Canadian authorities have announced the increase of the “cost-of-living financial requirement for study permit applicants” for international students from $10,000 to $20,000, starting January 1, 2024.
Before this development, study permit applications for international students remained at $10,000.
Announcing the new measure, Marc Miller, Canadian Minister of Immigration, Refugees, and Citizenship, disclosed in a statement on Thursday that “starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada.
“For 2024, a single applicant will need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs. This change will apply to new study permit applications received on or after January 1, 2024,” the statement reads in part.
According to Miller, the one hundred per cent increase will “help prevent student vulnerability and exploitation.”
REPORTERS AT LARGE earlier reported that the government of Canada announced that international students, including Nigerians, will have to verify their admission starting December 1, 2023.
According to a statement published on Canada’s immigration website, Honorable Marc Miller, the Minister of Immigration, Refugees, and Citizenship, said the changes to its International Student Program will safeguard authentic students from fraud.
