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Yes because you are no longer a studen.
My program ends on Fall 2024 but I was given study permit only till Fall 2023, I was told it is easy to extend and can be done some months prior to the expiry date. But, I am facing a suspension now, which would force me to not study in Fall 2020. Would that affect my application for extension of study permit to complete my studies?
 
You should really consult with your school's international department on what is the next best move for you. They will be far better equipped to help you than anyone here