Australia has implemented another significant change to its visa requirements for international students, potentially impacting Indian students planning to study there. The government, under Anthony Albanese, has increased the minimum savings requirement for a student visa to AUD29,710 ($19,576), marking the second hike in seven months. This adjustment represents an increase of $3,430 from the previous requirement of AUD 24,505 ($16,146).
These changes come amidst heightened migration and concerns regarding fraudulent practices in student recruitment. The Albanese government has taken various measures to tighten student visa processes, including raising the required IELTS score.
The recent rise in the proof of savings requirement follows a previous hike in October, indicating Australia's intensified crackdown on student visas as part of its efforts to reduce annual immigration by half. This stricter stance has particularly affected Indian students, leading to claims of targeted visa denials and raising concerns about potential negative impacts on bilateral relations.
Visas granted to Indian students saw a significant decline of 48% between December 2022 and December 2023, with India remaining the second-largest source country for international student enrollments in Australia. However, the government's actions aim to address fraudulent recruitment practices among education providers, with warnings issued to 34 providers for suspected non-genuine or exploitative practices.
Australia's international education sector, a significant export industry contributing AUD$36.4 billion ($24 billion) to the economy in 2022/23, has experienced strain from record migration, primarily driven by international students. This surge has impacted rental markets and strained resources across the country. Consequently, the government anticipates a significant reduction in migrant intake over the next two years, emphasizing its commitment to lowering migration levels.
