Welcome to this step-by-step guide on filling out your Statement of Assets and Savings Form as part of the Visa 500 application process. This voice-over will walk you through each section of the form, explaining what is required and offering helpful tips to ensure accuracy and completeness. Let’s get started.

Introduction to the Form

This form is designed to collect detailed information about your financial assets and savings. It is required for both Primary and Secondary Applicants and is crucial for demonstrating your ability to financially support your studies and stay in Australia. Here are a few preliminary guidelines:

• Fill out all sections in English.
• If a question does not apply to you, write "Not Applicable."
• For monetary fields where you have no value, enter "0."
• If you are under 18, this form must be completed by your parents or guardians.

Now, let’s go section by section.

Section 1: Primary Applicant Personal Details

This section collects personal information about the main applicant.

• Title, Given Names, and Family Name: Enter your full name exactly as it appears on your passport.
• Country of Passport: Specify the country that issued your passport.
• Telephone Number: Use the international format, starting with a "+" followed by the country code and your phone number (e.g., +123456789).
• Email Address: Provide an email you check regularly, as important correspondence may be sent to this address.

Section 2: Secondary Applicant Details

If you have a secondary applicant, such as a dependent or spouse, provide their details here. If not, skip to the next section.

• Name and Passport Details: Fill out the given names, family name, and passport number as listed on their passport.
• Date of Birth: Enter the day, month, and year of birth in the specified format.
• Country of Birth: Indicate their country of birth.

Section 3: Passport Details

This section is essential for verifying your identity and travel documents.

• Passport Details: Include full names, passport number, nationality, and country of issue.
• Dates: Provide the date of issue and expiry of the passport. Ensure your passport is valid for at least six months.
• Issuing Authority: Write the name of the authority that issued the passport (e.g., Australian Passport Office or Department of Foreign Affairs).

Section 4: Statement of Assets and Savings

This is the most detailed section of the form, where you’ll declare your financial assets. Let’s break it down:

Bank Accounts

• Bank Name(s): List all banks where you hold accounts.
• Current Balance: Combine the balances of all accounts and enter the total in AUD.

Other Financial Institution Accounts

• Fund Name: Provide the name of the financial institution, such as mutual funds or other accounts.
• Current Value: Enter the total value in AUD.

Cash Kept in Safe

• Include all cash in your possession, converted into AUD. Enter "0" if not applicable.

Real Estate

• Property Locations: Provide the address of any properties you own. You can include multiple properties in the same section.
• Property Type: Tick the appropriate box for residential, commercial, land, or special purpose properties.
• Market Value: Estimate the value of each property and provide a combined total in AUD.

Investments

• Company or Entity Name: Include details about any shares, bonds, or other investments you hold.
• Current Value: Enter the total value of these investments in AUD.

Other Assets

• List vehicles, personal items of significant value (e.g., jewelry, art), or other tangible assets.
• Provide an estimated value in AUD.

Scholarships and Stipends

• If applicable, enter the annual and total amounts of any scholarships or stipends you are receiving. Convert the amounts into AUD.

Total Estimated Value

• Add up all the values declared above and enter the total estimated value of your assets in AUD.

Section 5: Signature

• Signature of Primary and Secondary Applicants: Both applicants must sign the form to certify the accuracy of the information.
• Date: Enter the current date.
• Signatory Name: Provide the full name of the person signing the form.

Section 6: Upload Passport Scans

This section is crucial for verifying your identity.

• Upload a clear, high-quality scan of your passport in PDF format. Ensure the file size does not exceed 4 MB.
• The passport must include a holder’s signature that matches the signature on this form.

Section 7: Upload Supporting Documents

You must upload financial documents to substantiate the information provided in the form. Accepted documents include:

• Bank Statements: Show sufficient funds to cover tuition and living expenses.
• Proof of Scholarships or Grants: If applicable.
• Income Tax Returns or Pay Slips: For sponsors.
• Loan Approval Letters: From recognized financial institutions.
• Affidavit of Financial Support: If your education is funded by a third party.

Why Are Financial Documents Required?

The Australian Government mandates proof of financial capability to ensure students can cover tuition fees, living costs, and other expenses during their stay. This requirement demonstrates that you are financially prepared and reduces the risk of financial hardship.

Tips for a Successful Submission

1. Accuracy: Double-check all information for errors before submission.
2. Translation: Ensure any non-English documents are translated and certified.
3. File Size: Compress large files without compromising quality to meet upload limits.
4. Organization: Have all your documents ready to avoid last-minute delays.

Final Thoughts

Filling out the Statement of Assets and Savings Form can feel overwhelming, but taking it step-by-step ensures a smooth process. Remember, providing accurate and truthful information is essential for the success of your visa application. Good luck, and we hope this guide has made the process clearer and less daunting!

