Wednesday, 19 June 2024
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CanadaEducation

The financial need for international students is doubled by the Government of Canada

  • Canada has announced a significant change in its immigration regulations, affecting those who wish to study in the country.
  • Mark Miller, Minister of Immigration, Refugees and Citizenship, said that starting January 1, 2024, the minimum living financial requirement for students will be increased from the current 10,000 Canadian dollars to 20,635 Canadian dollars.
  • Mark Miller said that it should be ensured that students do not face any kind of financial crisis in the country.

Canada has announced a significant change in its immigration regulations, affecting those who wish to study in the country.

In a statement on Thursday, Immigration, Refugees and Citizenship Minister Mark Miller said that starting January 1, 2024, the minimum living financial requirement for students will be increased from the current 10,000 Canadian dollars to 20,635 Canadian dollars. He said this is being done so that students in the country do not face any financial crisis.

MYSO member’s responses to this new regulation

Mandeep from the Montreal Youth Student Organization (MYSO) said, “Students are already struggling financially due to various expenses such as the rising cost of IELTS exams, college fees, high rental fees, etc. Instead of relaxing the conditions for international students, the Canadian government is intensifying the situation by doubling the minimum security deposit required at Canadian banks for student expenses”.

Mandeep asserted, “Earlier, this minimum amount was 10,000 Canadian dollars, which has now been doubled. Banks issue a Guaranteed Investment Certificate (GIC) after depositing this amount, currently the monthly withdrawal limit from this account is around $670 based on expenses.However, this limit is doubled to take into account inflation and revised minimum sum assured. This additional burden can hinder deserving students from pursuing education in Canada as financial resources play an important role”.

Another MYSO member Khushpal Grewal added, “Instead of reducing college fees, controlling rent or providing affordable public transport, the government increases the burden on international students. Before the Covid era, when Canada faced a labor shortage, immigration rules were relaxed, leading to an increase in student numbers over the past few years. Now, they are tightening the norms according to their convenience.

Varun Khanna, part of MYSO, noted the historical connection and said, “Looking back, even in 1908, the Canadian government changed the rules for Indian immigrants. Initially, they had to bring $25, which was later raised to $200—a substantial amount at that time.”

Manpreet, another member of MYSO commented, “Governments tend to change the rules according to their convenience. However, the upcoming challenge lies with students who want to study in Canada from January 2024 onwards. Punjabi students will make a significant impact as they constitute a significant portion of this population.

 Also, rough statistics obtained from immigration agencies in Punjab show that in 2022, around 2.26 lakh Indians have obtained Canadian visas under the International Refugee and Citizenship Canada (IRCC), out of which nearly 1.36 lakh are Punjabis. Currently, 3.5 lakh Punjabi students are enrolled in Canadian educational institutions.

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