Australia increases international students’ financial requirement

The Australian Government announced its latest change for international students wishing to apply to study in Australia. The new financial capacity requirement will be increased to $29,710.

The latest change will apply to all international students and their guardians who intend to lodge a visa (Subclass 500 or Subclass 590) application on or after 10 May 2024.

All applicants will be given additional time to meet the new requirements during the first week of the changes. In addition, visa applications lodged before the new requirement effective date won’t be impacted. They will be assessed under the financial capacity requirements at the time of application.

Reminder to all applicants, before applying for their visa to check they have enough money to meet their travel, tuition and living costs in Australia.

For more information on the latest changes to Australia’s Student and Student Guardian visas, please visit the Department of Home Affairs website.