2024 to see higher GIC requirement for Canada Study Visa

2024 to see higher GIC requirement for Canada Study Visa

Breaking News: Marc Miller again shares new updates on Canada Study Visa. This time the news comes as a bit of a surprise. However, as per the reasons shared by the immigration minister, we may see positive changes in future. With 2024 to see a higher GIC requirement for Canada Study Visa, we must also take into consideration other policy changes introduced.


Key highlights:

  • Firstly, the GIC requirement for international students is up from CAD $10,000 to $20,635.
  • Secondly, the policy on international students working more than 20 hours is extended again.
    • So, you can continue to work beyond 20 hours until April 30, 2024.
    • This applies to students in Canada. And people who have already submitted their study visa application before Dec 07, 2023.
  • Also, the policy allowing international students to study up to 50% in their home country and 50% in Canada is now extended.
    • The last PGWP extension was on Mar 31, 2023. 
    • Now the new extension is applicable till Sep 01, 2024.
  • Besides, Canada has decided to no longer give an extension on PGWP.


Why is Canada setting a higher GIC requirement for Canada Study Visa?

As much as the news sounds alarming, there is a higher concern for the international student’s safety and settlement behind the new updates. As a student, you will find the living cost – GIC and other expenses a bit higher. However, the GIC requirement has not been changed for the past 23 years. 

Since then, Canada has progressed a lot. A prime root for this new change is the international students facing the housing crisis. No international students after spending heavy amounts of money should struggle to live in Canada. There have been multiple incidents of students facing issues with landlords charging heavy rents, putting a large group of students in a small house.

So, to make sure all students entering are comfortable and well-settled Canada is making this positive change. Besides, quality education, for a quality price is worth the investment. Once you finish your academic journey you are bound to excel in your career.

2024 may have a higher GIC requirement but do not worry at all. At Global Vision Immigration (GVI) we will make sure that not only you get a visa but also get settlement services. As a result, with GVI, you will have a place to live before you enter Canada.

Now, do not wait for more changes in Canadian immigration policies. Apply now for a Canada Study VisaFree Assessment. Contact Us to know more.

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