The Canada’s government has raised the proof of funds for Nigerian and other international students from ₦8,025,000.00 ($10,000) to ₦16,050,000.0000 ($20,000).
On Thursday, Marc Miller, the Canadian Minister of Immigration, Refugees, and Citizenship, issued a statement announcing that the new requirement will be implemented starting from January 1, 2024.
“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.
In 2024, a sole applicant must demonstrate possession of $20,635, equivalent to 75% of the Low Income Cut-Off (LICO), along with covering their initial year’s tuition and travel expenses.
“This change will apply to new study permit applications received on or after January 1, 2024,” the statement reads in part.
For nearly twenty years, study permit applicants for international students have been set at $10,000.
This review, which takes effect from January 1, “will help prevent student vulnerability and exploitation,” the statement added.
The UK
This reassessment of proof of funds follows shortly after the United Kingdom implemented a new set of regulations, making it more challenging for Nigerians and others to secure a visa.
Home Secretary James Cleverly revealed these changes in the House of Commons on Monday.
The government announced that there would now be a minimum annual salary requirement for foreign workers to qualify for a skilled worker visa, set at £38,700, up from £26,200.
Notably, this figure surpasses the existing median average salary of a full-time worker in Britain.
While health and social care workers were exempted from these changes, it was emphasized that they would be restricted from bringing family dependents.
He reiterated that Britain is set to raise the surcharge migrants pay for NHS access by 66 percent, reaching £1,035.
Care England, a charity advocating for independent adult social care providers, highlighted that immigration has been crucial in sustaining the social care sector, which has been strained by staff shortages exacerbated by Brexit.
Critics argue that this essentially imposes a dual financial burden on migrant workers, as they are also subject to National Insurance charges, which contribute to healthcare coverage.
“For 2024, a single applicant will need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs.”
“This change will apply to new study permit applications received on or after January 1, 2024,” the statement reads in part.