One of the important requirements of a successful student visa application is proof that you have enough money to pay for travel, tuition and living expenses for yourself, your spouse and your dependent children for the period of your stay in Australia.  These financial requirements vary depending on the Assessment level of your country of origin. We have prepared a short characteristic of every assessment level with regards to the financial requirements.

One of the important requirements of a successful student visa application is proof that you have enough money to pay for travel, tuition and living expenses for yourself, your spouse and your dependent children for the period of your stay in Australia.  These financial requirements vary depending on the Assessment level of your country of origin. We have prepared a short characteristic of every assessment level with regards to the financial requirements.

Travel, tution and living expenses

You must have enough money to pay for travel, tuition and living expenses for yourself, your partner and your dependent children for the duration of your stay in Australia. You must:
Show proof that you can meet these financial requirements for the first 24 months of your stay in Australia.
Note: If you have completed 75 percent of your course and are applying to renew your student visa, you do not need to show your savings history. Declare on your application that
you can meet these financial requirements for the remainder of your stay in Australia.
The table above outlines the amounts in Australian dollars (AUD) that you need access to. These amounts are the minimum required for this visa. They do not necessarily represent the
cost of living in Australia.
The department must be satisfied that an applicant, once in Australia, will have genuine access to the funds they claim to possess to cover the travel, tuition and living costs for themselves
and their family members.

Acceptable sources of income

The money to support you and your family members must come from one or more acceptable sources, which may include:
• A money deposit with a financial institution held by you, or a person supporting you, for at least three consecutive months immediately before the date of your visa application.
• A loan from a financial institution made to you or a person supporting you.
• A loan from your government.
• Your proposed education provider.
• The Australian Government or an Australian State or Territory government.
• The government of a foreign country.
• A provincial or state government of a foreign country that has the written support of the national government of the foreign country.
• An organisation gazetted by the Minister.
• An acceptable non-profit organisation.
• A multilateral agency.
Examples: United Nations, World Bank or Asian Development Bank
Note: Non-cash assets such as property and shares are not acceptable sources of income. However, non-cash assets may be liquidated or used as collateral on a loan,
if they are provided by an acceptable source.

Providing evidence of deposits or loans

You need to show evidence of how the money to fund your studies was accumulated.
If your source of income is a money deposit held in a bank account, you must provide the following evidence:
• Pay slips
• Bank loan documents
• Interest from investments
If your source of income is a loan, you must provide the following evidence:
• A bank statement showing the amount of available credit.
• A statement from the holder of the loan that its purpose is to support your studies.
Note: If your source of income is a home loan with a redraw facility from an Australian financial institution, the funds from the redraw facility may be considered a loan.
A home loan with a redraw facility from a non-Australian financial institution may be acceptable, but must be considered on a case-by-case basis.

Financial support from a non-profit organisation

A non-profit organisation providing you with financial support must be lawfully established and operating in Australia or overseas.
You must show evidence of the organisation's non-profit status, including:
• Statement from the Australian Taxation Office showing organisation's status.
• Documents of incorporation as a non-profit organisation.
You must also show evidence that the organisation has sufficient funds or income to support you financially. Evidence may include:
• Bank statements
• Financial statements.

Supporting family members when studying for less than 12 months

If you are applying to study in Australia for less than 12 months, your family members are not eligible to come with you to Australia. However, you must show that you have enough
funds to support your family members in your home country, taking into consideration the standard cost of living in that country.

Prepaid boarding fees

If you are boarding with your education provider and have prepaid your boarding fees, the amount you have prepaid can be deducted from the total amount of living costs you must
demonstrate to the department.
You will need to show evidence to the department of the boarding fees as separate from the tuition fees.
Example: A contract or an authorised receipt of payment from your education provider. Note: Only formal boarding arrangements will be accepted by the department. Prepayment of
private boarding arrangements or rent will not be deducted from the living cost requirement.

As mentioned above you must prove that you have enough money to pay for travel, tuition and living expenses for yourself, your spouse and your dependent children for the period of your stay in Australia. (even in case they do not travel with you to Australia).  
There is no need to show any bank statements as a proof however on your application you must lawfully declare that you have access to the sufficient funds to support your stay in Australia.

If you are and Assessment level 2 country, you must prove that you have enough money to pay for travel, tuition and living expenses for yourself, your spouse and your dependent children for the period of your stay in Australia. (Even in case they do not travel with you to Australia).

You must prove that you can meet these financial requirements for the first 12 months of your stay.
The money to support you and your family members must come from these acceptable sources:
 1money deposits held in a bank account by you or a person supporting you
 2a loan from an approved financial institution
 3a loan from your government
 4financial support from your education provider or another organization

You may be asked to show evidence of how the money to fund your studies was accumulated (pay slips, bank loan documents, interest from investments etc.)

To be eligible for student visa as an Assessment level 3 country, you must prove that you have enough money to pay for travel, tuition and living expenses for yourself, your spouse and your dependent children for the period of your stay in Australia. (even in case they do not travel with you to Australia).
You have to  meet above mentioned financial requirements for the first 24 months of your stay in Australia.

The money to support you and your family members must come from these acceptable sources:
 »a money deposit with a financial institution held by you, or a person supporting you, for at least three consecutive months immediately before the date of your visa application
 »a loan from a financial institution made to you or a person supporting you
 »a loan from your government
 »your proposed education provider
 »the Australian Government or an Australian State or Territory government
 »the government of a foreign country
 »a provincial or state government of a foreign country that has the written support of the national government of the foreign country
 »an organization gazetted by the Minister
 »an acceptable non-profit organization
 »a multilateral agency.

You may be asked to show evidence of how the money to fund your studies was accumulated (pay slips, bank loan documents, interest from investments etc.)

If you want study in Australia for less than 12 months, your family members are not eligible to come with you to Australia. However, you must show that you have enough funds to support your family members in your home country.

To be eligible for student visa as an Assessment level 4 country, you must prove that you have enough money to pay for travel, tuition and living expenses for yourself, your spouse and your dependent children for the period of your stay in Australia. (even in case they do not travel with you to Australia).

You have to meet above mentioned financial requirements for the first 36 months of your stay in Australia.
The money to support you and your family members must come from these acceptable sources:

 1a money deposit with a financial institution that has been held for at least six consecutive months immediately before the date of your visa application by OR
 2a loan from a financial institution made to (and in the name of): you / your spouse / your brother or sister / your parents / your grandparents / your aunt or uncle (only if they are citizen / permanent resident of Australia or an eligible citizen of New Zealand).

 »a loan from the government of your home country
 »your proposed education provider
 »the Australian Government or an Australian State or Territory government
 »the government of a foreign country
 »a provincial or state government of a foreign country that has the written support of the national government of the foreign country
 »an organisation gazetted by the Minister
 »an acceptable non-profit organisation
 »a multilateral agency.

You may be asked to show evidence of how the money to fund your studies was accumulated (pay slips, bank loan documents, interest from investments etc.)

If you want study in Australia for less than 12 months, your family members are not eligible to come with you to Australia. However, you must show that you have enough funds to support your family members in your home country.