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Overseas Student Health Cover (OSHC) Cost Estimates for 54 Months (2025)

OSHC is a mandatory requirement for international students in Australia, ensuring access to essential healthcare services during their studies. For PhD students, who typically require coverage for 54 months (4.5 years), it is important to secure OSHC for the entire visa duration.

Estimated OSHC Costs for 54 Months (4.5 Years) by Provider

📌 Note: These rates are based on 2025 estimates and are subject to change. Always confirm the latest pricing with the OSHC provider or your education agent before purchasing.

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Important Considerations Before Buying OSHC

🔹 Policy Duration: OSHC must cover the full length of your student visa, including any additional time required by immigration rules.
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🔹 Coverage Details: Standard OSHC includes GP visits, hospital treatments, ambulance services, and limited pharmaceuticals. Additional coverage (dental, optical, physiotherapy) is available at extra cost.
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Comprehensive Guide on Scholarships, Stipends, and Overseas Student Health Cover (OSHC) in Australia (2025)

1. Introduction

Pursuing higher education in Australia offers numerous opportunities for international students, including access to world-class research facilities and academic programs. However, it's essential to understand the financial commitments involved, especially concerning scholarships, stipends, and mandatory health insurance requirements. This guide provides an updated overview for 2025, emphasizing the importance of planning for expenses not typically covered by scholarships, such as Overseas Student Health Cover (OSHC) and travel costs.

2. Scholarships and Stipends in Australia

Australia offers various scholarships to support international students:

A. Australian Government Scholarships

1. Australia Awards Scholarships

   • Description: Prestigious scholarships funded by the Department of Foreign Affairs and Trade (DFAT) for students from developing countries.

   • Benefits:

     • Full tuition fees.
     • Return air travel.
     • Establishment allowance.
     • Contribution to living expenses.
     • OSHC for the duration of the scholarship.

   • Note: Recipients are required to leave Australia for a minimum of two years after completing their scholarship.

2. Research Training Program (RTP) Scholarships

   • Description: Funded by the Australian Government to support both domestic and international students pursuing research degrees.

   • Benefits:

     • Tuition fee offset.
     • Stipend for general living costs (approximately AUD $33,511 per annum in 2025).
     • Allowances related to the research program.

   • Note: Some universities may offer additional top-up scholarships or benefits.

B. University-Specific Scholarships

Many Australian universities provide their own scholarships for international students. Examples include:

• University of Melbourne Graduate Research Scholarships

  • Benefits:

    • Full fee offset.
    • Stipend of AUD $37,000 per year.
    • OSHC Single Membership.
    • Relocation grant.

  • Note: Approximately 350 of these scholarships are awarded annually.

• University of Sydney International Scholarships

  • Benefits:

    • Tuition fee offset.
    • Stipend to assist with living costs.

  • Note: Highly competitive and awarded based on academic merit.

C. Industry and Research Council Scholarships

Some scholarships are funded by industry partners or research councils, often tied to specific research projects. These may include additional benefits such as:

• Top-up stipends.
• Research-related travel allowances.
• Opportunities for industry placements.

3. Overseas Student Health Cover (OSHC)

OSHC is a mandatory health insurance for international students in Australia, covering medical and hospital care costs during your stay. It's crucial to note that most scholarships do not cover OSHC, requiring students to arrange and fund this insurance independently.

OSHC Cost Estimates for 2025

• Single Student: Approximately AUD $593 per year.
• Couple (Student + Partner): Approximately AUD $4,569 per year.
• Family (Student, Partner, and Children): Approximately AUD $9,065 per year.

These estimates are based on rates from providers such as CBHS International Health and Allianz Care as of February 2025.

Important: Ensure that your OSHC policy covers the entire duration of your visa. Failure to maintain valid OSHC can lead to visa cancellation.

4. Additional Financial Considerations

Beyond tuition and OSHC, international students should budget for the following expenses:

• Visa Application Fee: The Subclass 500 Student Visa application fee is AUD $1,600 as of January 2025.

• Travel Costs: Including flights to and from Australia.

• Living Expenses: Accommodation, food, transportation, and personal expenses.

• Study Materials: Textbooks, equipment, and other course-related costs.

It's essential to have access to sufficient funds to cover these expenses to avoid complications during the visa application process.

5. Final Thoughts

While scholarships and stipends can significantly offset the cost of studying in Australia, they often do not cover all expenses. Proper financial planning is crucial to ensure you can meet all requirements, particularly for OSHC and other personal costs. Having access to additional funds will help prevent delays or issues in your application process.

For personalized assistance with your application, including guidance on scholarships, OSHC, and financial planning, consider consulting with an education agent or advisor familiar with the Australian education system.