Canada is one of the most preferred study abroad destinations for Indian students. 39.5% of the total international students studying in Canada are from India. The students are pouring C$10 billion into the economy of Canada. Now from 1st January, 2024 onwards, Canada is all set to increase the minimum financial requirement for cost of living in Canada. This was previously C$10,000 and has now been raised to C$20,635.
All the students who will be coming to the country from 2024 onwards will have to show this amount to the immigration department to get a student visa. The minimum cost of living has been raised keeping in mind the higher trends in Canada. The government has said that most of the students coming to Canada end up spending more than what they have planned due to which they have to work for long hours as part-time workers. This distracts them from the actual purpose of studying. Raising the minimum financial requirement will help in making sure that students are able to put all their attention towards studying.
