Changes to Financial Requirements for Student Visa

From 10 May 2024, the financial requirements for Student and Student Guardian visa applicants are increasing. This update ensures that international students have adequate financial resources to support themselves during their studies in Australia.

Increased Financial Capacity Requirement

  • From 10 May 2024, the financial capacity requirement for Student and Student Guardian visa applicants will increase.
  • The new requirement aligns with 75% of the national minimum wage, ensuring students have sufficient funds for living expenses while studying in Australia.

Benefits for Students and Parents

  • Helps students and parents make informed decisions about financial planning for studying in Australia.
  • Reduces the risk of financial distress during the study period.
  • Ensures compliance with visa conditions and protects students from workplace exploitation.

Financial Capacity Requirement

Financial capacity requirement before 10 May 2024 Financial capacity requirement after 10​​ May 2024
Primary applicant
Spouse or de facto partner of the Student primary applicant (not applicable to Student Guardian applicant)
Dependent child
Annual school costs
Personal annual income if there is no member of the family
Personal annual income where there is a member of the family unit

Please ensure you have the necessary funds to meet these requirements to enhance your eligibility for the visa and ensure a smooth study experience in Australia.

At Further, we are committed to assisting students and parents with navigating these changes. If you have any questions or need assistance with your visa application, feel free to contact us.

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