MALAYSIANS who wish to study in Australia are required to provide evidence of at least A$29,710 (RM100,000) in savings to obtain a student visa, New Straits Times reports.

This is the second hike imposed by Australia in seven months for foreign students.

This affects about 15,000 Malaysians who are studying or intending to pursue their studies in Australia.

The Australian student visa was raised from A$21,041 to A$24,505 in October.

Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir said Malaysia will discuss the raise with the Australian government.

“We will hold discussions as soon as possible to understand the policy of that country,” he told Utusan Malaysia.

Zambry said the Home Ministry is also involved in the matter of student visas.

International education is among Australia’s largest export sectors, contributing A$36.4 billion (RM112.47 billion) to its economy in 2022/23.

An influx of migrants has put significant pressure on the country’s property market and caused rent to soar.

Immigration in Australia grew 60% to 548,800 between 2022 and September last year.

The Australian government expects to halve this number in these next two years. – May 10, 2024.