The reporter had gone to two migration agents posing as someone wanting to pass an English language test without having the skills and told them that she was willing to buy fake work certificates.
She learnt she could do both if she paid between $3,000 and $5,000.
There have also been at least 19 incidents of attacks on Indian students or their property in Australia since May 9. The attacks, in Melbourne and Sydney, have caused an uproar in India.
There are about 90,000 Indians studying in Australia.
The student victims have said the incidents seemed racially motivated.
The Four Corners programme exposed 'a number of cases where students (coming to Australia) have lost tens of thousands of dollars', ABC Online said.
The programme highlighted the plight of Indian students and also revealed unscrupulous practices by migration and education agents.
The ABC investigation followed the spate of attacks on Indian students, which also prompted the students to take out rallies to protest the muggings and assaults on them.
Authorities said Indians were the victims of crime because they were more likely than others to be travelling late at night on public transport.
Australia has pulled in many Indian students with its offer of permanent residency for those who gain diplomas in vocational subjects.
But then, due to the economic downturn, the government in December made it more difficult for those with vocational qualifications to become permanent residents.