Australia continues to be a premier destination for international students, offering top-tier education and vibrant cultural experiences. However, understanding and meeting the financial requirements for a student visa is crucial for a successful application. In 2025, these requirements have undergone significant changes to align with economic shifts and policy updates.
Updated Financial Capacity Requirements
As of 10th of May 2024, the Australian government revised the financial capacity requirements for Student (Subclass 500) and Student Guardian visas. Applicants must now demonstrate:
- Living Expenses: Evidence of funds totalling at least AUD 29,710 to cover 12 months of living costs for the student. This increase ensures that students can adequately support themselves during their stay.
- Accompanying Family Members: If accompanied by family members, additional funds are required to cover their living expenses.
- Annual Income Option: Alternatively, applicants can provide evidence that their parents or partner had a personal annual income of at least AUD 62,222 in the 12 months immediately before the application. If bringing family members, this amount increases to AUD 72,592.
Visa Application Fee Increase
Effective 1st of July, 2024, the visa application fee for the Student (Subclass 500) visa increased from AUD 710 to AUD 1,600. Prospective students should factor this into their budgeting plans.
Genuine Access to Funds Requirement
In addition to meeting the minimum financial capacity requirements, student visa applicants for Australia must also prove that they have genuine access to funds. This requirement ensures that international students are financially stable and capable of covering their tuition fees, living expenses, and other costs throughout their stay in Australia.
What Does “Genuine Access to Funds” Mean?
The Australian Department of Home Affairs assesses whether the funds declared in the visa application are:
- Legally obtained – The applicant must provide evidence showing the legitimate source of funds.
- Available for use – The funds must not be restricted for other purposes, such as being locked in investments that cannot be liquidated.
- Sufficient for the entire stay – The funds should cover tuition fees, travel, and living costs for at least 12 months.
How to Prove Genuine Access to Funds?
Applicants must provide detailed financial evidence, such as:
- Bank Statements – Showing a stable account balance with the required funds over a period of at least three to six months.
- Employment and Income Proof – Payslips, tax returns, or employer statements confirming a steady income.
- Education Loan Documents – Loan approval letters from a recognized financial institution, ensuring the loan is accessible for study-related expenses.
- Financial Sponsorship Proof – If a parent, relative, or another sponsor is funding the student, they must provide income statements, bank records, and a formal affidavit of financial support.
- Fixed Deposits & Investments – Proof of liquid assets that can be withdrawn to cover expenses.
Common Reasons for Visa Refusal Due to Lack of Genuine Access
Even if a student meets the financial capacity threshold, their visa may still be refused if:
- Funds are suddenly deposited into a bank account without a clear source.
- The account balance does not show consistent financial stability.
- A sponsor’s income is insufficient or unreliable.
- The declared funds are tied up in non-liquid investments with withdrawal restrictions.
Tips to Ensure Compliance
- Plan early – Maintain a steady bank balance and avoid last-minute deposits.
- Provide strong documentation – Include salary slips, tax records, and bank statements.
- Use reliable financial institutions – Ensure all documents come from recognized banks and lenders.
- Be transparent – Clearly explain the source of funds and provide additional proof if required.
How Much Money Is Needed for ‘Show Money’ in 2025?
In addition to proving genuine access to funds, international students applying for an Australian Student Visa (Subclass 500) must meet the minimum financial requirements, commonly referred to as “Show Money.” This ensures that students can support themselves financially during their studies without needing to rely on unapproved work or external financial aid.
Minimum ‘Show Money’ Requirements for 2025
As of May 10, 2024, the Australian government increased the financial capacity requirement. Students must now demonstrate proof of funds covering 12 months of expenses, including tuition fees, living costs, and travel expenses.
| Expense Type | Required Amount (AUD) |
| Living expenses (student only) | $29,710 |
| Living expenses (spouse/partner) | $10,394 |
| Living expenses (per child) | $4,449 |
| Travel costs (one-way flight) | $2,000 (estimate) |
| Tuition fees | Varies by institution |
For example, if a student is bringing a spouse and one child, they must show:
$29,710 (student) + $10,394 (spouse) + $4,449 (child) + tuition fees + travel costs.
Alternative to ‘Show Money’ – Annual Income Requirement
Instead of showing a bank balance, students can meet the financial requirement by providing evidence that their parents or partner earned a minimum annual income in the 12 months before applying:
- $62,222 (if applying alone)
- $72,592 (if bringing family members)
Income proof can include:
- Tax returns
- Employer salary statements
- Business income documents
Important Notes on ‘Show Money’
- The funds must be in an accessible bank account or approved financial institution (not locked in investments).
- The funds should be maintained for at least 3–6 months before applying.
- Large sudden deposits may raise red flags unless justified with proper documentation.
- If a sponsor is providing the funds, they must show financial stability and a genuine relationship with the student.
Conclusion
Meeting Australia’s student visa financial requirements is crucial for international students seeking to study in the country. With increased financial capacity thresholds, visa fee hikes, and stricter Genuine Access to Funds assessments, applicants must prepare their financial documents thoroughly.
By understanding and complying with these regulations, students can enhance their chances of a successful visa application and enjoy a smooth academic journey in Australia.
For more detailed assistance, NB Migration Law is available for a free consultation. Contact us today!