Australia tightens student visa rules, savings threshold raised: Here is how it will affect Indian applicants

Australia's student visa rules: Canberra has recently updated the guidelines for student visa applicants, effective from May 10. The minimum savings required to enter the country on a student visa has been raised.

Fareha Naaz
First Published10 May 2024, 03:02 PM IST
Australia's student visa rules: The recent changes in visa policies are aimed at addressing rental housing shortage issues across the country after the lifting of COVID-19 restrictions in 2022.
Australia’s student visa rules: The recent changes in visa policies are aimed at addressing rental housing shortage issues across the country after the lifting of COVID-19 restrictions in 2022. (Pixabay)

The Australian government has recently tightened the norms for international students applying for a visa to enter the country, and the new rules will come into force from Friday, May 10. As per the updated regulations, the minimum threshold amount needed as savings to enter the country on a student visa has been increased substantially.

“The financial capacity requirement has been updated to align with a proportion (75 per cent) of the national minimum wage,” Australia's Department of Home Affairs and Immigration stated in a press release. This means the international students are required to have 75 per cent of the national minimum wage as savings. The government has imposed new guidelines to ensure a minimum standard of living for foreign students studying in Australia.

Also read: Tesla lays off over 16,000 employees; many face H-1B visa deadline: 'Feels like a bad dream’

The government's statement further reads, “This proportion considers that students are out of course session for 25 per cent of the year. During this time, they may return home or have access to unrestricted work.”

The Australian government has raised the minimum savings amount required for entry into the country on a student visa.

Indian students aspiring to study in Australia, as well as those who are already pursuing academic degrees in the island country, must show that they have at least A$29,710 ( 16,29,964) in savings, to be eligible for a student visa, which equals 75 per cent of the national minimum wage. “We will assess applications lodged before ​May 10, 2024, under the financial capacity requirements in effect at the time of application,” the press release further noted.

Also read: UK visa review on May 14 to have a far reaching impact on international students from India

The development came just days after the authorities tightened student visa rules to reduce the overall inflow of migrants. The last hike pertaining to minimum saving adjustments was made seven months ago. Previously, an increase from A$21,041 ( 11,54,361) to A$24,505 ( 13,44,405) was imposed in October last year.

Australia's Home Affairs Minister Clare O’Neil said the nation is significantly reducing migration levels outside of war or pandemic. He noted that Australia is in the middle of the biggest drop in migration numbers in its history.

Also read: Visa-free entry for Indians: Pack your bags this summer; these island nations beckon you with tourist-friendly policies

The recent modifications to visa policies have been implemented to tackle the rental housing shortages that emerged in the country following the removal of COVID-19 restrictions in 2022.

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First Published:10 May 2024, 03:02 PM IST
HomeNewsAustralia tightens student visa rules, savings threshold raised: Here is how it will affect Indian applicants

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