"Starting from January 1, Canada plans to double the cost-of-living financial requirement for international students, as announced by the Immigration Minister. This adjustment reflects the country's evolving policies concerning financial support for individuals studying abroad."

"Starting from January 1, Canada plans to double the cost-of-living financial requirement for international students, as announced by the Immigration Minister. This adjustment reflects the country's evolving policies concerning financial support for individuals studying abroad."

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"Effective January 1, Canada, under the direction of Immigration Minister Marc Miller, will more than double the cost-of-living financial requirement for incoming international students. This decision, affecting students worldwide, including those from India, is set to have a significant impact on the financial considerations for foreign students planning to study in Canada."

"Commencing next year, prospective students planning to study in Canada will be required to demonstrate access to 20,635 dollars, marking a substantial increase from the two-decades-long standard of 10,000 dollars. This financial requirement, coupled with travel and tuition expenses, represents a significant change. The amount will be subject to annual adjustments based on the Statistics Canada benchmark for living costs."

"In 2022, India took the lead among the top ten origin countries for study permit holders in Canada, boasting a total of 319,000 students.

Immigration Minister Mr. Miller pointed out that the existing financial requirement has failed to align with the rising cost of living, leading to instances where students arriving in Canada discover their funds fall short of meeting the necessary expenses."

"Erudera, a global education search platform, reports that the total number of international students across all education levels in Canada stands at 807,750, including higher education, with 551,405 individuals having received a study permit last year.

Addressing the need for a more accurate cost-of-living estimate, Immigration Minister Mr. Miller stated that future increases will be linked to Statistics Canada's low-income cut-off, ensuring that international students have sufficient financial resources for their stay in Canada. Starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised.

The government's statement emphasized the annual adjustment of this threshold based on Statistics Canada's updates to the low-income cut-offs, reflecting the minimum income necessary to cover basic necessities.

In addition, Minister Miller expressed a willingness to cap visas in provinces that do not support student housing or fail to close down educational institutions that he deems unfit for operation."