By mid-2012, foreign students keen on an Australian university degree will have access to a new, fast-track visa system. In an effort to curb the downturn of overseas student enrollment and to restore its competitive position in the international education sector, the Australian government acted on a remarkably frank report on Australia's education export industry by former NSW politician Michael Knight.

Photo by: Credits, mrdarkroom(Flickr)

Under the Knight reforms, broadly adopted by the government, students wanting to study for a bachelor's or higher qualification at university will find it easier and quicker to get a visa, regardless of which country they are from.

Students from so called ‘high-risk’ countries such as India and China will no longer have to show USD 75,000-plus in a bank account to prove they can cover fees and living costs for 24 months. Instead, they will have to simply provide evidence of funds for 18 months through savings and deposits to show that they will be able support themselves.

Through the new reforms, the government plans to give university graduates in Bachelor, Masters and PhD courses access to a post-study work visa that will allow them to work in Australia for up to four years after course completion depending on the level of study.Vocational education students will not be eligible for the work visa.

To qualify for the new work visa, the applicant must:

• Hold a student visa granted under the new "genuine temp stay" system to be introduced in November 2011

• Have completed two years of study in Australia in the last 6 months

• Obtain a minimum of six in each of the four components of the IELTS test of English language ability

This new visa is planned to apply irrespective of the field of study and would not be tied to working in any particular occupation. If students want to stay for good, they still have to satisfy stricter rules for skilled migration, which are much less generous to on-shore foreign students with low-value skills.

Other changes that will affect Australian Student Visas include:

• Allowing all English language students to apply for a visa without first meeting minimum English skills requirements

• Extending the time a PhD student can stay in Australia while their thesis is marked

The Department of Immigration and Citizenship fact sheet on the reforms says: "Student visa applicants would still need to satisfy universities that they have the financial, educational and English language ability needed to complete their specific university course."