Why Canada increase financial requirement for international students from $10,000 to $20,0000 - Explained

Cananda goment say beginning from 1 January 2024, di financial requirements wey international students go need to before dem go fit apply for study permit to study for dia kontri don double.

Cananda Immigration Minister, Marc Miller make di announcement on Thursday on di latest decision concerning pipo wey wan apply for study permit and di ones wey already be international students for di kontri.

Di announcement give informate on full-time work permit policy and di Post graduate Work Permit – PGWP Extension 2024.

Dis new policies wey di goment just announce na part of di significant changes to di International Student Programme wey dem bin first announce on 27 October.

Beginning 1 January 2024, di cost of living financial criteria for any pesin wey wan get study permit go now present Guaranteed Investment Certificate of $20, 635 instead of $10,000 wey dem bin dey pay before.

Di goment go dey update di cost of living criteria evri year wen di Statistics of Canada change for wetin dem call low income cut off (LICO).

LICO mean di minimum income wey pesin need to get to make sure say e no spend more dan di average portion of im salary on di tins wey e need.

Since dem first set di cost of living criteria as $10,000 per single applicant for di early 2000s, dat amount no change until now.

Dat na why wen student reach Canada dem go see say di money wey dem hold no dey enough becos di financial need no match di cost of living as time dey pass.

From 2024, single applicant must to show say e get $20,635 or 75% of LICO plus di money for dia first year school fees and travel expenses.

Manage number of international students afta 2024

Anoda mata wey di minister torchlight na di issue of of managing di number of international students wey schools go fit provide for.

Miller say di schools get di responsibility to make sure say dem accept only di number of students wey dem go fit provide necessary services and accommodations for wen dem come di kontri.

E add say goment dey willing to limit di number of visa wey dem go give for for di September 2024 semester to guarantee say recognised schools go provide sufficient support for students.

Extension of full time work policy

Di policy wey exempt international students from di 20 hours work limit go dey extend till 30 April 2024.

Dis policy na im dey allow students to work off campus while classes dey go on, and dey allow students work for more dan 20 hours per week.

Di goment say dem go continue to torchlight dis policy to see weda dem go fit increase employment hours for international students to 30 hours per week while lectures dey go on.

No PGWP Extension 2024

During di pandemic and afta di pandemic recovery, Canada goment bin do one temporary policy wey extend di post graduate work permit pipo wey dia own expire.

Dem bin do dis extension three time to give pipo wey hold post graduate work permit additional 18 month work permit afta di first one wey dem give dem bin expire.

Foreigners wey get post-graduation employment permit wey go expire before 31 December go fit still apply for extension under the PGWP extension 2023 policy.

But oga Miller make am clear say dis go be di end of dis temporary policy. Diafore dem no go do any PGWP extension policy for 2024.