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Proof of funds for Nigerians and others is increased by 100% in Canada

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Proof of funds for Nigerians and others is increased by 100% in Canada

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For international students and those seeking a study permit, the Canadian government has raised the “cost-of-living” monetary threshold from $10,000 to $20,000 as of January 1, 2024.

The announcement was made public on Thursday by Marc Miller, the country’s Minister of Immigration, Refugees and Citizenship.

He said that beginning in 2024, all new study permit applications received after January 1, 2024, will be subject to the requirement that a single applicant provide evidence of having $20,635, which constitutes 75% of LICO, in addition to the first year’s tuition and travel expenses.

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To ensure that overseas students can afford to live in Canada, the cost-of-living stipend will be increased for study permit applicants beginning January 1, 2024.

There has been no change to the $10,000 application fee for overseas students seeking a study permit for nearly twenty years. The statement went on to say that this evaluation “will help prevent student vulnerability and exploitation” once it takes effect on January 1.

This news follows the UK’s recent introduction of new visa requirements that would make it harder for certain applicants, including Nigerians, to gain entry to the country.

The changes were unveiled on Monday in the House of Commons by Home Secretary James Cleverly.

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