When applying for an Australian Student Visa (Subclass 500), one of the most important requirements you must meet is demonstrating financial capacity. This requirement ensures that you can support yourself — and any family members accompanying you — while studying and living in Australia.

Failure to provide sufficient financial evidence is one of the most common reasons for student visa refusals. Here’s everything you need to know to get it right the first time.

💰 How Much Money Do You Need to Show?

You must demonstrate that you have enough funds to cover:

• Course fees (for the first 12 months or for the full course if it is shorter than 12 months)

• Living expenses – at least AUD $16,125.03 per year for a single applicant

• School costs for any accompanying school-aged dependants

• Travel costs to and from Australia

This financial evidence must show that you can access funds immediately when needed — not just that the funds exist somewhere.

✅ Acceptable Evidence of Financial Capacity

The Department of Home Affairs accepts the following as valid proof of funds:

1. Money Deposit

   • Bank savings account statement

   • Term or fixed deposits with a recognised financial institution

2. Approved Loan

   • Student or personal loan specifically for education-related expenses

   • The loan must not already be committed to other purposes

3. Government Loans or Sponsorship

   • Government-issued financial assistance or loans

   • Official documentation confirming disbursement

4. Scholarship or Financial Support

   • Award letter from a recognised institution or government body

   • Confirmation of the amount awarded and duration of coverage

📄 What Your Evidence Should Include

To satisfy the visa requirements, your documentation should show:

• Current balance – via a bank certificate clearly stating your available funds

• Transaction history – last three months’ bank statements showing consistent balance or deposits

• Source of funds – where the money came from (salary, savings, business income, etc.)

👨‍👩‍👧 Family-Sponsored Applications

If a parent or spouse is funding your studies, you must also show their annual income.

• Evidence must be in the form of an official government tax assessment issued within the last 12 months.

• For single applicants, the annual income requirement is published on the official Home Affairs website.

• If your visa application includes family members, you must meet the higher income threshold also listed on the Home Affairs website.

🖊️ If the Funds Are Not in Your Name

If the funds are held by another person (e.g., a parent or legal guardian), you must provide:

• Signed letter of support confirming the money is available for your use

• Identification of the sponsor (passport or national ID card with full name and signature)

• Proof of relationship (birth certificate, family card, or other official documentation)

🔑 Key Takeaways

• Show AUD $16,125.03 for living expenses, plus tuition, school fees, and travel costs

• Provide clear, verifiable documents — bank certificates, 3-month transaction statements, tax assessments

• If sponsored, show proof of relationship and a signed letter of financial support

• Make sure the funds are readily available and can be used to support you during your stay

Properly preparing your financial capacity evidence strengthens your Genuine Temporary Entrant (GTE) statement and increases your chances of visa approval.