Frequently Asked Questions (FAQ) – Student Visas
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Financial Requirements
1. Who can provide funds to assist me meet the financial requirements for a student visa?
For Assessment Level 3 applicants, any individual can provide funds to enable you to study in Australia. Evidence of their income and savings will be required.
2. How much money do I need to show for a student visa application?
These amounts are the minimum required (in Australian Dollars):
Applicant Travel: AUD 2,000 per person
Family members Travel: AUD 2,000 per person
Applicant Tuition: Course fees
Children aged 5-18 Tuition: AUD 8,000 per year
Applicant Living Expenses: AUD 12,000 per year
Spouse Living Expenses: AUD 4,200 per year
First child Living Expenses: AUD 2,400 per year
Each other child Living Expenses: AUD 1,800 per year
** Living expenses are calculated for the entire visa validity period and not based on the length of the course.
Funds for travel must still be demonstrated even if you have already purchased plane tickets.
You must declare your spouse and children on your visa application, regardless of whether they will be accompanying you to Australia. Travel costs will only be calculated for those family members intending to travel.
Depending on the Assessment Level you are subjected to, you may be required to show that you have held the full amount of required funds for the full 3 months prior to lodging your application.
Please note that there are different financial requirements for fully funded students. See www.immi.gov.au/students for further information.
3. If I obtained a student bank loan, at what stage do I need to get the money from the bank?
When you lodge your application you will need to provide a letter from the bank. The bank must be a major bank that is governed by the central bank. The letter must state that you have been considered for a student loan. It should also state the amount you will be loaned.
The loan does not have to be under the applicant’s name. Any individual who is intending to provide funds for the applicant studies may also show evidence of a loan.
4. Do I have to provide evidence that I have held the full amount of required funds for the entire three months prior to lodging the application?
Yes. If you are considered against Assessment Level 3, you are required to provide evidence that you have held the full amount of required funds for the entire three months prior to lodging the application. If the amount of funds you hold drops below the required amount at any time during the three months prior to lodging your application, you will not meet the requirements.
Non-acceptable sources of funds cannot be counted. For example, property and shares are not acceptable. Money must be available for use on demand. Therefore, term deposits are not considered to be an acceptable source of funds. For further information, see: 2. Checklist – Financial Capacity.
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