Student visa applicants must have sufficient funds to live in Australia without needing to work.
In 2019, the Department of Home Affairs increased the annual expenses to $21,041 that a single applicant is required to demonstrate the evidence of, in addition to the course fee, in order to satisfy the primary criteria for the Australian student visa.
Those applications with a partner and or children, will have to provide evidence of sufficient extra funds to cover another $7,362 for their partner plus another $3,152 for each dependent child, plus another $8,296 for each school-age child.
These financial requirements are to ensure that these visa holders can survive without needing to work, as they are not entitled to any government benefits.
Subclass 500 visa.
You must have enough money to pay for your stay in Australia. To see how much money you need to have for cost of living, your course and travel expenses go to Gather Documents in the ‘Step by Step’.
Living costs
12-month living costs are:
- for students or guardians – AUD21,041
- for partners coming with you – AUD7,362
- for a child coming with you – AUD3,152
Schooling costs
If you are including any school-age children in your application, add schooling costs of at least AUD8,296 per year for each child.
Alternatively, you can provide evidence your parents or your partner had a personal annual income of at least AUD62,222 in the 12 months immediately before you apply.
This ensures you have financial support in case of financial difficulties whilst in Australia.
Previous reports have stated the parents or partners minimum income levels at $62,000 for a single applicant and $72,592 if there’s a secondary applicant.
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Some Visa Applicants might find an Experienced Australian Migration Agent of great assistance. - ai16