The Australian Government is increasing the financial capacity requirement for Student and Student Guardian visas. The increase was announced on 8 May 2024 and will apply to visa applications lodged on or after 10 May 2024.

The new financial capacity requirement is AUD 29,710 for the primary applicant. This change aims to ensure that international students have enough funds to support themselves while studying in Australia and are less likely to face financial hardship or breach their visa conditions by working excessive hours.

Applications lodged before 10 May 2024 will be assessed under the previous financial capacity requirements. Visa applicants who lodge applications within the first week of the changes coming into effect will be given additional time to demonstrate their capacity to meet the new requirements.

For more information on the increased financial capacity requirement and the evidence applicants can provide, visit the Department of Home Affairs website at Subclass 500 Student visa and Subclass 590 Student Guardian visa.