Academic English

📌 Financial Requirements: Subclass 500 Student Visa

To be granted a student visa, you must demonstrate you have sufficient funds to cover your travel, study, and living costs while in Australia. This ensures that you can focus on your education without relying on work or encountering financial hardship.

💰 Option 1: Annual Income Requirement

As an alternative to showing evidence of personal savings, you may demonstrate that your parents or partner had a personal annual income of:

• AUD87,856 for single applicants

• AUD102,500 if you are including family members in your visa application

This income must have been earned in the 12 months immediately before you submit your visa application.

Accepted evidence:

• Official government-issued tax assessment notices issued within the last 12 months
  (Bank statements or letters from employers are not accepted.)

If both parents are employed, their combined income may be considered.

💡 Option 2: Evidence of Sufficient Funds

You must demonstrate that you have enough money to cover the following minimum expenses:

✔ Travel Expenses

• AUD2,000 if applying from outside Australia (most regions)

• AUD2,500 if applying from East/Southern Africa

• AUD3,000 if applying from West Africa

• AUD1,000 if applying within Australia

• Add AUD1,500 if planning to return to Africa

✔ Course Fees

• Use the first 12 months of your tuition fees

• If your course is less than 12 months, use the total course fee

• Deduct any amount already paid (attach receipts or Confirmation of Enrolment as proof)

Example:

• Course cost: AUD20,000 for 18 months
  12-month equivalent: (20,000 ÷ 18) × 12 = AUD13,333

✔ Living Costs (12-month estimate)

• Student: AUD29,710

• Partner: AUD10,394

• Child: AUD4,449

To calculate pro rata living costs (if staying less than 12 months):
(Annual cost ÷ 365) × Number of days of intended stay

✔ Schooling Costs (Per Child)

• Minimum: AUD13,502 per year, per school-age child

• Actual fees may vary based on the school and state

• You must provide evidence of enrolment

Exemptions:

• PhD students whose children attend fee-waived government schools

• Students on Australian Government scholarships (including DFAT or Defence-sponsored)

🧾 Acceptable Forms of Financial Evidence

• Deposits in a recognised financial institution

• Government loans or institutional education loans

• Scholarships or financial sponsorship

If relying on a loan, provide:

• Terms of the loan

• Evidence of disbursement (preferred)

• Security or collateral used

• Confirmation that funds are sufficient for ongoing costs

If another person is supporting you, provide:

• Proof of your relationship

• Their identity documents

• Details of any prior financial support they provided (to you or other students)

If funds are tied to a business, include:

• Business registration

• Proof of current operation (e.g., financial statements or tax documents)

👨‍👩‍👧 Family Members Joining Later (Subsequent Entrants)

Any family member applying later must demonstrate financial capacity for:

• Remaining tuition and schooling fees

• 12-month (or pro rata) living costs

• Travel costs

🔐 Genuine Access to Funds

Simply showing funds is not sufficient. You must also show that you have genuine access to those funds.

Examples:

• Explain the source of any large deposits

• Provide loan disbursement letters (not just loan approvals)

• If someone else is providing the funds, explain their ability and willingness to support you

📎 Summary Checklist

For full details, refer to the official Department of Home Affairs – Subclass 500 Visa Guide.