BlogUncharted territory: Canada doubles cost-of-living requirements for student visas
On December 7, 2023, the Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship announced that, starting January 1, 2024, international students will be required to have more funds to be granted a student visa to ensure they can afford the costs of living in Canada. Speaking to reporters, the Minister acknowledged that there may be unintended consequences arising from the increase in financial requirements, which are more than doubling from $10,000 to $20,635 to cover the first year of living expenses in Canada, but he felt it was necessary so that students will not feel forced to work to make ends meet. There is already a debate about whether the Minister’s announcement will lead to a noticeable decrease in the number of international students in Canada and whether those who meet the higher financial requirements will truly benefit from this change. In this blog post we will review some of the experiences we have had at our law firm working closely with international students.