Canada to Double Financial Requirements for International Students

Arafat Rahman

the new rules require students to show a minimum of 20,635 Canadian dollars in their accounts.

Bad news for students interested in higher education in Canada! The cost of studying in the country has doubled. Now foreign students have to show twice the money in the bank than before. Canada’s Minister of Immigration, Refugees and Citizenship Mark Miller made the announcement on Thursday (December 7).

In a statement, he said, until now, in order to study in Canada, every student had to show a minimum of 10,000 Canadian dollars in the bank account for the assurance of living (cost of living). But the new rules require students to show a minimum of 20,635 Canadian dollars in their accounts.

This rule is effective from January 1, 2024. Miller said that this decision has been taken so that the student does not have to face any financial problems while studying in Canada.

He warned of a significant number of visa restrictions if Canadian educational institutions fail to take appropriate action before the upcoming fall semester.

But as per the new decision, job opportunities for foreign students have been increased. International students in Canada are generally allowed to work off-campus for up to 20 hours a week. But until April 30, 2024, there will be no such restrictions on work, said Mark Miller.

At the press conference, the Canadian minister expressed concern about some educational institutions and emphasized the need to combat fraud and abuse within the system.

He said provinces have diploma equivalents of ‘puppy mills’ (puppy farms), which operate in name only. They cannot produce genuine students.

Miller urged institutions to emphasize the need to admit foreign students with assurances that they can provide off-campus accommodation and take responsibility.

Related Articles

Back to top button