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Navigating Changes: Updates to Canadian Study Permit Financial Requirements and More

In the ever-evolving landscape of international education, staying abreast of policy

changes is crucial for prospective students. On December 7, Immigration, Refugees and Citizenship Canada (IRCC) announced significant updates impacting study permit applications and financial requirements. In this blog post, we'll delve into the key highlights that international students need to be aware of.




 

1. Minimum Financial Requirement Increase: Effective January 1, 2024, Canadian study permit applicants will face an adjustment in the minimum financial requirement. Previously set at C$10,000, the new threshold is C$20,635. This figure encompasses living expenses and the first-year tuition fees. The rationale behind this increase is to better reflect the current cost of living in Canada. It's worth noting that this change extends to Student Direct Stream (SDS) study permits, affecting theGuaranteed Investment Certificate (GIC) requirement, which will also double to C$20,635.


Action Tip: To avoid the new financial requirement, encourage students to submit their applications before January 1.


2. Extended Waiver on Off-Campus Work Limits: Good news for international students! The waiver on off-campus work hour limits has been extended until April 30, 2024. This extension allows students to work more than the standard 20 hours per week during their winter semester. IRCC is also considering permanently raising the off-campus work limit to 30 hours per week in the future.


Insight: The extended waiver provides flexibility for students seeking part-time employment opportunities while pursuing their studies in Canada.


3. Post-Graduation Work Permit (PGWP) Program Updates: Students commencing a Canadian study program before September 1, 2024, can continue remote online study for up to 50% of their program duration. This study time will still count towards their future PGWP. Originally introduced as a response to COVID-19 mobility restrictions, this measure is set to conclude in September.


Note: Keeping track of program commencement dates is crucial for students intending to leverage this flexibility.


Conclusion: As the Canadian immigration landscape undergoes changes, it is paramount for international students to stay informed and plan accordingly. From financial adjustments to work permit program updates, these changes have significant implications for those aspiring to study in Canada. By staying updated and taking timely actions, students can navigate these changes successfully and make the most of their Canadian education journey.




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