Australia hikes student visa financial requirements; find out if it will affect Indian students
As per the latest development, Australia announced on Wednesday its decision that it will be going ahead and increasing the financial requirements for international students applying for visas.
It has also issued warnings to several colleges regarding fraudulent student recruitment practices. If reports are to go by, these actions are part of a broader strategy to manage the surging migration rates.
Reports further add that effective from Friday, international students will be required to provide proof of savings of at least A$29,710 ($19,576) to obtain their visa, which marks the second adjustment in approximately seven months. Previously, as reported earlier, the threshold was raised from A$21,041 to A$24,505 in October last year.
These measures come in response to the mounting pressure on the rental market exacerbated by the sudden influx of migrants following the relaxation of COVID-19 restrictions in 2022. In a bid to control this surge, the government has implemented various changes to student visa regulations, including heightened English language proficiency requirements and measures to prevent students from extending their stays indefinitely.
Referring to this, Home Affair Minister Clare O’Neil informed that they have issued stern warnings to 34 education providers that are accused of engaging in ‘non-genuine or exploitative recruitment practices.’ She also elaborated about the severity of the consequences, with potential penalties including imprisonment for up to two years and bans on student recruitment.
O’Neil asserted, “Dodgy providers have no place in our international education sector. These actions will help weed out the bottom feeders in the sector that seek to exploit people and trash the reputation of the sector.”
Despite its significant economic contribution – with the international education sector valued at A$36.4 billion ($24 billion) in 2022/23 – the unprecedented levels of migration, largely driven by international students, have strained resources and infrastructure, particularly rental markets. Net immigration surged by 60% to reach a record 548,800 individuals in the year ending Sept. 30, 2023.
The government anticipates that its policies will result in a substantial reduction in Australia’s migrant intake over the next two years. O’Neil stated, “We are significantly reducing migration levels – we are in the middle of the biggest drop in migration numbers in Australia’s history, outside of war or pandemic.”