CANADIAN authorities have increased the cost of living Proof of Funds requirements for study permit applicants from other countries including Nigeria by 106.4 percent from ₦8,025,000.00 ($10,000) to ₦16,050,000.0000 ($20,000).
This new policy, according to Marc Miller, Canadian Minister of Immigration, Refugees and Citizenship, will apply to new study permit applications received on/after January 1, 2024, according to a statement by Immigration, Refugees and Citizenship Canada (IRCC) on Thursday.
Applicants to Canada before January need to show at least $10,000 in their bank account to prove that they can keep up with the cost of living in Canada.
Marc Miller, in the statement, said “Starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada.
For 2024, a single applicant will need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs.
“This change will apply to new study permit applications received on or after January 1, 2024,” the statement reads in part.
This review, which takes effect from January 1, “will help prevent student vulnerability and exploitation,” the statement added.
According to the minister, 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.”
It will be recalled that the United Kingdom a few days ago introduced a new set of rules that would make it more difficult for Nigerians and others to obtain a visa.
Home Secretary James Cleverly announced the changes in the House of Commons on Monday.
The government said it would now set a minimum annual salary for foreign workers to be eligible for a skilled worker visa at £38,700 from £26,200.
The figure itself is more than the existing median average salary of a full-time worker in Britain.
He exempted health and social care workers but said they would be prevented from bringing family dependents.
He reaffirmed that Britain would increase the surcharge that migrants pay to access the NHS by 66 percent, to £1,035.
Care England, a charity representing independent adult social care providers, said immigration had been “saving the social care sector”. Staff shortages have been exacerbated by Brexit.
Critics have said this effectively imposes a double charge on migrant workers, as employees also pay National Insurance charges, which go towards covering healthcare.
“For 2024, a single applicant will need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs.
“This change will apply to new study permit applications received on or after January 1, 2024,” the statement reads in part.
Eighteen-Eleven Media