The Canadian government has announced new immigration laws, increasing proof of funds from $10,000 to $20,000.
The Canadian government has announced that the proof of funds for all study permit applicants will increase from $10,000 to $20,635 starting from January 1st, 2024.
This was made known by Marc Miller, the Canadian Minister of Immigration, Refugees and Citizenship in a recent statement on Thursday.
The statement read:
"Starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada.
For 2024, a single applicant will need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs. This change will apply to new study permit applications received on or after January 1, 2024.
This review, which takes effect from January 1, will help prevent student vulnerability and exploitation."
The Canadian government has announced that the proof of funds for all study permit applicants will increase from $10,000 to $20,635 starting from January 1st, 2024.
This was made known by Marc Miller, the Canadian Minister of Immigration, Refugees and Citizenship in a recent statement on Thursday.
The statement read:
"Starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada.
For 2024, a single applicant will need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs. This change will apply to new study permit applications received on or after January 1, 2024.
This review, which takes effect from January 1, will help prevent student vulnerability and exploitation."