📌 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:
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
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AUD2,000 if applying from outside Australia (most regions)
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AUD2,500 if applying from East/Southern Africa
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AUD3,000 if applying from West Africa
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AUD1,000 if applying within Australia
-
Add AUD1,500 if planning to return to Africa
✔ Course Fees
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Use the first 12 months of your tuition fees
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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:
✔ 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)
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Minimum: AUD13,502 per year, per school-age child
-
Actual fees may vary based on the school and state
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You must provide evidence of enrolment
Exemptions:
🧾 Acceptable Forms of Financial Evidence
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Deposits in a recognised financial institution
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Government loans or institutional education loans
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Scholarships or financial sponsorship
If relying on a loan, provide:
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Terms of the loan
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Evidence of disbursement (preferred)
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Security or collateral used
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Confirmation that funds are sufficient for ongoing costs
If another person is supporting you, provide:
If funds are tied to a business, include:
👨👩👧 Family Members Joining Later (Subsequent Entrants)
Any family member applying later must demonstrate financial capacity for:
🔐 Genuine Access to Funds
Simply showing funds is not sufficient. You must also show that you have genuine access to those funds.
Examples:
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Explain the source of any large deposits
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Provide loan disbursement letters (not just loan approvals)
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If someone else is providing the funds, explain their ability and willingness to support you
📎 Summary Checklist
| Requirement |
Amount (AUD) |
Notes |
| Travel (single applicant) |
$2,000–$3,000 |
Based on your location |
| Tuition fees (first 12 months) |
Varies |
Provide CoE or receipt |
| Living costs (student) |
$29,710 |
Add costs for dependents |
| Living costs (partner) |
$10,394 |
|
| Living costs (per child) |
$4,449 |
|
| Schooling (per child) |
$13,502 |
May vary by state/school |
For full details, refer to the official Department of Home Affairs – Subclass 500 Visa Guide.
