In order to obtain an Australian student visa , international students must prove that they have access to sufficient funds to pay the tuition fee, travel expenses, as well as the cost of living for the student and accompanying family members.
There are two options for demonstrating financial capabilities:
Option 1: Confirmation of the availability of funds to cover the above costs;
Option 2: Confirmation that you meet the annual income requirements.
If you use the first option, careful calculation of funds is required. As of October 2019, the 12-month living costs are:
– For students or guardians AUD$21,041
– For an accompanying partner – AUD$7,362
– For an accompanying child – AUD$3,152
Calculate the first 12 months of your course or include the total cost of your course if it is 12 months or less. Subtract all prepaid expenses and provide evidence of these payments.
Example 1: If the total course fee is AUD$50,000 for three years, determine the fee for one year (12 months). The amount will be AUD$16.666 Australian dollars. Subtract any prepaid amounts.
Example 2: If the course fee is AUD$15,000 for ten months and you have already paid AUD$5,000, subtract this prepaid amount from the total. The amount will be AUD$10,000 Australian dollars.
Example 3: If the course fee is AUD$20,000 for 18 months, determine the fee for one year (12 months). The amount will be $AUD13,333 Australian dollars. Subtract any prepaid amounts.
If children of school age are included in the visa application, tuition fees of Australian $ 8,000 per year for each child will need to be added to the total amount. This amount is the minimum required only to apply for a visa, and you are responsible for examining the cost of tuition, which can vary greatly depending on the states, territories and schools in Australia.
You are not required to include child education costs in your budget if you:
– are a graduate student and can show that you enrolled your child in an Australian public school where all fees were canceled;
– received a scholarship from the Australian Commonwealth Government and you can show that you have enrolled your child in a public school where all fees were canceled.
If you are applying outside Australia, include AUD$2,000 as your travel expenses. When applying in Australia, include AUD$1,000.
The annual income option requires students to provide proof of personal annual income of at least AUD$60,000. For students accompanied by family members, the amount is AUD$70,000 Australian dollars. The income shown should be the personal income of your spouse (who does not travel with you) or your parents. In cases where both of your parents work, their combined income may be considered. In all cases, a certificate of annual income must be provided in the form of official government documentation, such as a tax assessment.
If you come to Australia for a short course, you will only need to show proof of availability of funds for the estimated period of stay.
You and your family members must demonstrate that you will have free access to finance while you are in Australia. Below are some examples of how this can be demonstrated:
– If funds are provided by a third party, show evidence of a relationship and any history of financial support provided to the student or any other students. It is also good practice to provide identification documents of the person providing the funds.
– If you rely on a cash deposit, you need to explain any recent large deposits. You may also consider explaining regular deposits, such as salaries.
– If you have an educational loan to cover the cost of training or accommodation, payments must be made in accordance with the agreement between the bank, the provider and you. Evidence of any payment that occurred before the visa application has been completed must be provided. Confirmation of the conditions of the loan and the full amount of the loan to be provided must be attached.
– If you rely on a different type of loan, you may consider providing evidence of the collateral used to obtain the loan, the terms of the agreement, and the ability to cover recurring expenses. The best proof of genuine access to credit is a full repayment.
If you plan to study in Australia, we will be happy to assist you in applying for a student visa, please contact!