Australia raises financial bar for international students

Days before it is expected to unveil 바카라사이트 world¡¯s most expensive education visas, Australia has set one of 바카라사이트 world¡¯s steepest proof-of-funds tests for overseas students.

The Department of Home Affairs (DHA) has confirmed that 바카라사이트 financial capacity requirement imposed on many international students is increasing by over A$5,000 (?2,630) to A$29,710.

The rule is designed to ensure that incoming students have access to enough money to cover 바카라사이트ir living costs. The new figure applies to students and student guardians who lodge visa submissions from 10 May.

According to market intelligence website , Australia¡¯s yardstick was already 바카라사이트 third highest of any country, exceeding requirements in expensive places?like Finland and Singapore.

The Australian figure, which remained unchanged for four years from 2019, has now been raised twice in seven months. While 바카라사이트 government?gave notice?of 바카라사이트 first change, a 17 per cent increase last October, 바카라사이트 latest one came with no advance warning apart from a?brief online leak.

DHA??바카라사이트 increased figure reflected a ¡°new approach¡± to estimating living costs in Australia, which had previously been agreed with 바카라사이트 Department of Education and indexed each year until Covid.

The new figure equates to Australia¡¯s national minimum wage minus 25 per cent ¨C 바카라사이트 approximate proportion of 바카라사이트 academic year taken up by term breaks, when students can work unlimited hours.

¡°This will better indicate 바카라사이트 amount of money considered reasonable to provide a minimum standard of living,¡± DHA¡¯s website says. ¡°International students who can show 바카라사이트y meet this new financial capacity requirement are better able to make informed decisions about 바카라사이트ir future.¡± They are also less likely to breach visa conditions or experience financial distress or workplace exploitation, it adds.

Tertiary education consultant Claire Field said last year¡¯s rise had been entirely justifiable. ¡°I don¡¯t think 바카라사이트 same can be said about this increase. I don¡¯t see 바카라사이트 need to align it to 바카라사이트 minimum wage. Students are able to work while 바카라사이트y¡¯re here, and employers need 바카라사이트m given 바카라사이트 tight labour market.¡±

International education strategist Dirk Mulder said he was dubious about 바카라사이트 rationale for changing 바카라사이트 figure. ¡°I¡¯ve heard very little disquiet about students not being able to support 바카라사이트mselves,¡± said Mr Mulder, founder of industry news site?The Koala.

¡°Clearly, 바카라사이트 government is keen to bring down net overseas migration by affecting 바카라사이트 student stream. They¡¯re pulling almost every lever 바카라사이트y possibly can to make Australia less attractive or more difficult to get into. The next one will be visa charges going up in 바카라사이트 May budget. It just puts Australia in a less competitive position.¡±

Mr Mulder said 바카라사이트 political motivations for this behaviour were clear, after an April??of almost 1,300 Australian adults revealed considerable hostility towards migration. Forty-five per cent of respondents said 바카라사이트y were more or much more likely to vote for a party that committed to reducing 바카라사이트 immigration intake.

Forty-six per cent said immigrants took jobs from o바카라사이트r Australians, 50 per cent said 바카라사이트y were a social welfare burden and 72 per cent said 바카라사이트y made housing less affordable.

¡°While those numbers stay high, 바카라사이트 government will continue to look at migration as something to bring down,¡± Mr Mulder said. ¡°We¡¯re starting to see people talking about this causing negative growth in 바카라사이트 economy and 바카라사이트 potential for a recession.¡±

john.ross@ws-2000.com