Australian Student Visa Financial Requirements Updated: What You Need to Know
Are you considering studying in Australia? If so, recent updates from the Australian Department of Home Affairs might affect your plans. As of May 10, 2024, changes have been made to the financial requirements for Student and Student Guardian visa applicants. These alterations aim to ensure that applicants have adequate funds to sustain themselves while studying in Australia.
According to the official statement released by the Australian Government on immi.homeaffairs.gov.au, the financial capacity requirement has been adjusted to align with 75 per cent of the national minimum wage. This adjustment reflects a more realistic estimation of the funds necessary to maintain a minimum standard of living during the course of study. The calculation accounts for the fact that students are out of course session for approximately 25 per cent of the year, during which time they may return home or engage in unrestricted work.
Key Changes in Financial Capacity Requirements:
- Primary Applicant: Before May 10, 2024, the financial capacity requirement was AUD24,505, whereas after the update, it stands at AUD29,710.
- Spouse or De Facto Partner: The financial requirement for the spouse or de facto partner of the primary applicant (not applicable to Student Guardian applicants) has increased from AUD8,574 to AUD10,394.
- Dependent Child: The required funds for dependent children have been adjusted from AUD3,670 to AUD4,449.
- Annual School Costs: The estimated annual school costs have risen from AUD9,661 to AUD13,502.
- Personal Annual Income: In cases where there is no family member accompanying the applicant, the personal annual income requirement has increased from AUD72,465 to AUD87,856. If there is a member of the family unit, the required personal annual income has been raised from AUD84,543 to AUD102,500.
It’s essential for prospective applicants to be aware of these changes and ensure they meet the updated financial requirements before applying for a Student or Student Guardian visa.
For more detailed information and official updates, please visit Australian Government – Department of Home Affairs.
source: msn.com
Disclaimer: Please note that the information provided in this post is for general guidance purposes only. Visa regulations may vary based on individual circumstances and are subject to change by the Australian Government. It is advisable to consult with a qualified immigration advisor or refer to the official government sources for the most accurate and up-to-date information regarding visa requirements.
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