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Funds requirements for Student Visa (only certain countries)
The Australian government is making it a bit tougher for international students applying for a student visa. The money you need hasn’t changed since 2019, but because life’s gotten more expensive, they’re bumping it up.
Starting from October 1, 2023, if you want a student visa, you’ve got to show you’ve got at least AU$24,505 for Primary applicant saved up to cover your living costs for the year.
But what's all this financial capacity stuff?
To get that Aussie student visa, you’ve got a checklist. One of the things on there is proving you’ve got the money to handle your travel, course fees, and living expenses while you’re in Australia. They just want to make sure you won’t struggle with cash while you’re hitting the books.
Now, about the financial capacity update...
No changes since 2019, thanks to COVID-19. But before that, they used to tweak the requirements every year. The new rules start on October 1, 2023.
If you’re bringing family or a partner, they’ve changed the amounts you need. If you apply after October 1, 2023, you’ll need to prove you’ve got the new amounts. Apply before that date, and you’re good with the old requirements.
Here’s the thing: the visa amounts are the minimum. Living costs can be more depending on where you are in Australia.
It’s smart to figure out the day-to-day costs. Use the Study Australia Cost of Living Calculator to get a rough estimate.