What Are the Key Changes in 2024 for Student Visas and Temporary Graduate Visas?

In this article, Today, we've got some very important updates for those planning to study in Australia or accompany someone as a Student Guardian. Starting from 10 May 2024, there will be significant changes in the financial requirements needed to secure your student visa. Let's dive into what these changes are and how they will affect you.

From the 10th of May, 2024, the Australian Government is increasing the financial capacity requirements for student visa applicants. This change aims to better reflect the cost of living and ensure students can support themselves financially during their studies in Australia.

The new requirements will align with 75 percent of the national minimum wage. This adjustment accounts for the fact that students typically spend about 25 percent of the year out of session, during which they might travel home or work without restrictions. By meeting these updated financial standards, international students will be better positioned to manage their expenses without facing financial distress, avoid breaching visa work limits, and reduce their vulnerability to unfair work practices.

Let’s take a look at the specifics. Here’s a table showing the current and new required funds. For the primary applicant, the amount increases from AUD 24,505 to AUD 29,710. If you have a spouse or de facto partner, you’ll need to show from AUD 8,574 up to AUD 10,394. And for each dependent child, the amount goes up from AUD 3,670 to AUD 4,449.

For school costs, you’ll now need AUD 13,502, up from AUD 9,661. Personal annual income requirements have also changed. Without a family member, you’ll need AUD 87,856, up from AUD 72,465. With a family member, it’s now AUD 102,500, up from AUD 84,543.

The Department will assess applications lodged before 10 May 2024 under the financial capacity requirements in effect at the time of application.

485 Visa

The Australian Government has announced several changes to the Temporary Graduate (Sc 485) visa, effective from 1 July 2024, pending legislative amendments. Here are the details:

Graduate Work Stream Changes:

• The stream is renamed to the Post-Vocational Education Work Stream.
• The maximum eligible age will be reduced to 35 years or under, except for Hong Kong and British National Overseas passport holders, who remain eligible until the age of 50.
• Eligibility now requires holding an associate degree, diploma, or trade qualification closely related to a nominated occupation on the Medium and Long-term Strategic Skills List (MLTSSL). Degree-level qualifications or higher will no longer qualify.
• The stay period remains up to 18 months, but Hong Kong and British National Overseas passport holders may stay for up to 5 years.

Post-Study Work Stream Changes:

• Renamed to the Post-Higher Education Work Stream.
• The maximum age for eligibility is also reduced to 35 years. The exception for Hong Kong and British National Overseas passport holders under 50 years old continues.
• The 'select degree' 2-year extension option will cease.
• Revised stay periods are as follows:
• Bachelor degree (including honours): up to 2 years.
• Masters (coursework and extended): up to 2 years.
• Masters (research) and doctoral degrees (PhD): up to 3 years.
• Extended periods for Hong Kong and British National Overseas passport holders up to 5 years.
• Special provisions for Indian nationals under the AI-ECTA:
• Bachelor degree (including honours): up to 2 years.
• Bachelor degree (with first class honours in STEM, including ICT): up to 3 years.
• Masters (coursework, extended, and research): up to 3 years.

Second Post-Study Work Stream Changes:

• Renamed to Second Post-Higher Education Work Stream.
• No further changes to this stream

Replacement Stream:

• This stream will be discontinued and no longer available.

TOEFL iBT Now Accepted for All Australian Visas

The Department has reapproved the Test of English as a Foreign Language (TOEFL iBT) as an English test which they accept for Australian visa and migration purposes. TOEFL iBT tests taken from 5 May 2024 are now valid as an English test for Australian visa and migration purposes. Members are advised that TOEFL iBT tests that were completed between 26 July 2023 and 4 May 2024 will not be accepted for Australian visa and migration purposes as during this period, the TOEFL iBT test being offered was not an approved test. However, tests taken before July 26th, 2023, remain valid for two years. Please note that TOEFL iBT must be taken at a secure test center as the Department does not currently accept any English-language tests that are taken online for Australian visa and migration purposes.

If you have any questions regarding Student Visa or a 485 Visa please get in touch with us.

Disclaimer:

The information shared by Nationwide Migration and Education on social media and blogs is for general informational purposes only. (The information is accurate at the time of publication but may be subject to change.) It is not legal or immigration advice and should not be relied upon as such.

If you need immigration advice specific to your circumstances,?please book a consultation with our Registered Migration Agent.