Canada was dream destination for Indian students. Something has changed.
₹22 lakh, most of which will be financed through a loan. Canada had upped the GIC from CAD $10,000 ( ₹6 lakh) to CAD $20,635 ( ₹12 lakh) effective from 2024. A GIC is similar to a secure investment and acts as a proof that the student has the means to live and pay for expenses in Canada.
One can get GIC from Canadian financial institutions. “To maintain a sustainable level of temporary residence in Canada as well as to ensure that there is no further growth in the number of international students in Canada for 2024, we are setting a national application intake cap for a period of two years for 2024," immigration minister Marc Miller said in January this year. “The cap is expected to result in approximately 364,000 approved study permits, a decrease of 35% from 2023," he had then added.
While colleges and consultants had estimated a dip, the real numbers are playing out now as students start applying for their visa process for the fall session, which sees maximum enrolments. “In 2023, 3,000 of our students had gone to Canada; this year we expect 2,200 at most," said Vaibhav Gupta, chief marketing officer, iSchoolConnect Pvt Ltd, an overseas education consultant. “The fall session is seeing an uptick in deferral rates for Canada from our clients." Deferrals option is where a student postpones the joining even after getting accepted due to uncertainties, financial constraints, etc.
Read more on livemint.com
