Financial Capacity for Student and Student Guardian visas

Legislative Instrument – IMMI 16/018 – F2016L00639 Migration Regulations 1994 – Specification of Evidence of Financial Capacity for Subclass 500 (Student) Visas and Subclass 590 (Student Guardian) Visas, specifies the amount of funds required to demonstrate sufficient funds for student, family unit members, spouse and parent annual incomes; and timeframe.

Item 1 (a) – Student visa Subclass 500 – demonstrate sufficient funds to meet the following:

  • travel expenses, and
  • living costs and expenses as specified in Item 4 for the first 12 months of applicant’s stay
  • annual course fees for the first 12 month of the applicants stay.

Item 1(b) – Accompanying family members of Student visa applicant 

  • travel expenses, and
  • living costs and expenses for the first 12 months of applicant’s stay, and
  • all school fees as specified in Item 6 for each school aged dependent child.

OR

  • the primary applicant’s parents, spouse or partner has a personal annual income specified in Item 7 or Item 8

OR

  • The applicant has provided a completed AASES form as defined in Reg 1.03

 

Item 2 (a) – specifies the financial capacity required for secondary applicants  making a combined application with the primary Student applicant in Item 1

Item 2 (b) – specifies the financial capacity required where the Student family members’ application is not combined with the primary applicant’s application

 

Item 3 (a) – Student Guardian visa Subclass 590:

  • travel expenses
  • living costs and expenses in Item 4 of this Instrument for the first 12 months of applicant’s stay

Item 3 (b) – Accompanying family members Student Guardian visa applicant:

  • travel expenses
  • living costs and expenses in Item 4 of this Instrument for the first 12 months of applicant’s stay

OR

  • the primary applicant’s spouse or partner has a personal annual income specified in Item 7 or Item 8 of this Instrument

 

Item 4 – Specifies the following annual living costs:

  • Student: $19,830 
  • Student Guardian: $19,830 
  • Spouse or de-facto partner: $6,940 
  • Any dependent children: $2,970

 

Item 5 – Specifies the following sources of evidence of financial capacity: 

  • money deposit with a financial institution
  • loan with a financial institution
  • government loans
  • scholarship or financial support

 

Item 6 (a) & (b) – Specifies for each school age child seeking to satisfy secondary criteria the following amounts:

  • annual minimum amount for schooling $8000 per annum, unless
  • enrolled in a State or Territory school where the fees have been waived due to the primary applicant’s status as a doctoral degree student, Foreign Affairs student, Defence student or Commonwealth sponsored student

 

Item 7 (a) & (b) – Specified annual income to satisfy Items 1,2, and 3 of this Instrument: 

  • $60,000 for an individual Subclass 500 applicant, or
  • $70,000 if, one or more members of the applicant family unit are seeking to satisfy the secondary criteria for the Student visa, or, Subclass 590 Student Guardian visa applicant.

 

Item 8: Specifies as evidence of personal income:

  • Official Government documentation has been issued in the 12 months immediately before the application was made.

 

This Instrument commences on 1 July 2016