Canada has made several major announcements for international students. The Honourable Marc Miller, Minister of Immigration, Refugees, and Citizenship, revealed new changes aimed at improving financial stability and study conditions for foreign learners. These updates are meant to enhance the overall international student experience in Canada.
Updated Financial Requirements for Students
Starting January 1, 2024, the financial requirements for study permit applicants will increase. This update ensures that students are better prepared for the real cost of living in Canada.
The new amount will adjust each year according to Statistics Canada’s Low-Income Cut-Off (LICO). This helps reflect the minimum income needed for basic living expenses. Since the early 2000s, the required funds remained unchanged, even though the cost of living continued to rise.
In 2024, a single student must show $20,635 (75% of LICO), plus the first year’s tuition and travel expenses. This update helps reduce financial stress once students arrive in Canada.
Anyone applying for a study permit on or after January 1, 2024, must meet this requirement.
Why the Financial Increase Was Needed
Earlier, international students were required to show only $10,000 for living expenses. Over time, this amount became unrealistic due to rising housing, food, and transportation costs.
Many students arrived unprepared financially, leading to hardship and exploitation. The new requirement nearly doubles the previous amount to ensure students can live safely and comfortably.
New Acceptance Letter Verification System
As of December 1, 2023, designated learning institutions (DLIs) must directly verify each applicant’s letter of acceptance with IRCC. This system helps prevent fraud and ensures that permits are issued only based on genuine admissions.
Recognized Institution Framework (Fall 2024)
Starting in fall 2024, IRCC will introduce a “recognized institution” framework. This will benefit schools that provide high-quality support and outcomes for international students. These institutions will enjoy faster study permit processing for their applicants.
Updates on Work Permits
Several changes affect students who work during or after their studies:
The temporary policy allowing international students to work more than 20 hours per week off-campus is extended until April 30, 2024.
Students who begin their program before September 1, 2024, may continue counting online study time toward a Post-Graduation Work Permit (PGWP), as long as it is less than 50% of their program.
The temporary 18-month PGWP extension policy will end on December 31, 2023, with no further extensions.
Important Rules for Students Planning to Study in Canada
Students should ensure they have enough funds for living costs under the updated 2024 requirement. Because LICO changes yearly, applicants must stay informed about new financial thresholds.
It is also important to verify the authenticity of the chosen institution. Students must have valid health insurance and understand the PGWP rules if they plan to work in Canada after graduation.
Pilot Programs for Underrepresented Groups
The government will launch targeted pilot programs in 2024 to support underrepresented international student groups. These initiatives aim to make higher education in Canada more accessible and equitable.
Ensuring Schools Provide Enough Support
These changes follow efforts to improve the International Student Program. The focus is on ensuring that institutions accept only the number of students they can properly support, including housing, mental health, and academic services.
This may lead to future visa limitations for institutions that cannot provide adequate resources.
Summary of Temporary Measures
Off-campus work limit of 20 hours per week lifted until April 30, 2024.
Online studies begun before September 1, 2024, can still count toward PGWP eligibility.
The 18-month PGWP extension program ends December 31, 2023.
FAQs: Canada’s Changes for International Students in 2024
1. What changes were announced for 2024?
Stricter financial requirements, acceptance letter verification, recognized institution framework, work permit updates, pilot programs for underrepresented groups, and new temporary measures for off-campus work and online study.
2. What are the new financial requirements?
Students must show $20,635 plus tuition and travel costs for applications submitted on or after January 1, 2024.
3. Why were financial requirements increased?
To ensure students have enough money to live safely in Canada, as the older $10,000 requirement no longer covered real living costs.
4. What is the acceptance letter verification system?
DLIs must verify letters of acceptance directly with IRCC to prevent fraud.
5. What is the “recognized institution” framework?
A system that rewards institutions providing excellent student support with faster permit processing.
6. Are there updates to work permit rules?
Yes. Students can work more than 20 hours per week until April 30, 2024, and online studies may count toward PGWP under certain conditions.
7. What temporary policies are ending?
The 18-month PGWP extension ends December 31, 2023.
8. Is health insurance mandatory for international students?
Yes, all international students must have health insurance.
9. How should students prepare for studying in Canada in 2024?
They should ensure they meet financial requirements, verify their school, obtain health insurance, and learn about PGWP eligibility.
