How Much Bank Balance Is Required for an Australia Student Visa?

If you’re planning to study in Australia, one of the most common questions is: how much bank balance do I need for an Australia student visa (Subclass 500)?

The short answer: you must be able to show funds to cover tuition + living costs + travel (and any family costs if dependents accompany you).

Below is a clear, up-to-date explanation and a simple way to calculate the amount you should demonstrate.

Minimum living-cost figure you must show

From May 2024 the Australian Government increased the benchmark for living costs for student visa applicants. Applicants are generally expected to be able to show evidence that they can cover living expenses of A$29,710 for 12 months (this is the standard figure referenced for visa financial capacity). This amount is in addition to the tuition fees you must pay or show you can pay.

What to include in your total bank-balance calculation

When advisers or visa officers look at your financial evidence, they expect you to be able to cover:

1. Tuition fees — at least the first year’s tuition (or the deposit/invoice you’ve received).
2. Living costs — A$29,710 per year is the current benchmark.
3. Travel expenses — a modest buffer for flights/initial travel
4. OSHC (Overseas Student Health Cover) — health insurance estimate for your stay.
5. Additional funds for dependents — if a spouse/child is joining, extra amounts are required (the government publishes separate figures for partners and children)

Practical example: if your first-year tuition is A$20,000, add A$29,710 for living costs, plus OSHC and travel — you should be able to show roughly A$51,000+ as evidence (exact totals depend on your tuition and whether family members join). Use your actual tuition invoice for precision.

What counts as acceptable proof of funds?

You can use a mix of the following documents to prove financial capacity:

• Bank statements in your or your sponsor’s name (officially stamped if required)
• Education loan sanction letter showing approved amount
• Scholarship award letters (official)
• Sponsor’s income proof (salary slips, tax returns) and a letter of support
• Fixed deposits or investments that are readily accessible

Government and university guidance highlight that a combination of documents is common; the key is clarity and authenticity

Recent policy context — why amounts changed

Australia updated its financial capacity rules recently as part of broader immigration changes (including visa fee changes and tightened checks). These changes are intended to ensure applicants can genuinely support themselves while studying and reduce risky recruitment practices. Keep this in mind and check official sources before applying.

Quick checklist before you apply

• Calculate total = first-year tuition + A$29,710 + OSHC + travel (+ dependent amounts if needed).
• Gather bank statements, loan letters, scholarship documents, sponsor ITRs.
• Make sure your proof is clear, dated, and consistent with the names on the application.
• If you have a sponsor, prepare a signed sponsorship letter and their income documents.
• Check the latest Department of Home Affairs guidance and your university’s advice because figures and documentation expectations are updated from time to time.

Final tips

• Don’t guess — use exact tuition invoices and current official figures.
• Be transparent — inconsistent or unclear financial documents cause delays or refusals.
• Seek expert help if you’re unsure how to present a sponsor’s finances or a loan sanction. A short consultation can save time and stress.