ApplyBoard faces a reckoning as Canada’s immigration boom turns into a…

The reversal marks a dramatic shift from the pandemic-era boom that saw ApplyBoard facilitate applications for tens of thousands of students annually. In January 2024, Immigration Minister Marc Miller announced a two-year cap on new study permits, limiting approvals to approximately 606,000 for 2024 and 2025 combined — a 35 percent reduction from 2023 levels. The government also tightened language requirements, raised financial proof thresholds, and restricted off-campus work hours, measures designed to curb what officials described as abuse in the international student system.

ApplyBoard's business model depends on volume: the platform charges partner institutions recruitment fees when students enroll, typically ranging from 10 to 20 percent of first-year tuition. With fewer permits issued and stricter eligibility criteria, the pipeline of applicants has narrowed. The company reportedly cut approximately 15 percent of its workforce in early 2024, though it has not disclosed precise figures. Revenue growth, which had accelerated during the post-pandemic surge in applications, has stalled as colleges and universities receive fewer international enrollments.

"The international education sector is adjusting to a new reality," the company stated in a recent communication to partners, acknowledging the policy environment had shifted.

The downturn affects not only ApplyBoard but the broader ecosystem of private colleges, language schools, and immigration consultants that expanded rapidly to serve international students. Institutions in Ontario and British Columbia, which enrolled the majority of international students, face budget shortfalls as tuition revenue declines. Smaller private career colleges, many of which relied heavily on ApplyBoard's referral network, have closed or merged. Immigration consultants who specialized in study permit applications report a 40 to 50 percent drop in client inquiries since the caps took effect.

Prospective international students should verify current study permit allocations through their IRCC online account and confirm that any institution they apply to holds a valid Designated Learning Institution number. The federal government publishes updated DLI lists on canada.ca, and applicants must ensure their school remains eligible under the new provincial attestation requirements introduced in 2024. Students already holding valid permits are not affected by the cap, but those planning to apply for the first time or extend their studies should consult the latest IRCC guidelines before submitting applications.