Financial Preparation for Studying in Australia

The Australian Department of Home Affairs mandates certain financial requirements for student visa applicants. These are designed to prove you have sufficient funds for your stay.

The Student Visa Subclass 500 application process includes a Document Checklist Tool, which guides you on demonstrating the required minimum funds.

➡️ Current requirement (as of 2025): AUD 29,710 per year for the main applicant, with additional amounts required for dependents (spouse/partner ~AUD 10,394, each child ~AUD 4,449).

Actual living costs may exceed the minimum visa requirements, varying significantly across different parts of Australia. Using the Cost-of-Living Calculator can offer insights into more realistic expenses.

In case of financial difficulties while in Australia, international students are encouraged to contact their education provider’s international student support services for assistance.

Proper financial planning is key to ensuring a rewarding and stress-free educational experience in Australia. Make sure to leverage available tools and resources for an accurate assessment of your expected living and education expenses.

As long as Saga Studies is by your side, you’ll be successful. While applying for a visa on your own may seem cost-effective, overlooking even a single detail can carry serious risks. Your visa application may be refused if you choose a program unrelated to your qualifications or select the wrong category by mistake. With Saga Studies as your education consultant, you can expedite the visa process while saving valuable time and money. Beyond assisting with documentation and application filing to maximize your chances of approval, we also provide extensive guidance on the arrival process.