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Decline in student enrollment for Canada

The latter part of 2023 witnessed a substantial drop of around 40% in student visa applications from India to study in Canada. The recent decision by Canada to raise the financial threshold for international students exacerbates the challenges faced by potential applicants. Commencing on January 1, 2024, the Guaranteed Investment Certificate (GIP) requirement for study permits will see a significant hike to $20,635, doubling the longstanding $10,000 benchmark. This alteration, coupled with other expenses like travel and tuition, disproportionately affects Indian students, especially those from Punjab, who traditionally make up a significant portion of annual applicants for Canadian student visas. Students and their families now confront the necessity of securing additional loans to finance their education in Canada.

Data from Immigration, Refugees and Citizenship Canada (IRCC) reveals that student visa applications from India to study in Canada dropped by 40% in the second half of 2023. From July to October, only 86,562 applications for new study permits were recorded, compared to 145,881 during the same period in the previous year. Given that Indians make up almost half of international students in Canada, the decline in applications has broader implications for overall enrollment figures.

The increased GIP from $10,000 to $20,635 is expected to significantly reduce the number of students going to Canada on student visas, according to Shamsher Singh Sandhu, managing director of Canadian Migration Lawyers. Additionally, changes in work permit policies may discourage students further, limiting their stay in Canada post-studies. Various factors, including political tensions, visa refusals, limited job opportunities, and high rental costs, contribute to the waning interest of students in studying in Canada. The anticipated impact of these changes on international student intake is likely to manifest by September 2024, potentially leading to regional restrictions on students due to concerns such as housing crises and local backlash. The financial strain on parents has intensified, with the cost of sending students to Canada expected to increase by approximately Rs 6.50 lakh. This financial burden is compelling families to seek additional funds, with middle-class parents finding it challenging to meet the heightened financial requirements for their children’s education in Canada.

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