Yes, if you plan to apply for your post-graduate work permit. Students must always have a valid study permit at all times while studying. In addition, students applying for their post-graduate work permit, must have a valid study permit when applying for their work permit.
There is a waiting period for student’s graduation status to be updated due to marking of final exams and projects, and having them entered into the system. It can take two to three weeks for the Registrar’s Office to update your status to graduate, so this means you will want to extend your study permit to give you enough time to apply for your post-graduate work permit upon completion of your program.
You must apply for your PGWP with a proof of graduation letter and/or a final transcript that says “awarded”.