Australia to Offer $11 Million for Indian Students under Maitri Scholars Program

Every year Australia hosts thousands of Indian students who wish to pursue higher education. Australia is certainly among the top choices for Indian students. The universities in Australia offer world-class education, and it is the reason why international students prefer it for higher education. The quality of education is certainly the best in class but it comes at a cost, and it is pretty high for Indian students. The high tuition fee and cost of living is big barrier for Indian students. Even when you take an abroad education loan, scholarships help in reducing the financial burden. A scholarship also enhances the chances of getting an abroad education loan from banks and NBFCs. 

The Australian Foreign Minister Marise Payne has recently announced the ‘Maitri Scholars Program’. The Australian government will give a whopping $11 million under this scheme which will help meritorious Indian students to realize their dream of pursuing higher education from a world-class institution. The scholarship will enable students from financially humble backgrounds to finance their cost of education in Australia. India and Australia are members of the recently formed QUAD. India and Australia have also elevated their partnership to a Comprehensive Strategic Partnership. 

In the joint press conference, the foreign ministers from both countries were present when the scholarship was announced. The move is aimed to strengthen India-Australia ties by infusing the elements of culture, economy and education. The move will help Indian students in getting easy access to scholarships under the ‘Maitri Scholars Program’. The Australian Foreign Minister announced that their government will sanction $11 million to enable Indian students to pursue quality education without worrying about the high cost of education. The announcement was part of a series of announcements that were made by different ministries in Australia to bolster the ties between the two countries. 

The sum of $11 million will be provided by the Australian government over four years to help Indian students in bridging the monetary gap between their affordability and the cost of education. The scheme will also help India and Australia in strengthening their strategic ties by allowing mid-career professionals from both countries to interact for research purposes. It will also allow the Indian talent pool to take advantage of Australia’s tech capabilities for research collaborations in common areas of interest for both countries. The Australian government has allotted $3.5 million for strategic initiatives between professionals. 

Australian Foreign Minister Marise Payne also announced that out of the total scholarship budget, $6 million will be spent on cultural exchanges. The cultural exchanges will help creative industries in both countries to interact, and use each other’s expertise in their respective fields. The minister also laid emphasis on the deep ties between Australia and India with respect to trade and investment. The minister underscored the importance of joint collaborations in scientific research in the midst of the COVID-19 pandemic. The pandemic highlighted the flaws in our systems which can only be corrected by more proactive research collaborations between the talent pool of the two countries.