How Much Bank Balance Is Required For Australia Student Visa 2025?

By Vipul Jain

28 Nov, 2024

Scholarship

There is no simple and direct answer to this question and as per the authentic sources student visas in Australia are required to be stated in their application nowadays people are very curious to know How Much Bank Balance Is Required For Australia Student Visa 2025 so we've decided to provide all the authentic information in this blog.

How Much Bank Balance Is Required For Australia Student Visa 2025?

Discovering the exact funds needed for an Australian student visa becomes a breeze with a simple calculation. Whether you plan to stay for one or three years, showcasing financial capability for one year, covering all study-related costs is crucial.

The Australian government has set living costs at approximately AUD$21,041, course fees at AUD$35,000, travel expenses at AUD$2,000, and health insurance at around AUD$1,350, summing up to AUD$59,391. Keep in mind that while living costs and travel fees are standardized, health insurance varies based on your educational institution.

When it comes to financial proof for an Australian Student Visa, the Immigration Department seeks authentic evidence. Acceptable sources include:

Bank Statement:

For self-funding students, present a comprehensive bank statement covering at least one year. If sponsored by parents or a spouse, utilize their savings account statement.

Government Loan:

If you've applied for a government loan, provide a detailed statement indicating the loan amount and your name.

Scholarship:

Fully funded scholarships, such as the Manaaki New Zealand Scholarship 2025, can serve as a credible source of financial proof.

Property:

If your scholarship is tied to property, submit a property evaluation report from the lending institution.

Proving Financial Requirements:

As an international student, you need to present substantial evidence covering tuition, living, and travel costs throughout your study duration. There are two effective methods for proving financial requirements:

Preference 1:

Demonstrate funds covering tuition, living, and travel costs for 12 months.

Preference 2:

Show an annual income meeting government requirements, which could be your income, your parents, or your spouse's income. The total financial requirement is contingent on the course fee.

Two Options for Showing the Required Amount:

• Include living expenses (AUD$21,041), dependant's cost (AUD$7,362, or AUD$3,152 if under 18), and potential school costs (approximately AUD$8,000 per year). Factor in AUD$2,000 for travel expenses and one year of tuition fees.
• Demonstrate an annual income of at least AUD$60,000, incorporating your income, your parents, or your spouse's income.
• Ensure the sponsor doesn't travel with the student; if traveling with a dependant, showcase an annual income of AUD$70,000.
• Remember, fully funded scholarships like the Manaaki New Zealand Scholarship 2025 can significantly support your financial proof for an Australian Student Visa.

Read also:- How To Get Schengen Visa From USA?