INVC NEWS
New Delhi : Indian students aspiring to pursue their education in Canada are encountering a noticeable shift in the application trends. Between July and October of 2023, there has been a substantial decline in the number of students applying for studies in Canada. This decrease in applications has primarily been attributed to the rising cost of living in Canada.
Diminished Applications: A Reflective Shift
During this four-month period, the number of applications from India has dipped below 87,000, marking a significant downturn compared to the preceding year’s figure of 146,000 within the same timeframe. This downturn corresponds with a 25% increase in study permits issued by the Canadian government from January to July of the previous year.
Underlying Causes of the Downward Trend
Several factors have been identified as contributory to this downward trend. Among them, the escalating rental prices and the increasing challenges in daily livelihood have emerged as significant deterrents. Many Indian students have taken to social media platforms to voice their concerns about the difficulties faced while studying in Canada.
Financial Pre-Requisites: A Barrier to Entry
Adding to these concerns, the Canadian government, in the last month, urged international students to exhibit doubled financial management capabilities from January onward. Prospective candidates now need to showcase a sum of 20,635 Canadian dollars (equivalent to 12.95 lakhs in INR) in addition to tuition fees and travel expenses to secure their entry into the country.
The Appeal for Thorough Financial Documentation
Henceforth, any student aspiring to study in Canada must present comprehensive financial records, including the stipulated funds in their bank accounts. This measure aims to ensure that students have adequate financial backing to support their educational journey in Canada.
Indian students contemplating studying in Canada
In light of these developments, Indian students contemplating studying in Canada are facing increased financial prerequisites and a heightened cost of living. This shift has led to a notable decline in applications, emphasizing the need for prospective students to be well-prepared financially before embarking on their academic journey in Canada.
