Drop in number of students opting for Canada

THE number of student visa applications from India to study in Canada has experienced a significant decline, dropping by approximately 40% in the latter half of 2023. The recent announcement by Canada regarding an increase in the financial requirement for international students further compounds the challenges for prospective students.

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Starting January 1, 2024, the Guaranteed Investment Certificate (GIP) requirement for study permits will be raised to $20,635, doubling the longstanding $10,000 threshold. This change, coupled with expenses for travel and tuition, particularly impacts Indian students, particularly those from Punjab, who constitute a substantial portion of annual applicants for Canadian student visas.

Students and their families now face the necessity of securing additional loans to fund their education in Canada.