Canada's recent decision to double the financial requirements for international students applying for study visas will particularly impact students from India, who constitute roughly 40 percent of all international students in Canada.
Presently, to secure a study visa for Canada, a student must demonstrate financial stability with $10,000 in their account to cover initial living expenses. However, starting in 2024, this amount will increase substantially to $20,635, in addition to the one-year tuition fees. Moreover, students bringing family members will be required to exhibit an extra $4,000 in their accounts.
Among the current 800,000 international students studying in Canada, a significant 320,000 hail from India, with Punjab contributing to about 70 percent of this demographic.
Immigration Minister Marc Miller, in his announcement, expressed readiness to take crucial steps, possibly limiting visas, by September 2024. The aim is to ensure that educational institutions offer adequate support to students.
Acknowledging the strain the influx of international students has placed on housing, the minister clarified that while international students aren't solely responsible for the housing crisis, institutions should only admit students they can effectively support, including assisting with accommodation, either on or off-campus.
Assurances were made to tackle fraudulent educational establishments that attract international students, labeling them as illegitimate and emphasizing the need to curb fraud and exploitation.
The minister conveyed a clear message of action, stating that if provinces and territories fail to address these concerns, the federal government will intervene with measures that might be assertive and less favorable to them.
Additionally, the minister extended the relaxation allowing international students to work more than 20 hours a week, extending this provision until April 30, 2024.
(With Agency Inputs)
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