You're absolutely right. There are a lot of foreign student success stories. They came to Canada as foreign students, passed through our institutions, now occupy senior positions in the communities and are leaders of their francophone communities.
That's why I'm telling you that, if the number of foreign students falls sharply when classes resume in May or September, that will mean that many fewer graduates may be applying for permanent residence in Canada in two or three years. This is a number that's bandied about, but 90% of foreign students in our institutional network want to remain in Canada. That's a significant percentage, but, despite that, if the basin of origin significantly shrinks, far fewer foreign students will be able to choose that pathway to permanent residence.
I would also note that this is an objective of the francophone immigration policy. One of the performance indicators of that policy is growth in the number of francophone foreign students in Canada outside Quebec relative to the 2023 reference year. If the announced cap is implemented, we'd be starting at 30% or 35% under the measure used as the basic measure for assessing the policy's successes.