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Budgeting Tips for Studying in Australia: Saving Money as a Student
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The number of aspirants who choose Australia to pursue their higher education is increasing every year. The nation becomes one of the top choices among candidates to complete the degree. For such scholars, it is necessary to know the changes made by the Australian government for International students. It is because the nation wants to ensure the financial stability of scholars. The decision will affect many learners who desire to pursue a degree from this country. Such students soon need to save more money to study in Australia.
If you want to study in Australia, it can be valuable to know the recent changes in finances made by their government for International students. In order to get knowledge of this, read the below section.
Changes for Savings Make by the Australian Government
Australian government making changes to international student Visa rules. From 1 October 2023, foreign scholars will have to show a minimum savings of 24,505 $ to get student Visa clearance. It is a 17% increment in the saving cost from the past. Also, this modification is for the first time after the year 2019. The change marks to match up with the current economic conditions. Apart from this, the Australian government also close the previous dual study Visa loophole due to the misuse by foreign scholars. This rule gives a chance to students to do work from the arrival period of six months.
The dual study visa program is known as a concurrent study function. Australia has witnessed an immense hike of aspirants in the first half of 2023. The number of scholars reached more than 17,000. Thus, the Australian government closes this loophole.
Reasons Why the Australian Government Is Changing the Saving Amount?
The Australian government recently changed the rules for international students of saving amount. It is crucial for aspirants who desire to pursue their careers in this nation to know about this. Such things will be helpful for them to prepare adequately. If you are also one of them, read the below reasons to resolve your doubts.
Reduce the Immediate Job Seeking
In Australia, the number of international students has a quick hike in the first half of 2023. One of the prime reasons behind the increase in numbers is the dual study visa, which allows learners to get access to start work within 6 months of their arrival. This concern gets into the consideration of the government. Thus, they make this change to reduce the immediate job seeking.
Maintain the Global Standard of Study
Another reason for making this change by Australia is to maintain the global standard of study. It is because most foreign scholars register for multiple full time and short term courses. Thus, this minimum requirement in savings will change this.
Keep the Trust of International Students
One of the most vital things of the change made by the Australian government is to ensure quality education. The nation is known for providing the best experts for learning. It is why this sector plays a crucial role in the economy of this country. So, the decision can be fruitful in keeping the trust of international students to pursue their careers in Australia.
These are some reasons why the Australian government is making the changes for the coming sessions. It impacts international students to save more money to study in Australia. So, it is crucial for scholars to keep up to date information before making the final decision. Doing this can help to ease the journey to pursue a degree from the desired country.
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