Not immune, they can't get new international students...

Not immune, they can't get new international students without visa approvals. But both EDU and NXD commentary suggests they're better placed than many because they provide training in real areas of need. So unless the government of the day wants to create even more shortages in aged care and community services (or some unemployed bankers change career) there needs to be some external supply.

EDU seems to be coping well at present but any sort of "hard" visa cap has to have an impact at some point given they rely heavily on international students. I get my migration stats from the ABS website which has shown only a modest reduction from last year so major impact of recent announcements presumably still to come.

Note: I wouldn't be relying on any comments you read on here for your investment decisions. I personally consider EDU highly speculative in the current environment. The next report might lead to a rerate but there's a serious chance that knee jerk government policy may eliminate their business model entirely. Common sense seemingly doesn't apply when politics are involved.