With a stated goal of targeting institutional "bad actors" — and amid concern about the impact growing numbers of international students are having on the housing market — Immigration Minister Marc Miller announced Monday that the federal government will cap the number of student permits over the next two years.

The government says it will approve approximately 360,000 undergraduate study permits for 2024 — a 35 per cent reduction from 2023.

Each province and territory will be allotted a portion of the total, distributed according to population. The federal government says this will result in "much more significant decreases in provinces where the international student population has seen the most unsustainable growth