It’s decided. You want to study in Australia, gain work experience, improve your English, and see where life takes you. You can already picture yourself on a sunny beach, walking through Sydney’s CBD with a coffee in hand, or working on a university group project. Yet one step stands between you and that dream: your student visa application and the financial evidence it requires.

Your student visa application — and, more importantly, the bank balance required to support it.

Let’s break it all down.

Why Proof of Funds Matters for a Student Visa

Showing a bank balance with sufficient funds is a core requirement for most Australian Student Visa (subclass 500) applications.

However, not every applicant must provide proof of funds right away. Whether you’re asked depends on your country’s Assessment Level, your education provider, and your migration history.

In general:

  • Level 1 applicants (from low-risk countries and top-tier education providers) may not be required to show a bank balance for an Australian student visa lodgment. Nevertheless, immigration can still request them later.
  • Level 2 and Level 3 applicants, or those with complex histories, will most likely need to provide full financial documentation with their application.

Regardless of which category you fall into, it is your responsibility to be financially ready and have documentation on hand. Immigration officers have full discretion to request your financial documents, especially if your SOP or previous visa history raises questions.

You Prove You Are a Genuine Student by Providing Financial Evidence

Financial documentation helps immigration officers assess one key question:

“Is this student a genuine student, coming to Australia for study, or using a student visa as a backdoor into work or migration?”

Because of past abuses, the Department is stricter than ever. Some students once enrolled in low-cost courses only to work full-time. As a result, you must now show that you can live and study in Australia without relying on illegal work or government support. You do this through clear, traceable, and sufficient proof of funds.

That’s why you must clearly demonstrate that you (and your family, if applicable) can afford to live and study in Australia without relying on illegal work or government support.

And how do you do that? Through documented, traceable, and sufficient proof of funds.

How Much Bank Balance Is Required For An Australian Student Visa?

This is where the numbers come in. Below are the official financial requirements as per the Australian Department of Home Affairs (as of the latest guidance in 2025). You must show access to enough funds to cover:

One Year of Tuition Fees

This will vary depending on your course and institution. Check your Offer Letter or the provider’s Fee Schedule to get an accurate amount. For example, if your tuition is AUD 24,000 per year, that is what you must show. In addition, remember enrolment and material fees. Always round up slightly to account for currency changes.

📌 Tip: Always round up slightly to account for currency fluctuations and incidental fees.

One Year of Living Expenses

According to the official guidelines, the minimum amount you must show for living expenses (as of 2025) is:

  • Primary student: AUD 29,710 per year

Even if you plan to live cheaply, you must show this exact figure. Immigration will not accept lower personal estimates.

Travel Expenses

You also need to show:

  • AUD 2,500 for travel costs if you’re applying from outside Australia
  • Or AUD 1,000 if applying from within Australia

Dependents (if applicable)

If you’re bringing family members with you, you’ll need to show additional funds for each dependent:

Dependent Type Amount Required
Spouse or Partner AUD 10,394/year
Each school-aged child AUD 4,449/year
Schooling costs per child AUD 13,502/year

Example Calculation:

If you’re applying as a single student with a spouse and one school-aged child:

  • Tuition: AUD 24,000
  • Living (student): AUD 29,710
  • Living (spouse): AUD 10,394
  • Living (child): AUD 4,449
  • Schooling (child): AUD 13,502
  • Travel: AUD 2,500

A single student with a spouse and one child would need to show AUD 84,555 in total.

What Counts as Acceptable Proof of Funds?

Not all money is equal in the eyes of immigration. To be valid, funds must be:

In Your Name or an Acceptable Sponsor’s Name

  • Can be your own bank account
    Or your parents/legal guardian/immediate family member (third cousins do not count here) if they’re supporting you
  • Third-party sponsors are generally not accepted unless officially recognised (e.g. government or institution scholarships)

Liquid and Accessible

  • Must be in the form of cash savings or term deposits that can be easily withdrawn
  • Fixed assets (property, gold, vehicles) are not accepted
  • Cryptocurrency or undeclared income will not be considered valid

Recent and Consistent

  • Bank statements should show at least 3 months of history
  • Sudden large deposits with no explanation may raise red flags

Official and Verifiable

  • Recognised financial institutions must issue statements
  • Include name, account number, and currency
  • Should be translated to English by an accredited translator, if not already in English

How to Show Proof of Funds in Your Application

Here’s a checklist to help you prepare your documents:

Bank Statements

  • Last 3-6 months
  • Include account holder name, bank name and balance

Education Loan Documentation (if applicable)

  • Sanction letter from a recognised bank
  • Repayment schedule and disbursement details

Affidavit of Support (if parent or guardian is funding you)

  • Should be notarised
  • Include relationship proof (birth certificate, etc.)

Income Statements or Tax Returns

  • For self-funded or parent-funded applications
  • Helps demonstrate the source and sustainability of funds

Scholarship or Financial Aid Letters

  • Must include the value of the award
  • Clearly outline what expenses are covered

📌 Important: Upload all financial documents along with your visa application via Immi. Home Affairs account. Incomplete or unclear documents may result in visa refusal.

Be Financially Prepared, Be Visa-Ready

This guide explained how much bank balance is required for an Australian student visa and how to present proof of funds correctly. Being financially prepared is not only about ticking boxes. It is also about showing immigration that you are a genuine, responsible, and ready student.

If you feel unsure about your documentation, consult a registered migration agent. The right preparation can turn your study dream into reality.

👉 Book a Migration Consultation with a registered migration agent today.
 Let’s make your study dream a reality — the right way.