The adjustment in the financial capacity requirement is aimed at ensuring that students have adequate financial resources to sustain themselves during their studies in Australia. Previously, the requirement was set at a fixed amount, but now it will be aligned with 75 per cent of the national minimum wage.
Financial capacity requirement before 10 May 2024 | Financial capacity requirement after 10 May 2024 | |
primary applicant | AUD24,505 | AUD29,710 |
spouse or de facto partner of the Student primary applicant (not applicable to Student Guardian applicant) | AUD8,574 | AUD10,394 |
dependent child | AUD3,670 | AUD4,449 |
annual school costs | AUD9,661 | AUD13,502 |
personal annual income if there is no member of the family | AUD72,465 | AUD87,856 |
personal annual income where there is a member of the family unit | AUD84,543 | AUD102,500 |
Applications submitted before 10 May 2024 will be assessed based on the previous financial capacity requirements. Visa applicants who lodge applications within the first week of the changes will be granted additional time to demonstrate their capacity to meet the new requirements.
For questions regarding the increased financial capacity requirement and the acceptable evidence of funds, please reach out to us.
Student Visa Financial Requirements /Student Visa Financial Requirements /Student Visa Financial Requirements / Student Visa Financial Requirements
Unit 7, 242-244 Caroline Springs Blvd
Caroline Springs VIC 3023
Unit 7, 242-244 Caroline Springs Blvd
Caroline Springs VIC 3023
