Are your students financially ready to study in Europe?
To help students with their financial preparedness and manage their expenditures wisely, we bring you a brief guide on the living expenses based on their preferred destination.
Rise of international student population in Australia
In the past few months, Australia’s international student body has been rapidly growing. According to Times Higher Education, its “mercurial international education industry has put the pandemic behind it, enticing more foreigners into the country than at any other time in its history. … [A]lmost 655,000 people were in Australia on temporary student visas at the end of July, up from 569,000 just a month earlier.”
The closure of Australia’s Pandemic Event visa
As of 2 September 2023, a new measure has taken effect where applications for the Pandemic Event visa are only open to existing visa holders. This means that Pandemic Event visa holders will be able to apply for a subsequent Pandemic Event visa after 2 September 2023, providing leeway for preparations and adjustments, until the visa is completely closed for everyone in February 2024.
Updates in the Australian student visa application process
It’s safe to say that an Australian student visa is one of the most coveted visas in the world. As a major study destination for international students from all over the globe, Australia has had its student visa application process discussed widely among various groups. Along with the application to the school of their choice, the student visa application is a very important step for any student wanting to pursue studies abroad.
GSP Café’s successful first regional session in Latin America
This month, we are proud to have launched our sixth session of GSP Café! GSP Café is an interactive discussion led by education industry leaders aimed to share valuable insights from GSP’s study destinations to shed light and share knowledge and insights through lively, engaging and meaningful conversations. After much anticipation, we’re back to hosting exciting discussions tailored to provide insights to GSP’s diverse source markets, starting with Latin America.
Exponential growth of international students in Canada causes growing housing demands
While the heightened interest in Canada as a study destination is great, the unexpected increase in the international student pool has directly and significantly affected the country’s housing market. The influx of international students coming into the country has caused the demand for accommodation to exceed way past the existing supply.
US visas issued for international students exceed pre-pandemic figures
Due to the COVID-19 pandemic, international education was of course gravely affected. Numbers in the US dropped, but have since been on an upward slope since borders reopened. 2022 brought the largest number of enrolments since 2019. According to Boundless, “In 2022, there were 1,362,157 active F-1* and M-1* students living in the [US], an increase of 10% from the previous year, and a clear sign that international student enrollment is bouncing back to pre-pandemic levels.”
London tops as best student city four years in a row
In the four years that QS has published this list, London has continuously secured its position at number one. “This year’s ranking is once again topped by London. Home to several leading universities, including UCL (University College London), Imperial College London, and King’s College London, the city has been a student favourite for years and has plenty of world-class academic institutions for students to choose from”, says QS about London bagging the top spot once again for the latest rankings.
Ireland’s economy and opportunities attract more international students
Despite the challenges of the pandemic, Ireland has emerged with the fastest-growing economy in Europe. According to IBIS World, Irish GDP still grew at a nominal rate in 2020 despite the massive disruption to economic activity caused by COVID-19. A significant growth in GSP followed in 2021 where it doubled from 6.2% to 13.6%, making Ireland the fastest-growing economy in the EU.
Diverse preference of students studying in the UK
An interesting finding from Prospects Luminate’s Early Careers Survey 2023 shows that managing finances overtook mental wellbeing as the main issue faced by young people in the past year. More than half of participants (52%) said ‘Money’ was the biggest challenge of the last year, followed by ‘Balancing commitments’ (51%), ‘Taking care of my mental health’ (50%), and ‘Keeping motivated’ (48%) – these four held a clear lead over other concerns.