What is the financial requirement for an Australian student visa?
To apply for an Australian student visa (subclass 50, you must demonstrate that you have sufficient funds to cover your tuition fees and living costs while studying in Australia. The Australian government requires proof that you can financially support yourself for the duration of your stay. On average, tuition fees range between AUD 15,000 and AUD 50,000 per year, depending on the course and institution. Additionally, you will need to show that you can cover living expenses, which are estimated at AUD 21,041 per year. This includes accommodation, food, transportation, and personal expenses.
If you are bringing dependents (partner or children) along, you must show additional funds: AUD 7,362 per year for a partner and AUD 3,152 per year for each child. Alongside these, you’ll need to budget for Overseas Student Health Cover (OSHC), which typically costs between AUD 400 and AUD 1,000 per year. The financial evidence you provide, such as bank statements or affidavits from a sponsor, will need to prove that you have access to these funds. In addition to your tuition fees and living expenses, you must also demonstrate that you can pay for a return flight to your home country.
Using Australia visa consultants for Indians can help you understand the specific financial requirements for your visa application. These experts guide you through the documentation process, ensuring you meet all the criteria to successfully apply for your Australia student visa from India. Proper financial documentation and planning will ensure you fulfill the genuine temporary entrant condition, proving that you are capable of supporting yourself during your stay in Australia.
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