Australia Raises Financial Capacity Requirement For Student and Student Guardian Visas
Australian Department of Home Affairs has extended the amount of money that Student and Student Guardian visa applicants need to have to be eligible for the visa.
Australia Visa New Rules: The Australian Department of Home Affairs has extended the amount of money that Student and Student Guardian visa applicants need to have to be eligible for the visa. According to the Department of Home Affairs, Australian Government at immi.homeaffairs.gov.au, the rule has been into effect from May 10, 2024.
“The financial capacity requirement has been updated to align with a proportion (75 per cent) of the national minimum wage. This will better indicate the amount of money considered reasonable to provide a minimum standard of living while studying in Australia. This proportion considers that students are out of course session for 25 per cent of the year. During this time they may return home or have access to unrestricted work,” reads the statement on the website.
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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