The amount of money Student and Student Guardian visa applicants need to have to be eligible for a visa is increasing.
The Department on Home Affairs says the financial capacity requirement has been updated to align with a proportion (75%) 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,” it says.
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.

The reason for the increase is because the Australia Government believes international students who meet the new financial requirement are better able to make informed decisions about their future, and are less likely to:
- be in financial distress once in Australia
- breach their visa conditions by working more hours than their visa conditions allow
- be vulnerable to worker exploitation.
Applications lodged before 10 May 2024, will be assed under the existing financial capacity requirements.
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