Student Visa Financial Requirements in Australia

The AUD 29,710 living-cost benchmark

The Department calculates living expenses for international students at around AUD 29,710 per year. The figure is reviewed periodically and covers essentials: rent, food, transport, utilities, phone, and basic personal items.

This benchmark is used in the financial-capacity assessment — the Department checks that your demonstrated funds are sufficient for your stated period of study. If you're studying for two years, you'll generally need to show funds covering that period of living costs, plus tuition and other upfront expenses.

The figure is not a cap. Some students spend more (especially in Sydney or Melbourne) and others spend less in regional areas or by sharing accommodation, but you must demonstrate at least this amount even if you plan to live frugally.

Adding a partner and children

If your partner is accompanying you, add roughly AUD 10,394 per year. Each dependent child adds roughly AUD 4,449 per year. These are the standard accompanying-member figures and should be treated as approximate.

If you're studying for two years and bringing a partner, your required living-cost evidence would be around AUD 80,000 (the single figure for two years plus the partner figure for two years), with children's costs adding on top. Always calculate for the full length of your course.

Partners and dependent children apply as members of your family unit rather than holding separate student visas, and their living costs are bundled into your financial assessment.

Acceptable evidence of funds

The Department accepts several forms of evidence that your funds are genuine and available. Bank statements and savings accounts are the most straightforward — usually covering the preceding months and showing a consistent balance at or above your required amount. If the funds are held by a family member, the relationship must be documented and the family member's statements provided.

Loans from financial institutions are acceptable if the loan agreement shows the amount and terms. Government or institutional scholarships are accepted when an offer letter is provided; some cover tuition only, in which case you must still show living-cost funds.

Less commonly, evidence of property, investments, or business income can support an application if proper documentation is provided. The Department is cautious about undocumented or informal funds — the source must be traceable and lawful.

How long funds must be held

Funds generally need to be held for a verifiable period before you apply, commonly a few months of continuous holding immediately beforehand. This shows the Department that the funds are genuine and not borrowed just for the application and demanded back afterward.

If money arrives suddenly from overseas, the Department will look more closely at the source and want evidence it came lawfully. A longer holding period strengthens your case where the source is informal.

Once your visa is granted, you can use and move the funds freely — the holding period is only an evidence requirement at application time. Keep your statements and transaction records in case the Department asks you to verify the funds later.

Common mistakes

The most frequent errors are showing insufficient funds (forgetting to include tuition, OSHC, or the visa charge in your total), providing a family member's bank statements without documenting the relationship, and failing to explain the source of funds such as a gift or loan.

Another common issue is inconsistency between your application and your statements. If your form claims a balance your most recent statement doesn't support, the Department will ask for clarification, so keep statements current and consistent.

If you're sponsored by an institution or government, that letter counts as evidence for the tuition it covers, but unless it's a full-cost scholarship you still need separate living-cost funds. Read your scholarship terms carefully.

How finances fit the Genuine Student assessment

Financial capacity is one of several factors the Department weighs as part of the Genuine Student assessment, alongside your academic history, employment background, stated reasons for study, and circumstances. Strong financial evidence alone doesn't guarantee approval if other factors raise concerns.

Conversely, borderline finances can be offset by a strong overall application. If you're close to the benchmark, make sure the rest of your documentation is strong — clear employment records, a detailed statement of purpose, and a credible study plan.

Because exchange rates move, it's wise to demonstrate a buffer above the stated requirement so currency fluctuations and unexpected costs don't leave you short.

Do I show funds for my whole course or just the first year?

You generally demonstrate funds for the full length of your stated course. For a three-year degree, that means three years of living costs plus tuition for the period. The Department cross-references your Confirmation of Enrolment to verify the course length.

Can I use money a friend is lending me as evidence?

Informal loans from friends are risky. The Department prefers funds that are yours or come from family members with a documented relationship. If money comes from someone else, a statutory declaration and clear documentation help, but scrutiny will be higher.

My parents are gifting me the money — what do I need?

Provide your parents' bank statements showing the funds, a statutory declaration confirming it's a gift, proof of your relationship, and evidence of their financial capacity. The Department wants assurance the gift is genuine and doesn't jeopardise their own finances.

What if AUD 29,710 doesn't match my city's real costs?

The benchmark is the minimum you must demonstrate regardless of your city. Sydney and Melbourne cost more and regional areas less, so if you're heading to an expensive city, show a higher total — but meeting the benchmark is the baseline requirement.

Can a tuition-only scholarship meet the financial requirement?

No. A tuition-only scholarship reduces your upfront costs but doesn't count as living-cost evidence. You must still show the living-cost funds separately. Only a full-cost scholarship covering both tuition and living expenses may satisfy the requirement on its own.