Australia has recently introduced updated requirements for funds evidence in student visa applications, effective from October 1, 2023. The aim is to ensure that international students possess sufficient financial resources to sustain themselves during their studies in Australia.
Summary of Revised Funds Evidence Requirements (Applicable from October 1, 2023)
For Regulated and Streamlined Students Requiring Funds:
Primary Applicant: AUD 24,505
Spouse: AUD 8,574 (35%)
Child: AUD 3,670 (15%)
Considerations for Funds:
Course fees for the first 12 months (deducting any already paid fees)
Acceptable Sources of Funds:
Bank Fixed Deposits
Loans (with evidence of disbursement)
Documents Required for Proof of Funds:
The necessary documents may vary, but generally include:
Bank statement with the required savings.
Scholarship or sponsorship letter (if applicable).
Letter of financial support from parents or guardians.
Pay slips or tax returns for employment income. (parents or guardians)
Documentation of other assets.
Show Money For Australian Student Visa
New Show Money Requirements For Australian Student Visa