The amount of money you’ll need varies depending on your course, which city you’ll be living in, whether you have dependents, and several other factors. The amount can range from $35,000 to $70,000+ per year. You will need to show at least $29,710 for 12 months of living expenses plus your first-year tuition fee and return airfare. Other fees include Overseas Student Health Cover (OSHC), accommodation, food costs, transportation costs, and visa application costs.

Yes, loans from recognised banks or financial institutions are acceptable financial evidence or proof of funds. The loan must be in the name of the applicant or other individual providing financial support to the student such as the spouse or de facto partner of the applicant or the applicant’s parents. The applicant must have genuine access to these funds and it should be available to be used for the purpose of financially supporting the applicant, as well as family members if any, while in Australia.

Not all student visa applicants are required to submit proof of funds when lodging their application. However, the Department of Home Affairs may request financial evidence at any time during the visa processing. You must be able to prove that you have genuine access to sufficient funds in order to cover living expenses, tuition fees, travel costs, and any accompanying dependents. This is why it is important to have financial evidence readily available.

Assessment Level, also called Evidence Level or Country Risk Level, classifies countries based on immigration risk, ranging from AL1 (low risk) to AL3 (high risk) which affects visa documentation requirements. Higher risk levels can mean more supporting evidence may be required. However, the old Assessment Level framework was replaced with the Simplified Student Visa Framework (SSVF) in 2016. Currently, Australia uses a risk-based assessment model that considers both the student’s country and education provider rather than the old assessment levels.

There is no official requirement for funds to be held in your account for a specific period of time before applying for an Australian student visa. However, the Department of Home Affairs may assess how long the funds have been available, where they came from, and whether you have genuine access to them. Providing months of bank statements and evidence of the source of funds can help demonstrate financial capacity and strengthen your application.

Yes. Student visa applicants may be able to use their spouse’s or de facto partner’s income as evidence of financial capacity. The income must generally be supported by official government documents, such as tax assessments, and applicants must demonstrate genuine access to those funds. However, if the partner is accompanying the student to Australia and will stop working, additional evidence may be required to show that the funds will remain available during the student’s stay.

Yes, parents can provide financial support for a student visa application. Applicants may use their parents’ income, savings, or other financial resources as evidence of financial capacity. You may need to provide documents showing your relationship to your parents and evidence that the funds are genuinely available to support your studies and living expenses in Australia. Key requirements for parental sponsorship include parents’ proof of income, proof of relationship of the parents and child, and proof of genuine access such as formal declarations (for example, a notarized sponsorship letter) and bank statements showing they can genuinely release the funds for your education.