Australia tightens student visa rules, savings threshold raised: Here is how it will affect Indian applicants
₹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.
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 the country is in the middle of the biggest drop in migration numbers in Australia’s history. 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.Milestone Alert!
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