NextEd Group's Response to Federal Government's Proposed International Student Commencement Limits

NextEd Group Limited (ASX:NXD) has responded to the Federal Government's proposed introduction of international student visa holder commencement limits. The proposed annual National Planning Level (NPL) aims to establish an overall limit on the total number of new international student commencements into vocational and higher education courses in Australia commencing from 1 January 2025. The proposed NPL has been set at 270,000 international student commencements for 2025, with 175,000 allocated to the higher education sector and 95,000 to the vocational sector. NextEd's proposed higher education cap represents a 42% reduction on its international student commencements in 2023, while the proposed vocational cap represents a 45% reduction on its 2023 commencements.

Executive Commentary on Proposed International Student Commencement Limits

NextEd is committed to managing the impact of the proposed international student commencement limits. We are actively engaging with the Department of Employment and Workplace Relations to understand the implications and are focused on prudent operational and financial management. Our priority is to grow revenues from domestic students and actively manage the cost base. We will continue to monitor the situation closely and provide updates when appropriate.

Summary of NextEd Group's Response

NextEd Group Limited (ASX:NXD) has responded to the Federal Government's proposed introduction of international student visa holder commencement limits. The proposed annual National Planning Level (NPL) aims to establish an overall limit on the total number of new international student commencements into vocational and higher education courses in Australia commencing from 1 January 2025. The proposed NPL has been set at 270,000 international student commencements for 2025, with 175,000 allocated to the higher education sector and 95,000 to the vocational sector. NextEd's proposed higher education cap represents a 42% reduction on its international student commencements in 2023, while the proposed vocational cap represents a 45% reduction on its 2023 commencements. NextEd is committed to managing the impact of the proposed limits through prudent operational and financial management, prioritizing revenue growth from domestic students, and actively managing the cost base. The company will continue to monitor the situation closely and provide updates when appropriate.