Starting on January 1st, the cost-of-living requirement for a single study permit applicant will be $20,635. This is in addition to the first year of tuition and travel costs and will apply to study permit applications received on or after January 1st.
The new cost is more than double the current requirement of $10,000, an amount brought in during the early 2000s that has not been adjusted since.
IRCC says the financial requirement has not kept up with the cost of living in Canada and students have been arriving only to learn their funds do not go as far as they hoped.
