Funds Requirements for Study in Australia

In order to move abroad, you need to have enough money to pay for travel, tuition and living expenses for yourself, your partner and your kids for the duration of your stay in Australia.  You must meet these financial requirements for the period of stay in Australia.  Most of the students or candidates who are not able to fulfil their dreams of moving abroad is because they are not able to arrange money and able to meet these financial requirements.  The major categories of expenses are- travel, tuition and living. Travel expenses include air fare to Australia for you, your partner and your dependent children.  Depending upon the course you are applying for, you are supposed to pay tuition fees.  Since the course fees are different for different courses, hence you must check with the university or college what is the tuition fees of the course you are applying for. Depending upon who all are accompanying you and where you stay in Australia, the cost of living in Australia will cost you something between AUD 2790 to AUD 18610 per year.

When you apply, the Australian department must be satisfied that an applicant once in Australia will have excess funds to cover their living, travel and other expenses for themselves and their family members.

What are the Acceptable Sources of Income?

As mentioned above, you must have enough money to manage your all expenses in Australia be it living, tuition or travelling.

  • You must have money deposited in your account held by you or a person supporting you for at least three consecutive months.
  • A loan from a financial institution made by you or by a person who is supporting you
  • A loan from Government, education provider or government of a foreign country

You must also show evidences of how the money was accumulated to fund your studies.  You must provide pay slips, bank loan documents and interest from investments to show how you are able to manage showing money during your stay in Australia.  If loan is the source of your income, then you must provide following evidences, such as- bank statement showing the amount of available credit and statement from the holder of the loan.

 If you are applying for a course which has duration for less than 12 months, then your family members are not eligible to come along with you to Australia.  However, exact details can be discussed with your immigration agent.

How can West Highlander Help You?

We at, West Highlander understand that moving abroad is an important decision and it needs to be proceeded carefully.   We strive to make the transition process simple and easy for our clients.  The team at West Highlander has years of experience in the immigration industry and provide our clients customized solutions and representation within the legal framework of immigration.   With West Highlander, you can have peace of mind that all your needs will be fulfilled effectively.  For more information, feel free to contact us.