Evidence of funds can include money deposits, financial institution or government loans, scholarships or sponsorships. You can calculate the total amount of funds you will need by adding living costs, course fees, schooling costs and travel costs. Use the information below to calculate the total amount of funds you will need.
From 1 July 2016, the 12 month living cost is:
- student or guardian - AUD 19,830
- partner or spouse - AUD 6,940
- child - AUD 2,970.
Calculate the first 12 months of your course fees or include the total cost of your course if it is for a duration of 12 months or less. Deduct any prepaid costs and provide evidence of these payments (this should be on your Confirmation of Enrolment or provide receipts).
If you are in Australia and your course has already commenced, calculate the course fee payable for the 12 month period commencing from the date on which you lodge your application.
Example 1: if your course fee is AUD 50,000 for three years, determine the fee for one year (12 months) by dividing the total amount by the number of years. The amount will be AUD 16,666. Deduct any pre-paid amounts.
Example 2: If your course fee is AUD 15,000 for ten months, and you have already paid AUD 5,000, deduct this prepaid amount from the total amount. The amount will be AUD 10,000.
Example 3: if your course fee is AUD 20,000 for 18 months, determine the fee for one year (12 months) by dividing the total amount by the number of months, then times by 12 (20,000 / 18 x 12). The amount will be $13,333. Deduct any pre-paid amounts.
Where school aged children are included in your student visa application, schooling costs of at least AUD 8,000 per year for each child will need to be added to the amount of funds required. You are responsible for researching schooling costs, which vary between states, territories and schools in Australia.
You do not have to provide evidence of schooling costs if you are:
- a PhD student and can show you have enrolled your child in an Australian government school where the fees have been waived
- received an Australian Commonwealth Government scholarship, including Foreign Affairs and Defence sponsored students, and you can show you have enrolled your child in a government school where the fees have been waived.
If applying outside Australia, include AUD 2,000.
If applying in Australia, include AUD 1,000.