The Canadian dream of Indian students might just remain a dream now as it will now cost much more than having just a mere dream.

The North American country, a favourite destination for Indians because of its liberal route to permanent resident status and citizenship, has doubled the cost-of-living requirement for international students.

Indians form the bulk of the international students in Canada. The much-needed increase in the cost-of-living requirement is going to increase the burden on an individual by over Rs 6 lakh.

Canada's Minister of Immigration, Refugees and Citizenship, Marc Miller, announced last week (December 7) that the cost-of-living financial requirement for study permit applicants would be raised to Canadian $20,635 from Canadian $10,000 with effect from January 1, 2024.

That is the money international students will need to have in their bank accounts as proof of funds that they can survive in Canada.

This will be in addition to their first year tuition and travel costs and will be adjusted every year, a Canadian government statement said.

"This adjustment mirrors the escalating cost of living in Canada in a more realistic way," Manan Gupta, Regulated Canadian Immigration Consultant, tells IndiaToday.In. "The government has tried to address the gap between previous financial requirements and the actual cost of living in Canada which has increased exponentially over the past couple of years," says Manan, on why Canada increased the minimum financial requirement.

"The change comes because it is difficult for international students to sustain themselves in today's Canada," says Gaurav Bhatt, a journalist with The Canadian Press, tells IndiaToday. Bhatt, however, believes the move announced for January will leave many students scrambling.

The Ontario-based journalist says that the number of job vacancies in Canada is nowhere near the number of students coming in, and most international students have trouble landing a job and are forced to ask for support from their families back home.

The situation is so dire that students are forced to line up at food banks in Canada.