Canada is all set to double the financial requirements for cost of living for students who want to come to the country. From next year onwards, prospective students will need to show at least C$20,635 in their account instead of C$10,000 which was the previous requirement. This decision has been taken keeping in mind the rising house rents in Canada. More than 3,19,000 students from India went to Canada for higher education in 2023. India is among the top five countries to send students to study in Canada.
The financial requirement has been raised to make sure that students are comfortably able to find an accommodation for themselves and continue with studies. Students come with inadequate funds only to find that everything is extremely expensive. By raising the minimum requirement for international students, Canada wants to promote a most secure life for international students in the country.
