Australia is raising financial requirements for student visa applications to close a loophole that allowed some students to misuse their visas for work instead of study. 

Starting October 1, 2023, international student visa applicants must show savings of $24,505, an increase of 17% from the previous requirements. This financial requirement applies to the primary student applicant; dependents must also meet the visa requirements. The aim is to ensure students can support themselves during their studies, reducing the need for urgent employment and potential exploitation.To prevent fraud, the Australian government will conduct additional scrutiny and may request extra documents during the application process.

The government is committed to maintaining the quality of international education, as it’s Australia’s fourth-largest export. 

We hope this information is helpful for those planning to obtain a student visa to study in Australia.