Updated Evidence of Financial Capacity for Student Visa
Updated Evidence of Financial Capacity for Student Visa
In a statement announcing the change, the Department of Home Affairs said that the financial capacity requirement has been updated to align with 75% of the national minimum wage. The new rule, effective May 10, mandates that international students must demonstrate proof of savings of at least AUD $29,710. This amount was recently increased from AUD $21,041 to AUD $24,505 in October 2023. In addition, the minimum required funds for meeting the financial capacity requirement will also increase for spouses or de facto partners of student applicants, from AUD $8,574 to AUD $10,394.
But for those applications submitted before May 10, the Department of Home Affairs confirmed that they will be assessed based on the financial capacity requirements in effect at the time of submission.
English requirement for Pacific Engagement Visa (PEV)
One key requirement of PEV is the English language test, which is notably focused solely on listening and speaking results. Writing and reading scores, as well as a minimum overall band score, are not required. Consequently, an applicant can score zero in these components and still be eligible for this visa. The required scores for listening and speaking are:
International English Language Testing System (IELTS): at least 5.0,
Cambridge English Advanced test (CAE): at least 154,
Occupational English Test (OET): at least a score of B,
Pearson Test of English Academic (PTE): at least 36,
Test of English as a Foreign Language internet‑based Test (TOEFL iBT), but only if the test was taken on or before 25 July 2023: at least 4 for listening, and at least 14 for speaking.
Points test system overhaul
The federal government has indicated its intention to revise the points-based assessment for skilled migrants, which dictates eligibility for entry into Australia, following a decision to decrease overall immigration levels.
In a report released in December evaluating Australia's migration system, recommendations were made to refine the points test criteria. Here are the key elements you need to remember:
The new points test system will prioritize traits linked with migrants who excel in securing skilled employment.
The new points test system will offer clearer guidelines and assurances for prospective migrants
Lastly, it aims to direct attention toward sectors facing skill shortages and acknowledge the potential of younger individuals.
In short, the new points test system will mainly revolve around the skills, sector of employment, and age of the applicant.
If you are having a hard time planning your pathway to Australia, the best thing to do is ask for assistance from certified migration experts. At Think Visa, we specialize in processing visas in these complex situations. By ensuring that all the essential documents, our team of skilled migration consultants can help you get through the process. Start your migration process with people you could trust.
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