Explained: The New Australia Student Visa Rule & Its Impact on Indians Planning to Study Abroad

New Delhi: Australia tightened the visa rule for international students by increasing the amount of money required to be with the student to enter the country. 

The new visa rule, effective from May 10, will mandate international students to show that they have savings of at least A$29,710 (₹16,29,964) to qualify for the visa. 

About seven months ago, already a hike to A$24,505 from A$21,041 in October was enforced. With an aim to control record migration post-Covid era, the Australian government also increased English language requirements for student visa in March this year. 

Impact on Indian Students 

The sudden change is meant to ensure students afford basic requirements while studying in Australia. However, the hike in savings requirement will bar most of the Indian students from pursuing education in the foreign land. 

In countries like USA, there are no standard rules fixed for minimum bank balance to obtain F-1 visa. However, it's recommended to have at least $10,000 in bank account while applying for the same. 

According to Australia Visa News, the estimated number of temporary student visas granted in the country reached a record high of 6,54,870 in July 2023, marking a significant increase from the previous year. 

The shift in Australia's policy, aimed at reducing annual immigration, has significantly affected the Indian students. Not just financial strain, but approval rate for visa to Indian student also plummeted massively, by almost 48 per cent between December 2022 and 2023. 

Despite roadblocks, India remains the second-largest source country for international student enrollments in Australia. Reports suggest that nearly 122,000 Indian students were studying in the country between January and September 2023.