What you may need to show and how to prepare your financial documents.
Thinking about studying in Australia? One of your first questions is likely to be how much money you’ll need. Alongside course fees and day-to-day costs, there’s a visa requirement to plan for: the Australian immigration department may ask you to show that you can afford your stay.
This is known as financial capacity. We’ll explain what it means, how the visa calculation works and how to put together a budget for your trip.
What does financial capacity mean?
You need to show that you have access to enough money for your studies, travel and living costs in Australia. That might be your own savings or, depending on your circumstances, support from your family, a loan or a scholarship.
If the immigration department asks for this evidence, for example, you could provide bank documents showing how much money you have and where it came from. The amount used in the calculation isn’t a fee you pay. It’s a way of checking that you can cover your costs.
Does every student need to provide financial documents?
Every applicant needs enough money for their stay, but the documents you must include when you apply can differ. Your checklist may depend on your passport country, the school you choose and your circumstances.
If your application asks for financial evidence, you need to include it from the start. The immigration department may also ask for it later, even if it wasn’t on your initial checklist. At Australian Way, we’ll go through the documents you need for your situation.
How much money do you need to show?
For a student travelling alone, the immigration department looks at three things: living costs, course fees and travel. The figures below are used to work out the funds needed for your visa. We’ll cover the costs you’ll actually need to pay to arrange your trip further down.
1. Living costs
The living-cost figure for a twelve-month stay is 29,710 AUD. It’s used to calculate what you’ll need for expenses such as accommodation, food and transport.
For a stay of less than a year, the amount is worked out according to the number of days you’ll spend in Australia. For two years or longer, this part of the visa calculation still uses twelve months, rather than doubling the amount for two years.
2. Course fees
Add the cost of your first twelve months of study. If your course is shorter than a year, use the fee for the whole course.
You can subtract fees you’ve already paid, as long as you have evidence, such as a receipt or an enrolment confirmation showing the payment. For example, if the course costs 12,000 AUD and you’ve paid 3,000 AUD, you’d count the remaining 9,000 AUD.
3. Travel costs
If you’re applying from Spain or Latin America, allow approximately 2,000 AUD for travel in the visa calculation. Your actual flight may cost a different amount.
An example: studying in Australia for a year
Say you’re travelling alone from Spain or Latin America for twelve months of study. Your course costs 12,000 AUD and you’ve already paid 3,000 AUD. If you’re using the funds option to show financial capacity, the calculation would be:
- Twelve months of living costs: 29,710 AUD.
- Unpaid course fees: 9,000 AUD, after subtracting the 3,000 AUD already paid.
- Travel allowance: 2,000 AUD.
- That brings the total to 40,710 AUD. If you’re asked to show your funds, you’ll need documents proving that you can access this money. You don’t pay 40,710 AUD when you apply for the visa, and it isn’t an exact prediction of what you’ll spend.
What if you’re going for less than a year?
For a stay of less than twelve months, the living-cost amount is adjusted to the number of days you’ll be in Australia. Divide the annual figure of 29,710 AUD by 365, then multiply it by the number of days you plan to stay.
For example, a stay of 182 days gives a living-cost figure of approximately 14,814 AUD. You’d then add your unpaid course fees and the travel allowance.
If the full course costs 6,000 AUD, you’ve already paid 2,000 AUD and you’re applying from Spain or Latin America, the example would look like this:
- Living costs for 182 days: approximately 14,814 AUD.
- Unpaid course fees: 4,000 AUD.
- Travel allowance: 2,000 AUD.
The total would be approximately 20,814 AUD. This is an example: your actual dates and course fees will change the result. We’ll count all the days you’ll spend in Australia, including time before or after your course.
What if your course lasts two years?
The visa funds calculation uses living costs and course fees for the first twelve months, plus travel. A two-year course doesn’t automatically mean you need to double that amount.
You’ll still need to plan how you’ll pay for study and living costs in the second year. The visa figure is a minimum calculation; your full stay may cost more.
How can you show that you have the money?
The evidence you provide will depend on how you’re funding your studies. Accepted options include money held with a financial institution, a government loan or a loan from a financial institution, and scholarships or similar support.
The immigration department may also ask where the money came from and whether you’ll be able to use it. A balance certificate shows what’s in an account on a particular day. Bank transactions and other records can help explain how the money built up.
If you’ve received a large transfer, keep documents explaining its source. If you’re using a loan or scholarship, we’ll go through the terms with you and check which documents show when you’ll have access to the money.
Can your family help fund your studies?
Yes. If a family member is providing the money, you’ll need to explain who they are, how you’re related and how you’ll access the funds. You may need evidence of their identity, your relationship and the financial support.
There’s also an alternative to showing funds: evidence that your parents or partner earned a personal annual income of at least 87,856 AUD in the twelve months before you apply. If you’re including family members, the figure is 102,500 AUD. If both parents work, their combined income can be considered.
For this income option, you need official government documents, such as tax assessments less than twelve months old. Bank statements or a letter from an employer don’t replace those documents. We’ll help you work out which option fits your circumstances.
What if your partner or children are coming too?
First, we’ll need to check whether you can include them in your application. Since 2 October 2026, this has been limited to certain exceptions.
If they can come with you, the funds calculation will also need to include their living and travel costs, along with any school fees and health insurance that apply. The examples in this article are for someone travelling alone.
How much will you actually spend?
The amount the immigration department may ask you to show and your personal budget are related, but they’re different calculations. Your budget depends on the course and city you choose, where you live and how long you stay.
Before travelling, allow for the initial course payment, visa application fee, health insurance and flights. Once you’re in Australia, you’ll have accommodation, food, transport and any remaining course instalments to pay.
Most schools offer the option of paying course fees in instalments. We’ll explain what you need to pay when you book, how much the later payments will be and when they’re due.
Your living costs may differ from the figure used for the visa, and could be higher. That’s why we’ll help you build a budget around your city and plans, without relying on finding work as soon as you arrive.
Frequently asked questions
Does all the money need to be in one account?
Not necessarily. There are different ways to show your funds. What matters is being able to explain where the money came from and prove that you can access it.
Does the money need to stay in the account for a set period?
The immigration department’s guidance in this section doesn’t set a general rule requiring a fixed number of days. You do need to explain where the money came from and show that you can access it. Keep the paperwork for any recent transfer. We’ll also check whether your school asks for additional documents.
Can I use a loan as evidence of funds?
Yes. A government loan or a loan from a financial institution can be one way to show that you have access to the money. You’ll need to check its terms and provide the relevant documents.
Want to study in Australia but unsure how much you’ll need? Tell us which course interests you and when you’d like to travel. At Australian Way, we’ll help you work out the funds needed, plan your budget and arrange the next steps. Our advice is free and there’s no obligation.
