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Canada Increases Proof Of Funds For Nigerians, Others By 100%
Canada Increases Proof Of Funds For Nigerians, Others By 100%
Starting from January 1, 2024, the Canadian Government will increase the “cost-of-living financial requirement for study permit applicants,” particularly affecting international students, from $10,000 to $20,000.
Minister of Immigration, Refugees, and Citizenship, Marc Miller, revealed this in a statement, explaining that a single applicant must demonstrate they possess $20,635, which is 75% of the Low-Income Cut-Off (LICO), along with covering their first-year tuition and travel costs., adding, “This change will apply to new study permit applications received on or after January 1, 2024.”
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“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 close to two decades, study permit applicants for international students have remained at $10,000. This review, which takes effect from January 1, ‘will help prevent student vulnerability and exploitation,’” the statement added.
Recently, the United Kingdom implemented new visa rules, making it more challenging for applicants, including Nigerians, to obtain visas.
The changes were announced by Home Secretary James Cleverly in the House of Commons.
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