Many of the students who are already in Canada will go home—many will go to third countries—but many of them want to stay, and the reduction in the permanent numbers, which were also announced in the levels plan, will have a very significant impact on students who are already here.
The provincial nominee programs have been reduced by 50%. Many of the provinces across the country had special streams that would allow international students to transition to permanent residency through PNPs. Other economic programs have also been reduced. Even if students qualify with high levels of points, there won't be enough spaces for them to transition to permanent residency because those numbers have been reduced quite significantly. That's a problem.
Even for the international students who are here now and aren't necessarily looking for permanent residency yet, or who haven't made up their mind or want to get some work experience before they go back to their home countries, the eligibility criteria for post-graduation work permits is being restricted. Many of them will not be able to continue to work, and they cannot get their PGWPs extended or renewed. The tightening on the TFW permits is also being restricted.
I think there is a possibility that many current international students will have no legal avenues to remain in Canada, and that will create a difficulty.