Section

Killing the geese that lay the golden eggs

By Manila Times - 8 months ago

STUDYING abroad was fairly simple before the pandemic in any of the five DestiNations: Select the city in the state or province of the country where you intend to study; be admitted into the course with an authorized, accredited educational institution; and work while studying. Even the accompanying spouse/partner or dependent child may study and work.

While working or after graduation, these foreign students may pursue permanent residency options.

The simple formula was such a resounding success for both the students and the receiving country. International students, in essence, were the geese that lay the golden eggs.

Australia's 654,870 students until July 2023 laid $48 billion worth of golden eggs, which contributed to more than half of Australia's economic growth, according to National Australia Bank (NAB), one of the four largest financial institutions in Australia (colloquially referred to as The Big Four).

In Canada, the fine feathered foreign friends contributed CA$36 billion to the Canadian economy, based on the research from MPower Financing, the leading provider of no-cosigner loans to promising students from around the world, and estimates are projected to be CA$42 billion in 2024.

ApplyBoard confirmed over 1 million international students held a valid Canadian study permit in 2023, an increase of 29 percent over the previous year. ApplyBoard is the world's largest online platform for international student recruitment, assisting more than 800,000 students with their educational journeys.

Statistics Canada shows 683,585 international students in 2023 alone (students whose study permits became effective that year.

Further down, north of the 8,891 kilometer US-Canada border, golden eggs from more than 1 million students amounting to $40.1 billion were harvested and deposited into the US economy, according to a 2023 report from the National Association of Foreign Student Advisers (Nafsa), an association of international educators. The $40.1 billion during the 2022-2023 academic year was a 19 percent increase from the previous year.

Across the Atlantic pond, 62.1 miles from London Bridge, the Higher Education Policy Institute (HEPI) reported an increase in golden egg laying from the 679,970 overseas students studying at UK universities — £31.3 billion to £41.9 billion between 2018/2019 and 2021/2022. HEPI, an independent nonpartisan think tank, was established in 2002.

Furthermore, HEPI reported that "on average, each of the 650 parliamentary constituencies in the UK is £58 million better off because of international students — equivalent to approximately £560 per citizen, a huge net contributor to the UK economy.

ICEF Monitor issued a similar report: Post-study work policies enacted in 2021 helped add more than 600,000 international enrollments and over 60 billion euros to the UK economy between 2019/2020 and 2023/2024.

Finally, Education New Zealand, using NZ Statistics Department IDI data and CGE modeling, found that international students contributed in the order of $6 billion in the form of labor supply and productivity to New Zealand's GDP in both 2019 and 2022.

In 2020, Nafsa statistics show that altogether, over 6.3 million international students contributed $370 billion to the global economy. These students not only laid golden eggs but also created jobs, helped build billion-dollar companies, and invented processes that have changed the way fowl farmers live.

Require geese to bring more

Almost as one, the five DestiNations said they can no longer tolerate the millions of gaggles. While international students bring in billions of dollars in tuition and cost of study funds, the governments of Australia, Canada, the UK, and, in a less abrasive tone, the US and New Zealand, claim these foreign feathered friends are competing with shelter, causing a housing crisis and health care concerns.

In unison, the five DestiNations say they can live with fewer fowl — and these gaggles will still be as productive if they are required to bring their own feed and upkeep — starting with increased fund requirement.

In Australia, in July 2022, international students were required to provide evidence of funds amounting to AU$21,041. This was increased in 2023 to AU$24,505, a 17 percent increase.

New Zealand also increased the yearly cost of studies from NZ$15,000 to NZ$20,000.

In Canada, starting Jan. 1, 2024, international students will need to show they have at least $20,635 (previously $10,000) to cover their living expenses.

The United Kingdom has set a fixed amount of £1,334 per month, or part of a month, for up to nine months to cover living costs for international students applying for a UK student visa in 2024. The maximum amount for students pursuing a course outside of London is £1,023 per month. If dependents are brought in, an additional £845 per month will be charged to students pursuing a course in London, and £680 per month will be charged to students pursuing a course outside of London. The maximum amount you will need for your living costs is £12,006.

In the United States, depending on the institution, the funds/living expenses requirement may vary from $13,987 to $24,527, excluding tuition. The costs go up to $74,438 for undergraduate students attending a University California system member (Santa Barbara) (https://international.unt.edu/sites/default/files/FINAL%20I-20%20Expense%20Worksheet%202023-24.pdf)

Geese must speak English

In addition to the increased fees, Canada and Australia now require international students to provide evidence of human-speak (English proficiency).

In Australia, students taking undergraduate courses must provide the following scores to meet the minimum requirement at most universities:

– IELTS – overall score of 6.0 to 6.5 (no band less than 5.5 to 6.0)

– TOEFL (internet-based test) – overall score of 60 to 90

– CAE – overall score of 169 to 176 (no less than 169 in any category)

– PTE Academic – overall score of 50 to 64.

Canada streamlined its English proficiency requirements as well. Immigration, Refugee, Citizenship Canada (IRCC) began accepting test results from these four new tests on Aug. 10, 2023.

The scores for newly eligible tests in speaking, listening, reading and writing are:

– CELPIP General – equivalent to Canadian Language Benchmark of at least 7 in each of the four language speaking abilities.

– CAEL and Pearson PTE Academic test — a minimum score of 60.

– Educational Testing Service (ETS) TOEFL iBT test needs a minimum score of 83.

Prior to this change, IELTS General and IELTS Academic were the only tests approved by IRCC for SDS applicants.

Pathway from geese to personhood

New Zealand has radically changed the pathway to permanent residency, especially for those taking the student work to PR route.

After completion of studies, the student must work for at least two years before being eligible to apply for permanent residency. The previous 2021 resident visa closed at 23:59 on July 31, 2022.

In addition, the graduate-worker-PR applicant must have continuously held a resident visa for at least two years, which you either still hold or have held in the last three months, and provide evidence of commitment to live in New Zealand permanently. The previous Skilled Migrant Visa scheme through the Expression of Interest had been dropped.

Australian graduates may find the student-work-to-PR pathway faster and less complicated.

After meeting the two-year academic requirement, the student may apply for the 18-month temporary graduate visa provided he/she is under 50 years of age and has held a student visa in the last six months with a recent qualification in a Cricos-registered course.

Then, it's off to Australia's prioritized destination for intending PRs — regional Australia.

There are two skilled regional provisional visas available for skilled migrants and dependent family members who want to live and work in regional Australia.

1. Skilled work regional (provisional) visa (subclass 491) — for people nominated by a state or territory government or sponsored by an eligible family member to live and work in regional Australia.

2. Skilled employer sponsored regional (provisional) visa (subclass 494) — for people sponsored by an employer in regional Australia.

After three years of being in either of these regional visas, the intending may pursue the permanent residence (skilled regional) visa (subclass 191).

Canada, study to PR​​

The road to Canadian residency has newly built humps designed to slow down the PR journey.

First, the federal government set a 360,000-student visa admission limit (with increased funds requirement, of course). Provinces were required to trim their admission based on a population-student ratio. A designated learning institution in Canada would be given a set number of study permits to be issued through the provincial allocation letter (PAL) scenario.

A student must include the PAL with the study permit application with the Canadian Embassy.

Second limitation on open work permits. To qualify for an open work permit, the student must be studying for a specified master's, PhD or bachelor's degree.

When will the geese stop laying golden eggs for the fowl farmer-nation?

That's for next week.

Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.