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Australian Student Visa Applications and the Financial Requirement
Increase in Living Costs and further scrutiny to evidence of Funds
For students to successfully apply for an Australian student visa, Australian Immigration Law requires international student applicants for Australian student visas to prove that they have sufficient funds to pay for their cost of living and studying in Australia. This typically includes an amount for each year for living costs (currently $12,000 for the primary student visa applicant), course costs, return travel to your home country and Overseas Student Health Cover.
While international students are able to supplement their income with money earned through part-time work in Australia, the ‘living costs’ requirement means that students have to show to the Australian Immigration Department that they are able to meet their cost of living in Australia without reliance on money earned from working 20 hours per week as Australian International Students are allowed.
The Australian Department of Immigration & Citizenship is seeking to increase the basic rate that international students have to show that they have available to meet their living costs in Australia.
The current rate is $12,000 per annum per primary applicant student. From 1 January 2010, the Australian Immigration Department intends to increase the funds students, their spouses and dependent children must have access to as set out below –
The International student seeking a student visa to study in Australia will also have to show, where required, that the funds they are relying upon to meet the costs of studying in Australia will be genuinely available to them during their stay in Australia.
What must students do to show that the funds are genuinely available?
Under the changes proposed for 1 January 2010, officers of the Department of Immigration and Citizenship (DIAC) assessing Student visa applications will have the discretion to consider a Student visa applicant’s circumstances to determine if the student genuinely holds the funds to which they claim to have access.
For example, International students applying to study in Australia who are relying upon a bank loan, may need to show that these funds have been deposited into a bank account to which they have unrestricted access, and that they have the financial capacity to service the loan both before they depart for Australia and once they arrive.
Further investigation in to the international student’s funds by the Department of Immigration & Citizenship may include
02 Jul 2018
04 Apr 2018