Increase to the Financial Capacity Requirement for Student and Student Guardian visas

​​​From 10 May 2024, the amount of money that Student and Student Guardian visa applicants need to have to be eligible for the visa is increasing.

The financial capacity requirement has been updated to align with a proportion (75 per cent) of the national minimum wage. This will better indicate the amount of money considered reasonable to provide a minimum standard of living while studying in Australia. This proportion considers that students are out of course session for 25 per cent of the year. During this time they may return home or have access to unrestricted work.

International students who can show they meet this new financial capacity requirement are better able to make informed decisions about their future.

Students are less likely to:

  • be in financial distress once in Australia
  • breach their visa conditions by working more hours than their visa conditions allow
  • be vulnerable to worker exploitation.

The below table outlines the funds you need to show to meet the minimum financial capacity requirement, which will be changed from 10 May 2024.

Minimum required funds to meet financial capacity requirements

Financial capacity requirement
before 10 May 2024
Financial capacity requirement
after 10 May 2024
Primary applicant
AUD24,505
AUD29,710
spouse or de facto partner of
the Student primary applicant
(not applicable to
Student Guardian applicant)
AUD8,574
AUD10,394
dependent child
AUD3,670
AUD4,449
annual school costs
AUD9,661
AUD13,502
personal annual income if
there is no member of the
family
AUD72,465
AUD87,856
personal annual income
where there is a member
of the family unit
AUD84,543
AUD102,500

We will assess applications lodged before 10 ​May 2024 under the financial capacity requirements in effect at the time of application.

For more information, see Subclass 500 Student visa and Subclass 590 Student Guardian visa.​