May 10, 2024
Financial Capacity Requirement for Student and Student Guardian Visas Increased
Starting May 10, 2024, Australia has increased the financial capacity requirements for student and student guardian visa applicants. These changes reflect a more realistic estimate of the costs needed to maintain a minimum standard of living in Australia and aim to reduce financial distress among international students.
Key changes to the financial requirements include:
- Primary Applicant: The required amount has increased from AUD 24,505 to AUD 29,710.
- Spouse or De Facto Partner: The requirement has increased from AUD 8,574 to AUD 10,394.
- Dependent Child: The required funds have increased from AUD 3,670 to AUD 4,449.
- Annual School Costs: These have risen from AUD 9,661 to AUD 13,502.
- Personal Annual Income (without family): The required income has increased from AUD 72,465 to AUD 87,856.
- Personal Annual Income (with family): The required income has increased from AUD 84,543 to AUD 102,500.
These changes apply to visa applications lodged on or after May 10, 2024. Applications submitted before this date will be assessed under the previous financial requirements.
