Australian student visa applicants will soon need to show higher savings
Starting from 1 October, international students applying for Australian student visas will be required to show minimum savings of $24,505. The federal government says the move aims to ensure international students have sufficient financial resources to avoid immediate employment-related stress.
- From 1 October 2023, international students will need to show evidence of $24,505 in savings, which is a 17 per cent increase on current levels.
- The government will apply additional scrutiny to high-risk cohorts and ask for additional documents to prevent fraud in the international students’ applications.
- According to the Australian Bureau of Statistics, 131,640 international students arrived in the country in July 2023, an increase of 60,420 students on the same period last year.
The federal government recently disclosed that, starting from next month, international students will be required to show savings of $24,505, marking a 17 per cent rise from the current levels.
The government said the hike is a catch-up, as this figure had not been indexed since 2019.