Canada doubles funds needed to be eligible for student visa; refuses to extend work permit relief

Moving to Canada to pursue education has become more expensive. The Immigration, Refugees and Citizenship Canada (IRCC) has announced an increase in the cost-of-living financial requirement for study permit applicants, effective January 1, 2024.

Since the early 2000s, the cost-of-living requirement has remained stagnant at $10,000 for a single applicant, leading to challenges for students as living costs have risen over time. Starting in 2024, a single applicant must demonstrate financial preparedness by showing $20,635, representing 75% of the low-income cut-off (LICO), in addition to covering their first year of tuition and travel costs. This change applies to new study permit applications received on or after January 1, 2024.

Immigration Minister Mark Miller emphasized the need for financial adjustments, stating, "This ensures that international students arrive well-prepared, avoiding the vulnerability and exploitation that some have faced in the past."


Miller also provided updates on three temporary policies affecting international students. The waiver on the 20-hour-per-week limit for off-campus work has been extended until April 30, 2024, allowing students to work more than 20 hours per week while class is in session.

The measure allowing students to count time spent studying online towards the length of a future post-graduation work permit, applicable to those starting a study program before September 1, 2024, has also been extended.

However, the temporary policy providing an additional 18-month work permit for post-graduation work permit holders expiring up to December 31, 2023, has not been extended.

Acknowledging the potential impact on applicants, the government plans to collaborate with partners on targeted pilots in 2024, testing new ideas to support underrepresented cohorts of international students pursuing studies in Canada.

The announcement follows recent reforms to the International Student Program, focusing on recognizing learning institutions that provide top-quality services and support, including housing. Learning institutions are now expected to accept only the number of students they can adequately support.

Ahead of the September 2024 semester, the government is committed to implementing necessary measures, including potentially limiting visas, to ensure designated learning institutions provide sufficient student support.

Quebec independently sets its cost-of-living benchmark for international students attending its educational institutions and consistently revises this benchmark.

These updated financial criteria extend to the Student Direct Stream, a unique study permit application process designed for residents of 14 countries. This stream demands additional upfront information from applicants and ensures priority processing.