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Australia has recently updated its student visa rules, affecting Indian students looking to study abroad. The changes, effective from May 10, mean that students now need to meet a higher savings threshold to enter the country.
According to Australia’s Department of Home Affairs and Immigration, the new rules require international students to have savings equivalent to 75% of the national minimum wage. This adjustment aims to ensure that students have enough money to support themselves while studying in Australia.
For Indian students, this means they must demonstrate savings of at least A$29,710 (₹16,29,964) to be eligible for a student visa. Applications submitted before May 10, 2024, will be assessed based on the financial requirements in place at the time of application.
Home Affairs Minister Clare O’Neil emphasized that the country is experiencing a significant decrease in migration numbers.
The visa policy changes also target the shortage of rental housing that arose after COVID-19 restrictions were lifted in 2022.
For Indian students considering studying in Australia or already pursuing academic endeavors there, it’s essential to be aware of these changes and plan accordingly. Meeting the new savings threshold will be a key factor in obtaining a student visa and ensuring a smooth transition to life in Australia.
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