How Much Money Is Required For Student Visa In Australia

Studying in Australia is a dream come true for many students. Although it is said that Australia has the best education system in the world, this can be hard to believe unless you have actually been there and experienced it yourself. Unfortunately, the cost of studying in Australia can be quite high so not everyone can afford to move there. So how much money is required for student visa in Australia?

Are you planning to study in Australia? If yes, then this blog is relevant for you. But if you don’t know how much money is required for student visa in Australia, then this article will tell you everything about it.

To study in Australia, you must first get an Australian student visa. For which student will need to fill out a visa application form, pay a visa application fee of 630 UD (~34,313 INR), and attend an interview. Prior to applying for a visa, the applicant must obtain a Confirmation of Enrolment (COE) or a Letter of Offer confirming your acceptance into a program listed on the Commonwealth Register of Institutions of Courses.

Among the various subclasses of visa, you are required to apply for a specific subclass depending on your age, type of program, and duration of stay. In most cases, international students pursuing higher education in Australia apply for the Australian Student Visa Subclass 500 is required (regardless of the field of study opted). 

Some of the important points to know when applying for an Australian University and acquiring a student Visa are:

• You can make online applications through ImmiAccount.
• The application fee is around 630 AUD for subclass 500.
• The funds required as proof for a single student are 62,222 AUD. 

Types of Visa

Australian Student Visa (Subclass 500) 

The student subclass 500 visa came into effect in July 2016. It covers the complete duration of your study program and lets you stay in Australia for up to five years and is in line with your enrollment date. The base application charge for an Australian Visa is 620 AUD (~34,311 INR). Some of the perks of obtaining this student visa include being able to bring a family member to Australia, participate in an eligible course of study, and apply online in or outside of Australia for the choice of program. 

To get the subclass 500 student visa, international students must:

• Enrolled in a full-time on-campus program in Australia
• Have an OSHC (Overseas Student Health Cover) or fall in either of the exempt categories.
• Must be of the minimum age of 6
• Have proof of welfare arrangement, if you are less than 18 years old.