- Australia has raised the minimum savings requirement for students entering the country to 75% of the federal minimum wage.
- The amount of savings has increased for the second time in the last seven months.
- In July 2023, the nation issued 6,54,870 temporary student visas, a record number.
Australia has raised the minimum savings requirement for students entering the country to 75% of the federal minimum wage. To be eligible for a visa, students will need to have at least A$29,710 (₹16,29,964) as of May 10, 2024.
The purpose of this adjustment is to guarantee that students, who may work during the 25% of the year they are not in classes, may afford the necessities of life while studying in Australia.
Student Visa Regulation
The amount of savings has increased for the second time in the last seven months. Following reports that a large number of people have moved to Australia since the COVID-19 limits were relaxed in 2022, leading to issues such as a scarcity of rental houses, the government is strengthening visa regulations.
The government tightened the English language proficiency standards for student visas in March and put measures in place to stop students from using several legal loopholes to prolong their stay.
In July 2023, the nation issued 6,54,870 temporary student visas, a record number. A minimum total score of 5.5 is required for international students enrolling in universities and programs, and work hours during study terms and semesters are among the additional measures to support international students.
These include extending Post-Study Work Rights (PSWR) by up to two years and replacing the Genuine Temporary Entrant (GTE) requirement with a Genuine Student (GS) requirement.
