Australia announced on Wednesday its intention to raise the financial requirements for international students applying for visas, alongside issuing warnings to multiple colleges regarding deceptive recruitment methods. This move aims to tackle the escalating migration rates.
Effective Friday, international students must prove savings of at least A$29,710 ($19,576) to obtain visas, marking the second increase in seven months. Previously, the threshold was A$24,505, up from A$21,041 in October.
These actions respond to recent efforts to strengthen student visa regulations, driven by a surge in migration after the relaxation of COVID-19 restrictions in 2022. This surge exacerbated pressure on the rental market already under strain.
In March, English language proficiency requirements for student visas were heightened, and steps have been taken to prevent students from extending their stays. Clare O’Neil, the Minister for Home Affairs, announced that warning letters had been sent to 34 educational institutions for participating in “non-genuine or exploitative recruitment practices.” Offenders could face up to two years in jail and be barred from student recruitment if found guilty.
“Dishonest providers have no place in our international education sector. These measures will help eliminate unethical actors in the sector who seek to exploit individuals and tarnish its reputation,” O’Neil stated.
While international education is a crucial export industry for Australia, contributing A$36.4 billion ($24 billion) to the economy from 2022 to 2023, the surge in migration, mainly driven by international students, has strained the government, leading to skyrocketing rental prices nationwide. Net immigration surged by 60% to a record 548,800 in the year ending September 30, 2023.
The government expects its policies to potentially halve Australia’s migrant intake over the next two years.
Related: Fully-funded scholarships in Australia in 2024
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