Last 05 November 2011, Australia has reduced the financial requirement for Australian student visa applicants who are under Assessment Levels 3 and 4. Such change was the Australian government’s answer to the Knight review and recommendations.
The change
During Australian student visa applications, every student is examined based on their immigration risk or the likelihood of violating their visa’s provisions and protocol. This explains the existence of the so-called “assessment levels.” The lower the assessment level, the lower is the immigration risk and vice versa. Those who are categorized under high assessment levels need to present more evidence of their financial capabilities
However, the Knight Review stated that such requirement has prevented the entry of genuine students. Some have even resorted to data fabrication and manipulation just to ensure an approval.
In response to this, the Australian government shortened the timeframe in which a student must demonstrate proof of sufficient financial resources. For example, applicants who are under Assessment level 4 must demonstrate that they have enough funds for 24 months or 2 years, whereas before, they were asked to show funds that could support their stay for 36 months or 3 years.
Aside from that their “savings history” was also lowered. From 6 months, it was shortened to 3 months.
Meanwhile, the proof of financial resources for students under Assessment level was trimmed down 18 months or a year and half. This is 6 months shorter than the previous requirement, which is 24 months.
Based from the said reductions, Assessment level 4 applicants are expected to save a total of AUD36,000. In the meantime, those that are under Assessment level 3 are expected to cut down their expenses to AUD18,000.
Affected visa subclass
Upon its implementation, Australian student visa subclasses 570, 571, 572, 573, 574, 575 and 580.
The reduction will be observed in all applications filed on or before 05 November 2011.
Preventing fraudulent activities
Indeed, the said change spells good news to many applicants. But nevertheless, it also opens the gates for abuse. Thus, to prevent this, all international students must first satisfy the Genuine Temporary Entrant requirement before they are issued with a visa.
Source
“The VET, Schools and Non-Awards Sectors” (2011). Department of Immigration and Citizenship. Retrieved 09 December 2011 from
http://www.immi.gov.au/students/_pdf/2011-vet-schools-non-award.pdf
“Visa Processing Improvements” 2011). Department of Immigration and Citizenship. Retrieved 09 December 2011 from
http://web.archive.org/web/20120715063307/http://www.immi.gov.au/students/_pdf/2011-visa-processing-improvements.pdf