Changes to Student Visa Living Cost Requirement from 1 July 2012

From 1 July 2012, as part of an annual review of cost of living increases, the funds required for student visa applicants to demonstrate their ability to meet living costs in Australia will increase from $18,000 to $18,610 a year.

International students are required to demonstrate and/or declare that they have genuine access to sufficient funds to be granted a Student visa. Applicants may have to demonstrate sufficient funds to cover these expenses for the first one or two years in Australia, depending on their assessment level.

This helps to ensure students are better able to make the most of their studies and have a safe and enjoyable experience in Australia. Funds should be sufficient to contribute to the cost of travel, tuition, school costs of any dependents, and living costs.

Click here to view the full details on the DIAC website.