Increase to the Financial Capacity Requirement for Student Visa

Increase to the Financial Capacity Requirement for Student Visa

The Australian Government is increasing the financial capacity requirement for Student and Student Guardian visas.

The increase was announced today (8 May 2024) and will apply to Student and Student Guardian visa applications lodged on or after 10 May 2024.

Students will now need to demonstrate they have access to $29,710 for living expenses.

Applications lodged before 10 May 2024 will be assessed under the financial capacity requirements as at time of application. Visa applicants who lodge applications within the first week of the changes coming into effect will be given additional time to demonstrate their capacity to meet the requirements.

The below table outlines the funds you need to show to meet the minimum financial capacity requirement, which will be changed from 10 May 2024.

Minimum required funds to meet financial capacity requirements

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
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