The Financial Requirement for a Student visa or Student Guardian visa is Increasing

As from 10 May 2024, the amount of money that Student and Student Guardian visa applicants (subclass 500 and 590) needed for a student visa or guardian visa application is increasing.

The financial capacity requirement has been updated to align with a proportion (75 per cent) of the national minimum wage. This will better indicate the amount of money considered reasonable to provide a minimum standard of living while studying in Australia.

International students who can show they meet this new financial capacity requirement are better able to make informed decisions about their future.

The following table shows the new requirement of the change.

Minimum required funds to meet financial capacity requirements

	Financial capacity requirement before 10 May 2024	Financial capacity requirement after 10​​ May 2024
Primary applicant	AUD24,505	AUD29,710
Spouse or de facto partner of the Student primary applicant (not applicable to Student Guardian applicant)	AUD8,574	AUD10,394
One dependent child	AUD3,670	AUD4,449
Annual school costs for a dependent child	AUD9,661	AUD13,502
Personal annual income if there is no member of the family	AUD72,465	AUD87,856
Personal annual income where there is a member of the family unit	AUD84,543	AUD102,500