Financial Requirements for a Student Visa

In order to meet the GS requirements, visa applicant needs to demonstrate that they must have sufficient financial capacity to cover their study and living expenses for their stay in Australia. This includes the accompanying family members while you are in Australia.

Minimum required funds to meet financial capacity requirements

The following table outlines the funds you need to demonstrate to meet the minimum financial requirement, effective from 10 May 2024. Please note this is the requirement when you lodge the visa application as your first-year financial capacity.

	Financial capacity requirement
Primary applicant	AUD29,714
Spouse or de facto partner of the primary visa applicant	AUD10,394
Dependent child	AUD4,449
Annual school costs	AUD13,502
Personal annual income if there is no member of the family	AUD86,856
Personal annual income where there is a member of the family unit	AUD102,500

Genuine access to funds

You and your accompanying family members must demonstrate that you will have genuine access to funds while you are in Australia.

Some of the examples of how you can demonstrate genuine funds include:

• Fixed term deposit under you or your family member’s names, such as parents, partner or sisters or brothers;
• If your funds is provided by another person or business, you need to show evidence of the relationship with you;
• You may also get an education loan as evidence of financials. In tis case, you need to provide loan agreement between you or your parents and the bank.
• Sometimes students’ parents may provide their bank statements showing there have been regular transactions or salary income as earnings.