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.

As this is just the short guide to give you a general idea please do not hesitate to contact us on info@aussie-study.com for a complete detailed calculation of your financial requirements.

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.