With effect from 24th October, Australia has increased the costs involved in a Student Visa.
Student Visa applicants will now need to show that they have access to a higher level of income or funds to cover their living expenses in Australia.
The increased costs are as follows:
For one year (12 month period), an applicant must show the following funds:
- Main applicant: $21,041
- Spouse/Partner: $7,362
- Each dependent child: $3,152
- Schooling costs for dependent children: $8,296
In place of showing funds, you may also show the income of your parents or spouse. You will need to provide proof of their taxable income for at least one year before applying.
The minimum income requirement is:
- Single applicant: $62,222
- Applicants with dependents: $72,592
What can you give as evidence of financial means?
Australia accepts the following as evidence of financial means:
- Money deposited with a recognized financial institution
- A loan taken from a financial institution
- Govt. loans
- Financial support or scholarship
For proof of income, you must submit official Govt. documents of personal income, that is, tax notices. You need to provide the same for all 12 months before applying for a Student Visa of Australia.
Y-Axis offers a wide range of visa services and products for aspiring overseas immigrants including Australia General Skilled Migration Program via RMA, Australia Skilled Regional Visa, Australia Temporary Skilled Work Visa, and Australia Temporary Graduate Visa Subclass 485. We work with Registered Migration Agents in Australia.
If you are looking to Visit, Study, Work, Invest or Migrate to Australia, talk to Y-Axis, the World’s No.1 Immigration & Visa Consultant.
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