On Dec 07, 2023; Minister of Immigration, Refugees and Citizenship, announced that starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada
For 2024, a single applicant will need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs. This change will apply to new study permit applications received on or after January 1, 2024.
Update on  Temp Policies:
- The waiver on the 20-hour-per-week limit on the number of hours international students are allowed to work off campus while class is in session will be extended to April 30, 2024.
- International students already in Canada, as well as applicants who have already submitted an application for a study permit as of December 7, 2023, will be able to work off campus more than 20 hours per week until that time
- The facilitative measure that has allowed international students to count time spent studying online towards the length of a future post-graduation work permit, as long as it constitutes less than 50% of the program of study, will continue to be in place for students who begin a study program before September 1, 2024
- Additional 18-month work permit to PGWP holders will not be extended
Source: IRCC Newsroom