09/12/2023
Important: Study Permit Financial Requirement Update
On December 7, Immigration, Refugees and Citizenship Canada (IRCC) shared some important updates affecting international students. These changes impact study permit applications and GIC requirements.
Here's the new update:
Starting from January 1 2024, the Minimum Financial Requirement for Canadian study permit applications will increase.
Next year, students must show access to C$20,635 (up from C$10,000), plus the cost of their travel and first-year tuition fees. This amount more accurately reflects the current cost of living in Canada.
This change also applies to Student Direct Stream (SDS) study permits, which show proof of financial support with a Guaranteed Investment Certificate (GIC). The minimum GIC amount will increase to C$20,635 from C$10,000 in January.
If your students wish to apply without needing to meet this new financial requirement, you must submit their application before January 1.
Follow us on Facebook and Instagram and for more info and update. Apply to study abroad with us!