I am worried about the financial requirement for an Australian student visa. I am unsure how much money I need to show in my bank account, and I don’t want my visa to get rejected because of insufficient funds.
As per Australian Student Visa (Subclass 500) requirements, Nepali students must show enough funds to cover:
- First year tuition fees
- Living expenses for 12 months
- Travel expenses to Australia
The Australian Government currently requires a minimum of AUD 29,710 for one year of living expenses. In addition, students should show approximately AUD 2,000–2,500 for travel costs, plus their first year tuition fees.
For example, if your tuition fee is AUD 25,000 per year, the total funds you should show would be:
- Tuition Fees: AUD 25,000
- Living Expenses: AUD 29,710
- Travel Costs: AUD 2,500
Total Required Funds: AUD 57,210
At Rozario Enterprises, we usually advise Nepali students to maintain this amount in their bank account for at least 3–6 months before applying. Sudden large deposits may create doubts during visa assessment.
You may show funds through:
- Personal or parent’s bank statements
- Fixed deposits
- Education loan sanction letter
- Sponsor’s income proof
- Scholarship documents, if applicable
If you are travelling with dependants, additional funds are required:
- Spouse: AUD 10,394
- Each child: AUD 4,449
- Schooling cost for each child: approximately AUD 13,502 per year