Australia announces $10 million International Education fund

In addition to the existing support measures, the Australian government will now deliver $10m worth of initiatives to be funded under the International Education Innovation Fund, said Australia’s acting minister for Education and Youth, Stuart Robert. He added that these initiatives will support the international education sector to reach new markets, pilot innovative new products, and align educational opportunities with Australia’s identified skills shortages. 

The international education sector welcomed the move, as it aims to heal the wound caused due to the Covid-19 pandemic when international travel was closed, and students were confined to their homes for attending classes. The fund is a part of the Australian Government’s National Strategy 2021-2030. The $10 million funds aim to strengthen postdoctoral placements for the country’s best and brightest overseas students, explore the potential for diversification in the international education sector, and develop innovative multinational education offerings.

This move is also expected to strengthen Australia’s foreign policy, as it aims to reopen its border and welcome more people. Many international students and workers had lost hope and were frustrated due to the Australian government’s strict border regulation and blanket ban on international ban. Many international students also had to differ their program by a year or two due to the travel restrictions. Now the government is aiming to undo the effects of the pandemic by giving more incentives to international students to study and work in Australia. 

“International Education is extremely competitive and has to be in the course of the Covid-19 pandemic. Australia’s closed borders have seen a decline in Australia as a precedence vacation spot nation to our rivals’ profit,” said the Group of Eight chief govt, Vicki Thomson. The announcement of this fund recognizes this issue and aims to revive the international education sector back to pre-covid times. The move is also aimed at bringing in more students who can do skilled work and reside in Australia, as the country faces a labor crunch. Thus, the announcement of this fund will help not only the international education sector but all major sectors across the economy in the long run.