By Emmanuel Adeleke
The Canadian government has announced an increase in the proof of funds (PoF) requirements for Nigerians and other international students.
PoF is a financial requirement for persons applying to migrate to Canada to show that they have enough money in their accounts to support themselves and their families in the new country.
Since the early 2000s, the cost of living requirement for study permit applicants was $10,000 for a single person.
However, the Minister of Immigration, Refugees and Citizenship Canada (IRCC), Marc Miller, in a statement on Thursday, said the PoF has been reviewed to $20,635, in addition to first year tuition fee and travel costs.
The change will apply to new study permit applications received on or after January 1, 2024, and it would be adjusted each year when Statistics Canada updates the low-income cut-off (LICO).
“International students provide significant cultural, social and economic benefits to their communities, but they have also faced challenges navigating life in Canada.
“We are revising the cost-of-living threshold so that international students understand the true cost of living here. This measure is key to their success in Canada.
“We are also exploring options to ensure that students find adequate housing. These long-overdue changes will protect international students from financially vulnerable situations and exploitation,” Miller said.
Miller also said the waiver on the 20-hour-per-week restriction on the number of hours international students are allowed to work off campus while school is in session has been extended to April 30, 2024.
