Canada doubles financial requirements for international students

Canada has increased the financial requirement to $20,635 from $10,000 for foreign students applying for study permits.

Canada's Immigration Minister Marc Miller informed the decision at a recent press conference while announcing a set of new requirements for foreign students.

The amount will be adjusted annually based on a Statistics Canada benchmark for living costs, reports CBC News.

“Starting next year, Marc Miller said prospective international students will need to show they have access to $20,635 instead of the $10,000 requirement that has been in place for two decades, in addition to paying for travel and tuition,” the CBC News said.

The country has also extended an exemption that allowed current international students without an employment visa to work for more than 20 hours each week off campus.

The students are now eligible to work for more than 20 hours a week off-campus until April 30, 2024.