How Does Canada’s Recent Cap on Study Visas Affect Indians (2024)
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How Does Canada’s Recent Cap on Study Visas Affect Indians (2024)
According to a news release by the Canadian Government, there is a temporary cap on the number of student visas issued. The cap is expected to cut the student intake by approximately one-third, meaning only around 360,000 study permits will be approved for 2024, which is a decrease of 35% from 2023. However, the students applying for master’s and PhD programmes will be exempted from the cap. The cap is temporary and will be re-assessed at the end of this year.
Will The Study Permit Cap Impact Current Indian Study Permit Holders?
The caps will only apply to undergraduate programs (including bachelor’s degrees, certificates, and diploma programs) offered by colleges and universities in Canada.
How Does This Policy Impact Upcoming Indian Students?
This reduction in study permits may impact Indian students admissions and might make the process bit competitive as compared to earlier, as Canada is a preferred destination for higher education. According to a news article by Business Standard, Indians comprised nearly 40% of the international students that were permitted inside Canada in 2023. Over 41% or 225,835 – of all permits were handed over to Indians in the year 2022. Additionally, in 2023 alone, approximately 300,000 Indian students went to Canada. With 35% lesser study visas being available for 2024, this could mean a tougher competition for Indian students.
Updated Eligibility for PG Work Permit Program
- International students beginning study programs in private colleges that deliver licensed curriculum (programmes delivered via public-private partnerships) on or after September 1, 2024, will not be eligible for PGWPs ( if you want to know which colleges are under the list and which are not, just click on this link and Niyo’s team will help you with the best guidance)
- However, there’s good news for master’s graduates: They will soon be able to obtain three-year PGWPs. Graduates of master’s degree programs in science, technology, engineering, and mathematics (STEM) will soon be eligible to apply for a three-year work permit. The existing criteria tie the duration of a post-graduation work permit solely to the length of an individual’s study program, for example- if you went for an MBA worth thousands of dollars and the degree is just 11 months long, you might not have got the benefit of extended stay while a person doing 2 diplomas at much cheaper costs would be able to get 3 year stay backs. The new rule has solved this unfair policy and now even if your degree is a STEM-designated degree and is just 11 or 12 months long, you will still get longer stay-back permits, which would help smoother transitions to Permanent Residency. So, in short, Canada is trying to keep only the best minds.
Note: Updated Cost of Living Requirements:
Starting January 1, 2024, international students will have to deposit $20,635 in the GIC account instead of the previous $10,200 earlier. This increase would not increase your cost of education but would definitely impact the amount you need upfront before starting the education.
Click here to learn more about how to get the best GIC account.
Get CIBC bank’s GIC account digitally through this link and transfer the $20,635 funds through the Niyo Global app at the most affordable rates. (Note that the requirement is different for students moving to Quebec).
Is Canada Still A Worthwhile Country To Study In?
Plan your studies in Canada with a Student Forex Card. Enjoy seamless transactions.
