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Australia Financial Requirements

Download your FREE Australia Financial Requirements Guide below.

International students must evidence their ability to pay for their education and living expenses whilst overseas. You are not required to show proof of funds for the entirety of your studies; however, a source of funds will need to be documented for future years. Any part time work undertaken whilst overseas cannot be used to demonstrate proof of funds. Please review the following items prior to submitting your financial documentation to a university or immigration official.

  1. Financial documents must be original copies where possible. The funds should be visible on official letterhead and include an authorised stamp and / or signature. Scanned documents might be accepted but are not advised due to an increased risk of visa rejection.ย 

  2. The financial documents must be recent. Producing documents that are 6-12 months old will cause suspicion from the university and visa office.ย 

  3. All financial documentation must be in English or include an official English translation.

  4. The amount evidenced must be equal or greater than the requirements set out by the government guidelines. It is good practice to evidence more funds than required.ย 

  5. Financial documents will need to be in a liquid form. Producing life insurance documents, gold deposits, share certificates and bonds can lead to questioning and suspicion from an immigration official.ย 

Universities in Australia require different levels of documentation depending on their assessment level. Whilst some universities do not require proof of funds, an immigration official may require further documentation to make their assessment. To see what documents are required for your choice of university clickย here. Students need to provide evidence for the following amount {s}:

Financial Evidence Required

  • Primary applicant: $21,041

  • Spouse or de-facto partner of primary applicant: $7,362

  • Dependent child {per child}: $3,152

  • Annual costs for children accessing schooling: $8,296

  • Travel costs: $1,500

Students can deduct the scholarship and / or deposit amount paid towards their tuition fee as part of their financial evidence.ย 

I hope you found the information on our Study in Australia page useful. StudyOverseasNow.com are study abroad education agents that specialize in providing expert advice throughout the consultation and application process. If you would like to study in Australia and hope to secure a significant scholarship or study grant at an Australian university book a FREE Consultation with an experienced education & career counsellor to find out what overseas study options are available. We look forward to helping you start your journey to a brighter future.

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