Australia Student Visa Financial Requirements

Why a financial requirement exists

When you apply for a Student visa (subclass 500), the Australian Government Department of Home Affairs expects you to show that you can genuinely support yourself while you study. The purpose is to confirm you have access to enough money to cover your tuition, living costs, and travel without relying on unauthorised work.

This page explains the requirement in general terms. The binding rules and the exact amounts are set by the Department and change over time, so always confirm the current figure on the official Home Affairs website. This is general information only and is not immigration advice.

What the funds need to cover

Broadly, the evidence of funds is meant to demonstrate you can meet the costs of living and studying in Australia. The Department publishes a benchmark amount for living costs (the financial-capacity figure) and also considers tuition and travel costs as part of the overall assessment.

• Living costs in Australia (a published benchmark amount)
• Course tuition fees
• Travel costs to and from Australia
• Funds for any accompanying family members, where applicable

The 2024 increase to the savings figure

The living-costs benchmark used for the financial-capacity requirement was raised in 2024. This means the amount of savings an applicant may need to evidence is higher than figures quoted in older guides and articles.

Because the exact amount is set by the Department and can be updated again, this guide deliberately does not quote a specific Australian-dollar figure. Look up the current financial-capacity amount on the official Home Affairs website and treat any number you see elsewhere as potentially out of date.

Types of evidence that may be accepted

The Department sets out the kinds of evidence it will consider. These can include savings held for a required period, a loan from a recognised financial institution, or evidence of a sponsor's capacity, among others. Exactly what is acceptable, and any required holding period, is defined by the Department.

Do not assume what worked previously still applies — check the current evidence rules and accepted documents on the official Home Affairs website before you prepare your application.

• Personal or family savings (often for a set period)
• An eligible education loan from a recognised institution
• Evidence of a sponsor's income or financial capacity

How it connects to the rest of your application

The financial requirement is assessed alongside the Genuine Student requirement, your enrolment (Confirmation of Enrolment), health cover (OSHC), and English-language, health, and character requirements. A complete, well-documented application addresses all of these together. See the related guides for each component.

Where to verify the exact amount

Financial figures for the subclass 500 visa change and are jurisdiction-specific. The official Department of Home Affairs Student visa page (and its financial-capacity guidance) is the authoritative source — confirm the current amount and accepted evidence there before applying. This guide is informational only and is not professional or immigration advice.