Studying in Australia has always been a dream for many international students. However, as of 2025, meeting the financial requirements for an Australian Student Visa has become even more important. The government has revised the minimum financial thresholds to ensure students can comfortably cover their living expenses, education costs, and other essentials while studying. Understanding these new requirements is crucial for a smooth visa application process.
In May 2024, the Department of Home Affairs announced updated financial capacity figures that applicants must meet when applying for the Student Visa (subclass 500). These changes reflect the growing cost of living and aim to protect international students from financial hardships once they arrive in Australia. Here’s a detailed breakdown of what students need to prepare financially.
Updated Financial Capacity Requirements
From May 10, 2024, the following amounts must be demonstrated by student visa applicants:
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Primary applicant: AUD 29,710
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Spouse or de facto partner: AUD 10,394
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Dependent child: AUD 4,449
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Annual school costs for children: AUD 13,502
These figures represent the minimum funds needed to cover 12 months of living expenses. Applicants must also separately show proof of enough funds to pay their first-year tuition fees and travel expenses to and from Australia.
Acceptable Proof of Financial Support
Visa applicants must submit strong evidence that they can access the required funds easily. Acceptable forms of proof include:
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Bank statements showing sufficient savings
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Evidence of approved education loans
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Letters confirming scholarships or financial sponsorship
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Proof of regular income from a parent or de facto partner
The funds must be available at the time of application and must not be locked away or restricted for use.
New Student Visa Application Fee
In addition to the new living expense requirements, the student visa application fee was also increased:
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Student visa application fee: AUD 1,600 (effective from July 1, 2024)
This fee must be paid when lodging the visa application and should be included in the total budget planning for prospective students.
Key Takeaways for Students
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Careful Financial Planning: Students must carefully plan their budgets, considering the latest living cost benchmarks.
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Document Collection: Collecting updated bank statements, scholarship letters, and loan documents early is highly recommended.
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Family Considerations: If bringing dependents, additional funds must be demonstrated for each accompanying person.
Meeting the new financial requirements is now one of the most critical parts of a successful student visa application.
FAQs
What is the new minimum amount required for a single student visa applicant in 2025?
A single student must show access to at least AUD 29,710 for living expenses for 12 months, excluding tuition and travel costs.
Does the required amount cover tuition fees as well?
No, tuition fees must be accounted for separately in addition to the living expenses amount.
Can I use an education loan to meet the financial requirements?
Yes, approved education loans are acceptable evidence to demonstrate sufficient financial capacity.
Has the student visa application fee increased for 2025?
Yes, the application fee for the student visa is now AUD 1,600, up from the previous amount.
What if I am bringing my spouse or children with me?
You must show additional funds: AUD 10,394 for a spouse and AUD 4,449 for each dependent child, plus annual schooling costs if required.
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