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Australia extend financial requirements for foreign students

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Australia extend financial requirements for foreign students

Australia has taken decisive steps to strengthen its international education system by closing significant gaps allowing education providers to transition international students into work immediately after graduation. they come.

Additionally, the Australian government has increased the financial requirements for international students applying for student visas, with the aim of ensuring their financial stability during their studies.

Financial Requirement Increase

Effective from 1 October 2023, international students applying for a student visa to Australia will now be required to demonstrate evidence of financial capacity in the amount of $24,505. This represents a 17% increase over the previous request.

The adjustment takes into account indexation as of 2019, and it is important to note that this financial threshold only concerns student applicants. If an applicant wishes to bring dependents, they must meet the revised financial capacity criteria set out in the visa requirements.

Why is Australia making these changes?

The Australian government has identified a number of concerning trends in the international education sector, including:

A sharp increase in the use of the concurrent function, allows international students to enrol in multiple courses at the same time.
A significant number of international students transfer to cheaper, lower-quality courses after arriving in Australia.
A number of cases of international students being exploited by unscrupulous education providers.

Ensuring Student Financial Stability

This significant increase in financial requirements is a proactive measure taken by the Australian Government to ensure that international students coming to the country can fully support themselves financially.

This measure aims to prevent students from being placed under undue pressure to find work immediately upon arrival, which can sometimes lead to exploitation and affect the quality of their educational experience. Surname.

Enhanced Scrutiny and Fraud Prevention

To further enhance the integrity of the international education system, the Australian Government will increase its monitoring of high-risk applicant groups. Additional documents and verification procedures will be implemented to prevent visa application fraud.


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These measures are intended to maintain the credibility and reputation of Australia’s international education sector.

Addressing a Loophole

Closing the visa loophole is an important step towards maintaining the integrity of the international education system in Australia. In 2023, exploitation of this loophole increased significantly, with 17,000 concurrent registrations recorded in the first half of the year.

This number is significantly higher than the combined total for the same period in 2019 and 2022, which was about 10,500.

Government’s Commitment to Quality Education

Australia recognizes the importance of the international education sector, the country’s fourth largest export sector. Home Secretary Clare O’Neil has underlined the Government’s commitment to maintaining its global reputation for quality education.

She stated, “International education is our fourth largest export — it’s essential that we maintain our global reputation for quality education. Our government has no tolerance for people who exploit students. Our message is clear — the party is over, and the rorts and loopholes that have plagued this system will be shut down.”

Conclusion

In summary, Australia’s measures to close the visa loophole and increase financial requirements for international students reflect its commitment to safeguarding the quality and integrity of its international education sector while ensuring the well-being of students pursuing their studies in the country.

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LEXPERT SOLICITORS LLP

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Daily Dazzling Dawn is the first and only international and non-profitable newspaper, which is 100% ownership of professional journalists from Bangladeshi origin with 20 years of experience in global journalism. The main aim of the newspaper is promoting ethical journalism with truth, accuracy and proficiency.

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Dulal Ahmed Chowdhury

Dulal Ahmed Chowdhury is the Editor of The Daily Dazzling Dawn. Previously, he has been serving in important positions in all the famous national dailies of the Bangladesh since the nineties. He has played a commendable role in journalism by participating in various events at the national and international levels. United Nations Conference, World Climate Conference, SAARC Summit are notable among them.

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