How much is the show money for an Australian visa?

Increased Show Money Requirements for Australian Student Visas

Effective May 10th, 2024, the Australian government has significantly raised the financial requirements for obtaining a student visa. Applicants must now demonstrate they possess at least $29,710 in their bank account, an increase from the previous amount.

Additional Financial Requirements

In addition to the base amount, applicants with accompanying partners will now be required to show an additional $10,394. This brings the total financial requirement for couples to $40,104.

Reason for Increase

The government has cited the rising cost of living in Australia as the primary reason for the increase in show money requirements. The adjustment aims to ensure international students have sufficient funds to cover their expenses during their studies.

Implications for Applicants

The increased financial requirements may pose a challenge for some prospective students. It is crucial that applicants carefully plan and budget to meet these requirements.

Steps to Meet the Requirements

To successfully demonstrate financial capacity, applicants should consider the following steps:

• Open a bank account in Australia and deposit the required funds.
• Provide evidence of scholarships or financial aid received.
• Show proof of financial support from family or guardians.
• Consider obtaining a loan to cover the expenses.

Advice for Students

Prospective students are encouraged to apply for their visas well before the intended start date of their studies to allow ample time to gather the necessary funds. It is also recommended to explore various options to meet the financial requirements, such as part-time employment or living in shared accommodations.

By understanding the increased show money requirements and taking proactive steps to fulfill them, international students can ensure a smooth and successful visa application process.