Immigration, Refugees and Citizenship Canada will raise the cost of living criterion for study visa applicants effective January 01, 2024.
Study visa applicants will abide by the new cost of living requirement of $20,635 from the New Year 2024. The existing cost-of-living requirement is $10,000. The new criterion will be in addition to the travel costs and tuition fees for the first year of the study program.
Canada raised the cost of living for study visa applicants by more than double the existing one to match the existing cost of living. It is in response to the latest updates on the Low Income Cut-off (LICO) by Statistics Canada. There was a wide gap between the earlier cost of living requirement and the Low Income Cut Off figures.
The revised cost of living requirement will match the current Low Income Cut Off level. IRCC will revise the cost of living requirement each year to help study visa applicants pursue their studies in Canada without any financial difficulties.
Post-secondary students can now benefit from the waiver of 20 hours off-campus work cap as IRCC extends the relaxation up to April 30, 2024. Canada appreciates the role of international students in the country’s economic and labor market growth. The changes aim to improve the integrity of international study programs.
Boost your educational credentials by studying in Canada’s top-rated universities. Get a free assessment by clicking here.