To get an Australian Student Visa (Subclass 500), you must prove you have enough money to cover your course fees, living expenses, and travel costs. This financial capacity requirement is a key part of the visa application — the Department of Home Affairs needs to see you can support yourself and any accompanying family without relying on public funds. In this guide, HeadStart Academy explains exactly what you need to show, how much money is required, and how to present your financial evidence correctly. All information is based on official requirements as at April 2026.
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Financial requirements refer to the minimum funds you must demonstrate to the Department of Home Affairs (DHA) when applying for a Student Visa (Subclass 500). The requirement covers your tuition fees for the first year (or the entire course if shorter), living costs of at least A$29,710 per year for a single student (as at April 2026), plus airfares of approximately A$2,000–A$3,000 round trip. If you bring a partner or children, you need additional funds — around A$10,400 for a partner and A$4,500 per child. These figures are updated annually by the DHA. You must show you genuinely have access to these funds, either through your own savings, a loan, a scholarship, or family support. Remember, all listed providers on HeadStart Academy are CRICOS-registered, meaning your course is recognised and your visa application will be processed accordingly.
The financial requirement applies to all applicants for a Subclass 500 Student Visa, including those applying for ELICOS, schools, VET, higher education, and postgraduate research courses. It also applies to Student Guardian Visa (Subclass 590) applicants, but with different amounts. You must be at least 6 years old, and if under 18, your welfare arrangements must be in place. Accompanying family members (partner and dependent children) increase the required funds. Exceptions exist for students from certain countries with reduced evidentiary requirements (e.g., ‘streamlined’ visa processing for low-risk applicants), but the underlying funds must still be available. Full scholarship holders only need to show travel costs unless the scholarship covers everything. Some applicants can use a loan from an approved lender. If you’re changing to a student visa onshore, the same financial rules apply.
Step 1: Obtain a Confirmation of Enrolment (CoE) from a CRICOS-registered provider. Step 2: Calculate your total required funds: tuition (first year or full course if shorter) + living costs (A$29,710/year for single, plus family) + travel costs (A$2,000–A$3,000). Step 3: Gather financial evidence: bank statements showing consistent deposits (usually 3–6 months), a letter from your bank, an education loan approval, a scholarship letter, or a signed declaration from your sponsor (with supporting documents). If using a sponsor, you need their bank statements and identity proof. Step 4: Lodge your visa application online via ImmAccount, uploading all documents. Step 5: Wait for processing — typically 4–6 weeks for a standard application, but can be longer if additional checks are needed. The DHA may request further evidence (RFI) if your documents are insufficient. Required documents include: passport, CoE, financial evidence, English test (IELTS, TOEFL, etc.), Overseas Student Health Cover (OSHC), health check (medical exam), and character check (police certificates). All documents must be in English or translated.
Visa application charge: A$710 for the main applicant (as at April 2026). Additional family members cost extra (partner A$355, child A$175). OSHC (health cover) costs approximately A$600–A$700 per year for a single student, A$1,200–A$1,400 for a couple, and A$1,800–A$2,200 for a family. Health checks cost around A$300–A$500 per person, and biometrics (if required) cost A$85. You should also budget for English tests (A$300–A$400) and document translation (A$30–A$50 per page). Living costs vary by city: in Sydney or Melbourne, expect weekly rent of A$250–A$400 for a room, groceries A$80–A$120, and public transport A$30–A$50. Regional centres are cheaper. Remember, fees shown are indicative – always confirm current rates with the DHA or your provider.
While holding a Student Visa, you must continue to demonstrate financial capacity if requested by the DHA (e.g., during a compliance check). You can work up to 48 hours per fortnight during study periods and unlimited hours during scheduled breaks, which can help cover living expenses, but you should not rely on this as your primary income for the visa application. You must maintain your course enrolment and make satisfactory course progress. If you change providers, you must notify the DHA and ensure your financial situation still meets requirements. The ESOS Act protects you — CRICOS-registered providers must deliver the course as advertised. Failure to maintain adequate funds may result in visa cancellation.
One major mistake is not showing ‘genuine access’ to funds — simply having a bank statement with a large deposit just before application can raise red flags. Provide historical statements showing consistent savings. Another error is underestimating living costs; many applicants use outdated figures — always use the latest DHA amounts (A$29,710/year for 2026). Not including accompanying family members’ costs is common. Some applicants submit loan approvals without confirming the loan has actually been disbursed. Others provide sponsor letters without supporting bank statements. Missing OSHC evidence or using a policy that doesn’t meet requirements can also lead to refusal. Finally, lodging an incomplete application due to missing documents like the CoE or English test results will delay processing. See our GTE guide for more on genuine temporary entrant evidence.
For professional migration advice, consult a registered migration agent (MARA) — you can find one via the MARA website. The Department of Home Affairs (homeaffairs.gov.au) provides official forms and guidelines. Your education provider’s international student support office can also assist with general queries about financial evidence. HeadStart Academy is NOT a registered migration agent and does not provide immigration advice. Our role is to help you understand requirements using official data from the CRICOS register and DHA. Always verify current information directly with the authorities.
Ready to apply for your student visa? Start by researching CRICOS-registered courses on HeadStart Academy, then follow the steps above to prepare your financial evidence. For personalised advice, consult a MARA-registered migration agent.