Prime Minister of Australia Anthony Albanese has announced a significant change to its visa requirements for international students.

The latest adjustment includes an increase in the minimum savings requirement, with international students now needing to provide proof of savings amounting to at least AUD 29,710 ($19,576) to qualify for a student visa.

The new savings requirement reflects an increase of $3,430 from the previous amount of AUD 24,505 ($16,146).

The decision comes amidst concerns over fraudulent practices in student recruitment and a surge in migration, prompting the Australian government to introduce measures aimed at curbing immigration and tightening student visa regulations.

These measures also involve raising the International English Language Testing System (IELTS) score required for visa eligibility.

The recent adjustment in the savings requirement follows a previous hike in October when the amount was raised from AUD 21,041 to AUD 24,505.

The changes implemented by Australia about student visas have had a significant impact on Indian students, with a substantial decline in the number of visas granted to Indian students between December 2022 and December 2023, amounting to a 48% decrease.

India continues to be the second-largest source country for international student enrolments in Australia, with approximately 122,000 Indian students studying in the country between January and September 2023.

However, the Australian government’s crackdown on education providers suspected of engaging in fraudulent recruitment practices has contributed to these declining numbers. These recent adjustments are part of a series of changes Australia has made to its student visa policies.

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The Australian government’s efforts to reduce annual immigration by half have put immense strain on resources, particularly in rental markets across the country.

The surge in migration, driven primarily by international students, has prompted the government to take action.

Net immigration rose by 60% to a record 548,800 in the year leading up to September 30, 2023.

With the challenges posed by the influx of migrants, the government aims to significantly reduce the intake of migrants over the next two years.

Home Affairs Minister Clare O’Neil emphasized that Australia is currently experiencing the largest decline in migration numbers in its history, outside of war or pandemic.

The stricter student visa requirements and alleged targeted denial of visas to students from specific countries have contributed to the decline in the number of international students coming to Australia since 2023.

The Australian government’s objective is to strike a balance that ensures the integrity of the international education sector while addressing concerns related to housing and resources.

As the second-largest source country for international students in Australia, Indian students are likely to face challenges and potential financial burdens due to the increased savings requirement.

The impact of these changes on bilateral relations between India and Australia remains a subject of concern, with some experts cautioning that such measures could strain the relationship between the two countries.