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Australia raises minimum savings for student visa, warns on fake recruitment

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SYDNEY: Australia said it would raise the amount of savings international students will need to get a visa and warned several colleges of fraudulent student recruitment practices, as part of efforts to rein in record migration.

From May 10, international students must show proof of savings of at least A$29,710 to get their visa, the second increase in about seven months. It was raised to A$24,505 from A$21,041 in October.The moves follow a raft of actions in recent months to tighten the student visa rules as the lifting of Covid-19 restrictions in 2022 triggered a sudden influx of migrants, exacerbating pressure on an already tight rental market.

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But record migration, mostly driven by international students, has put the government under pressure with rental prices soaring across the country. Net immigration rose 60 per cent to a record 548,800 in the year to Sept. 30, 2023.The government expects its policies could halve Australia’s migrant intake over the next two years.

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