The Australian government has announced that there will be new changes to the Australian student visa rules, which will come into effect after 1 July 2012. The minimum funds that student visa applicants need are going to be increased from $18,000 to $18,610 per year.
The fund’s requirement exists because all of the applicants must be able to prove that they have enough money to support themselves while studying in Australia.
In December 2010, the Australian Department of Immigration and Citizenship began to make a strategic audit of the student visa program. The first recommendations for improvement of the student visa policies were delivered during November 2011. The Australian government started to implement the proposed changes from the beginning of 2012. All foreign prospective students must prove that they have enough money in order to be granted a student visa.
They may be required to provide evidence for sufficient funds to cover their expenses, for up to the first two years of their study depending on the assessment level that they are assigned with. All students are given different assessment level, according to their country of citizenship. The assessment levels denote the immigration risk posed by an applicant from a particular country. The higher the assessment level, the higher is the immigration risk.
Therefore applicants from countries with high assessment levels will be required to provide more evidence that they intend to study in Australia.
According to the classification of the Australian Department of Immigration and Citizenship, countries with lower assessment levels include for example UK, Ireland, Belgium, Netherlands etc. while countries with higher assessment levels are for instance China, Bangladesh, Sri Lanka etc.
Australian Department of Immigration and Citizenship has stated that the fund’s requirement will ensure that all foreign students will have stress-free and enjoyable experiences at the various Australian educational institutions and that they will be able to extract the maximal amount of value from their studies, without worrying about running out of money.