Canada Doubles Its Cost Of Living Before The New Academic Year

Canada is set to more than double the official cost of living in Canada as per recent developments in the international students in Canada news. This step comes in the footsteps of the country facing an unprecedented student housing crisis along with growing inflation and prices. 

This change, set to forewarn future study permit holders, will be taken to action on January 1, 2024 according to Immigration, Refugees, and Citizenship Canada (IRCC). Now, study permit holders, as well as applicants, will need to show that they are able to finance their stay in the country and must be in possession of CA$20,635, compared to CA$10,000 earlier.

To elaborate on the release, IRCC explained, “The cost-of-living requirement for study permit applicants has not changed since the early 2000s, when it was set at $10,000 for a single applicant. As such, the financial requirement hasn’t kept up with the cost of living over time, resulting in students arriving in Canada only to learn that their funds aren’t adequate.”

The move addresses issues when it comes to international students in Canada struggling to find adequate housing as well as with the growing costs and expenses.

“We are revising the cost-of-living threshold so that international students understand the true cost of living here. This measure is key to their success in Canada.” said Marc Miller, Minister of the IRCC.

In October 2023, the Canadian government introduced reforms to the International Student Programme, pioneering new frameworks to judge educational institutions providing top-notch quality, including student housing. Therefore, according to the new rules, the government urged institutions to accept only students that they could adequately support. 

Miller also shared important updates on the anticipated extension of the waiver of the 20-hour-a-week work week. In addition, another policy that was addressed was the continuation of the provision that considered online study time eligible for a postgraduate work permit. The update states that the students who are already in possession of a study permit or have applied for one as of December 7, 2023, are eligible for the work-week cap until April 30, 2024. 

“The main purpose for an international student to be in Canada is to study. However, since most students are currently halfway through the school year and some are working full-time to meet their needs, we will extend the temporary policy that has allowed eligible international students to work more than 20 hours per week until April 30, 2024, the end of the academic year,” said Miller in this major cost of living in Canada news. International students in Canada often sustain their stay by working in their free time. Therefore, this waiver comes at an opportune time for most. 

Now, before the Sept 2024 semester takes place, the IRCC is prepared to “take necessary measures, including limiting visas, to ensure that designated learning institutions provide adequate and sufficient student support as part of the academic experience-.” In June, Amber reported on international students in Canada news in which the North American country was reported to have struggled in housing its international students. That problem still persists. Therefore, this move is seen as a means to combat the growing sense of uncertainty many students face in their day-to-day lives in Canada