As per the new rules for Australia student visa 2023, Australian student visa applicants must save more money because they need to show savings of $24,505 from October 1, 2023, which is a 17% increase from the requirement stated by the "federal Government”. 

As per the Australian Bureau of Statistics- there was a total of 131,640 international students arrived in the country in July 2023. There is an increase of 60,420 students from last year and it has not been updated since 2019. This needs to increase because of the high living expenses in Australia.

This Australia student visa update 2023 will make it easier for students who want to study in Australia to pay their expenses, look for part-time jobs, and avoid a higher chance of exploitation.

The Australian government will now tighten the Australian student visa rules and will ask for additional documents to prevent fraud in the applications.

Another major reason for the 17 percent increase is to ensure that students don’t look for jobs immediately after joining a course in Australia.

What are the Major Changes in the Australian visa rules?

Reportedly, Clare O'Neil, Australia's Minister for Home Affairs, has stated that the recent increase in study visa Australia aims to prevent students from entering the workforce.

In February of this year, the Australian government implemented new regulations for student visa holders, limiting their work hours to 48 per fortnight starting from July 1st, 2023. These restrictions were lifted during the Covid period. 

To combat fraud in visa applications, stricter scrutiny will be applied to high-risk international students. Additionally, the government is developing regulations that would allow for a student's suspension if there are discrepancies found in their paperwork.

Rules for High-risk providers

Under section 97 of the Education Services for Overseas Students (ESOS) Act, high-risk education providers will receive suspension certificates. As a consequence, these providers will no longer have the ability to enroll international students. 

This year, several Australian universities implemented restrictions on students from India and other South Asian countries due to a significant increase in fraudulent applications.

What are the Financial Requirements?

In order to obtain a student visa for Australia, you must fulfill a set of requirements. Students need to provide evidence of sufficient funds to cover expenses for travel, tuition fees, and living expenses throughout the stay. This measure aims to minimize the likelihood of encountering financial hardships while pursuing studies.

What are the Updates to the financial capacity requirement?
 

The financial capacity requirement has remained unchanged since 2019 as a result of the influence of COVID-19. Before 2019, the requirement was updated annually. The revised requirement will be implemented on October 1st, 2023.

Also, there will be an updated amount if you intend to bring your spouse or family. 

If you submit a new application on or after October 1, 2023, you will need to provide evidence of these updated figures If you apply prior to October 1, 2023, the revised financial capacity requirements will not be applicable..

The minimum amount required for the visa represents the financial capacity requirement. It's important to note that actual living costs in Australia may vary and exceed the amount needed for the visa.

Australia student visa for international students are showing a growing preference for concurrent enrolments, allowing them to register for multiple courses at the same time. These changes in student Australia student visa requirements and work access regulations reflect the government's dedication to creating a balanced and sustainable environment.