{"id":13688,"date":"2024-05-09T22:57:37","date_gmt":"2024-05-09T22:57:37","guid":{"rendered":"https:\/\/www.educli.com\/blog\/?p=13688"},"modified":"2026-03-03T11:20:13","modified_gmt":"2026-03-03T11:20:13","slug":"australias-financial-requirement-for-international-students-rises-again","status":"publish","type":"post","link":"https:\/\/www.educli.com\/resources\/australias-financial-requirement-for-international-students-rises-again\/","title":{"rendered":"Australia\u2019s financial requirement for international students rises again"},"content":{"rendered":"

Australia\u2019s financial requirement for international students rises again<\/b><\/h1>\n

 <\/p>\n

Australian government raised the amount of savings needed by international students to gain student visas from 10 May 2024.\u00a0<\/span><\/p>\n

 <\/p>\n

The financial capacity requirement is increased for the second time in seven months and the international students are now required to show proof of savings of at least AUD$29,710. The amount was recently raised to AUD$24,505 from AUD$21,041 in October 2023. Applications lodged before May 10 will be assessed using the financial capacity requirements in effect at the time the application was made, the Department of Home Affairs confirmed.<\/span><\/p>\n

 <\/p>\n

The financial capacity requirement has been updated to align with a proportion \u2013 75% \u2013 of the national minimum wage, the Department of Home Affairs said in a <\/span>statement<\/span><\/a> announcing the change.<\/span><\/p>\n

 <\/p>\n

The department said the change means students are less likely to be in financial distress once in Australia, less likely to breach visa conditions such and working hours and be less vulnerable to <\/span>\u201cworker exploitation\u201d<\/span><\/i>.<\/span> \u201cInternational students who can show they meet this new financial capacity requirement are better able to make informed decisions about their future,\u201d<\/span><\/i> it continued. <\/span>\u201cThis proportion considers that students are out of course session for 25% of the year\u201d.<\/span><\/i><\/p>\n

Minimum required funds to meet financial capacity requirements<\/b><\/h3>\n\n\n\n\n\n\n\n\n\n
\u00a0<\/span><\/td>\nFinancial capacity requirement before 10 May 2024<\/span><\/td>\nFinancial capacity requirement after 10\u200b\u200b May 2024<\/span><\/td>\n<\/tr>\n
primary applicant<\/span><\/td>\nAUD24,505<\/span><\/td>\nAUD29,710<\/span><\/td>\n<\/tr>\n
spouse or de facto partner of the Student primary applicant (not applicable to Student Guardian applicant)<\/span><\/td>\nAUD8,574<\/span><\/td>\nAUD10,394<\/span><\/td>\n<\/tr>\n
dependent child<\/span><\/td>\nAUD3,670<\/span><\/td>\nAUD4,449<\/span><\/td>\n<\/tr>\n
annual school costs<\/span><\/td>\nAUD9,661<\/span><\/td>\nAUD13,502<\/span><\/td>\n<\/tr>\n
personal annual income if there is no member of the family<\/span><\/td>\nAUD72,465<\/span><\/td>\nAUD87,856<\/span><\/td>\n<\/tr>\n
personal annual income where there is a member of the family unit<\/span><\/td>\nAUD84,543<\/span><\/td>\nAUD102,500<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\u201cIs it fair? I am sure there are better ways to reduce International student numbers in Australia,\u201d<\/span><\/i> wrote Bobby Abraham, board member at <\/span>Independent Higher Education Australia<\/span><\/a>.<\/span><\/p>\n

 <\/p>\n

\u201cThis brings to light the shortsightedness of the decision makers adding to the confusion and uncertainty within the education sector.\u201d<\/span><\/i><\/p>\n

Meanwhile, Edward Slade, manager and director at <\/span>Schoolhouse Solutions<\/span><\/a> said that the latest increase is a <\/span>\u201cfurther attempt by the government to make studying [in Australia] more difficult and less attractive for international students\u201d.<\/span><\/i><\/p>\n

 <\/p>\n

The updated financial capacity requirements follow a set of changes made to Australia\u2019s international education sector over the past 6 months.\u00a0<\/span><\/p>\n

In March, it was announced that the English language requirements for student visas were to be increased from IELTS 5.5 to 6.0 and for <\/span>graduate visas <\/span><\/a>from IELTS 6.0 to 6.5.<\/span><\/p>\n

 <\/p>\n

This move is in keeping with an earlier migration strategy that outlined several essential steps to reform the migration system, including measures for the international education sector. At the same time, everyone in Australia is awaiting the May budget, which will include a reported hike in visa fees for overseas students from the current $710 to an unknown amount.<\/span><\/p>\n

 <\/p>\n

#internationaleducation #studyinaustralia #immigration #educli<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Australia\u2019s financial requirement for international students rises again   Australian government raised the amount of savings needed by international students […]<\/p>\n","protected":false},"author":3,"featured_media":13689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[131],"tags":[],"class_list":["post-13688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-education"],"yoast_head":"\nAustralia\u2019s financial requirement for international students rises again - 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