12 Jan
Updates to financial requirements for study permit applicants
On December 7, 2023, the Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship, announced that starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised to help ensure that international students are better prepared for life in Canada.
Updates to financial requirements for study permit applicants
- Outside Quebec: For 2024, a single applicant will need to show they have CAN$20,635 (in addition to their first year of tuition and travel costs), an increase from the current requirement of CAN$10,000. This change will apply to new study permit applications received by IRCC on or after January 1, 2024. Going forward, this threshold will be adjusted each year, similar to other immigration programs, as Statistics Canada updates the low-income cut-off.
- In Quebec: To study in Quebec, applicants must demonstrate their financial capacity to cover the costs outlined by the Ministère de l’Immigration, de la Francisation et de l’Intégration.
For more information follow the link below: