Canadian GIC and work rights revised for global students

In a pivotal move to address the updates regarding the Canadian GIC and work permits for international students, Minister Marc Miller of Immigration, Refugees and Citizenship Canada (IRCC) announced significant updates on December 7, 2023. These policy adjustments safeguard international students against mounting living expenses and recent housing challenges in Canada.

Canadian GIC proof of financial support increased

Starting January 1, 2024, the minimum proof financial support through a Canadian GIC will surge from C$10,000 to C$20,635. This will reflect the heightened cost of living. This adjustment emphasizes the dedication to ensuring that students are sufficiently equipped to handle the financial aspects of their studies in Canada. It is tied to Statistics Canada’s most recent low-income cut-off.

Extension of working hours limit

Additionally, extending the waiver on working hour limits for international students is a boon. This waiver Ty set to expire on December 31, 2023, has been extended and will remain in effect until April 30, 2024, as it was initially set to expire on December 31, 2023. This extension allows students to continue working off-campus for more than 20 hours per week during the winter semester. This will offer them flexibility, increased work experience, and additional income to support their studies.

Post-Graduation work permit updates

Notably, students commencing Canadian study programs before September 1, 2024, can still count remotely acquired study time toward their PGWP, up to 50% of the program. Furthermore, the qualifying PGWP holders with permits expiring before the end of 2023 remain eligible. This is for an extension to gain valuable work experience in Canada.

Canada’s commitment to international student well-being

These updates demonstrate the Canadian government’s commitment to supporting international students amid the challenges posed by the global COVID-19 pandemic. These policy adjustments will enhance the overall experience for international students. This will ensure that they have the financial means and flexibility needed to thrive in their academic pursuits in Canada.

WRITTEN BY

sriprakash dubey

Study Abroad Expert

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