New Cost of Living Increase For Canada Study Permit 2024

Canada is a top destination for international students, thanks to our high-quality educational institutions; our welcoming, diverse society; and the opportunities for some to work or immigrate permanently after graduation. While international students have contributed to life on campuses and innovation across the country, they have also experienced some serious challenges, such as finding adequate housing, as they pursue their studies in Canada.

The Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship, announced today that 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. Moving forward, this threshold will be adjusted each year when Statistics Canada updates the low-income cut-off (LICO). LICO represents the minimum income necessary to ensure that an individual does not have to spend a greater than average portion of income on necessities.

Starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised to ensure that international students are better prepared for life in Canada. This threshold will be adjusted each year, similarly to other immigration programs.

For 2024, a single applicant will need to show they have $20,635 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.

In addition, Minister Miller has provided an update on three temporary policies that were set to expire at the end of 2023, including the following:

· International students already in Canada, as well as applicants who have already submitted an application for a study permit as of December 7, 2023, will be able to work off-campus for more than 20 hours per week until April 30, 2024.

· The measure that has allowed international students to count time spent studying online towards the length of a future post-graduation work permit, as long as it constitutes less than 50% of the program of study, will continue to be in place for students who begin a study program before September 1, 2024.

· A temporary policy was introduced on three occasions to provide an additional 18-month work permit to post-graduation work permit holders as their initial work permit was expiring. Foreign nationals with a post-graduation work permit expiring up to December 31, 2023, remain eligible to apply. However, this temporary policy will not be extended further.