Financial requirements for student visas

The Department of Home Affairs (DOHA) has released updated requirements concerning evidencing of financial capacity for those wishing to apply to study in Australia on a student visa or travel to Australia as a student guardian.

 

Subject to the course studied as well as applicant’s nationality it is expected that an applicant will be able at the time of applicant evidence travel expenses and living costs of 20,290 AUD per annum or a pro rata amount for stay of less than 12 months.

 

Those wishing to study in Australia can include their immediate family members on the application.  In such scenario, a student visa application will need to be accompanied by additional evidence of funds of 7,100 AUD for a spouse or a de facto partner and 3,400 AUD per child for stay of 12 months or pro rata amount for stay of less than 12 months.  Where a child or a dependent is of a schooling age, additional 8,000 AUD will need to be evidenced to cover the school fees.

 

To evidence financial capacity an applicant will need to produce as part of their application the following:

 

  • Official government documentation of personal income that has been issued in the last 12 months immediately before the application is made; and

  • Demonstrating that the primary applicant’s parent spouse or a de facto partner has personal annual income of at least 70,000 AUD (if there is a dependent included on the application) or 60,000 AUD if there is no dependent included on the application

 

Dependent applicants lodging a separate application for a dependent student visa will also be subject to the above financial assessment as well as accompanying supporting documentation as evidence.

 

Those applicants wishing to apply for a Student (Subclass 500) or Student Guardian (Subclass 590) visas can evidence financial capacity via the following additional means:

 

  • Loan with financial institution

  • Government loans

  • Scholarship or financial support

  • Money deposit with financial institution

 

The above requirements were updated on 1 February 2018.

 

SCA Connect can assist you in navigating through the complex framework that is Australian Immigration.  To get in touch with one of our consultants click here.

 

 

Disclaimer: The information provided herein is of a general nature only and does not constitute immigration advice. For more detailed and case specific information or advice, please contact SCA Connect.

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