial demands, the IRCC has also announced expanded support measures. These include:

  • Developing a new framework to recognize learning institutions that provide top-quality services and support, including housing options, for international students. This ensures students choose institutions equipped to meet their needs beyond academics.
  • Holding institutions accountable for accepting only the number of students they can adequately support, guaranteeing access to crucial resources like housing.
  • Extending the temporary waiver on the 20-hour-per-week limit for off-campus work until April 30, 2024. This allows international students already in Canada and those who applied before December 7, 2023, to work more hours and supplement their income.

These reforms demonstrate a commitment to attracting and retaining international students while ensuring their well-being. The increased proof-of-funds requirement promotes financial responsibility, while the enhanced support measures provide a safety net and address potential challenges. By balancing financial security with robust support systems, Canada is creating a more welcoming and sustainable environment for international students to thrive.

This move aligns with Canada's broader immigration strategy, which seeks to attract skilled talent and contribute to the country's economic growth. By prioritizing the well-being of international students, Canada is not only investing in its future workforce but also upholding its reputation as a diverse and welcoming nation.

The revised International Student Program marks an important step towards a more positive and secure experience for international students in Canada. It paves the way for a future where financial challenges are minimized and support services are readily available, ensuring that aspiring students can focus on their education and contribute meaningfully to their chosen Canadian communities.

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Key Facts On Canada International Student Visas

  • International education is a major economic driver in Canada, contributing over $22 billion annually and supporting more than 200,000 jobs.
  • Quebec sets its own cost-of-living threshold for international students, raising it periodically to ensure financial stability.
  • New financial guidelines are being applied to both general and expedited study permit applications, requiring students to demonstrate sufficient funds for their stay in Canada.

Learn More:

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    Do You Have Questions About Your Eligibility To Study In Canada?

    Get in touch with Ackah Business Immigration Law today to arrange a consultation and discover more about how we can assist you in studying and working in Canada. Ackah Business Immigration Law is a full-service immigration law firm for businesses and individuals, with offices in Toronto, Calgary and Vancouver. Contact Ackah Law today at (587) 854-3866 or email us directly at contact@ackahlaw.com.


    Evelyn L. Ackah, BA, LL.B.

    Founder/Managing Lawyer

    Ms. Ackah is passionate about immigration law because it focuses on people and relationships, which are at the core of her personal values. Starting her legal career as a corporate/commercial ...

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