Australian Govt Raises Student Visa Savings Requirement, Indian Students To Be Impacted
In the wake of record migration, Australia announced on Wednesday that it would raise the amount of savings international students will need to obtain a visa and cautioned colleges about fraudulent recruitment practices. This decision is likely to impact scores of Indian students who plan to pursue further studies Down Under.
From May 10, international students must show proof of savings of at least A$29,710 to get their visa, the second increase in about seven months. It was raised to A$24,505 from A$21,041 in October. The move comes after a series of policy changes in recent months to tighten the student visa rules as the lifting of Covid-19 restrictions in 2022 triggered a sudden influx of migrants.
Earlier in March, the government increased English language requirements for student visas and took steps to end settings that allowed students to prolong their stay. Australian Home Affairs Minister Clare O’Neil said warning letters had been sent to 34 education providers for “non-genuine or exploitative recruitment practices”.
They could be jailed for up to two years and banned from recruiting students if found guilty, she said. “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,” O’Neil said in a statement. International education is one of Australia’s largest export industries and was worth A$36.4 billion to the economy in 2022/23.
However, record migration, mostly driven by international students, has put the government under pressure with rental prices soaring across the country. Net immigration rose 60% to a record 548,800 in the year to Sept. 30, 2023. The government expects its policies could halve Australia’s migrant intake over the next two years. “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,” O’Neil said.
Australia’s policy shift on student visas, aimed at halving annual immigration, has significantly impacted Indian students. Visa approvals for Indian students plummeted by 48% from December 2022 to December 2023. Despite this, India remains the second-largest source country for international student enrollments. Figures indicate that 122,000 Indian students were reportedly studying in the country between January and September 2023.
(With agency inputs)