How Much Money You Need to Show for an Australian Student Visa, and What Counts as Proof
By Muntasir • Published Jul 29, 2026 • Updated Sep 20, 2026 • Visas & Student Mobility, Canadians Studying Abroad
The Australian subclass 500 visa requires proof you can cover AUD 29,710 in basic living costs, plus your course fees and travel, before a case officer grants your visa. Bank statements, term deposits, loans and sponsor letters all count as proof, as long as the funds are genuinely available to you.
💵 AUD 29,710 is the baseline living cost figure for the primary applicant
Add separate amounts for an accompanying partner or child
Course fees and return travel come on top of the living cost figure
Funds need to sit in an account you or your sponsor controls
⏱️ Check the official calculator before you lodge, since the figure changes
The Baseline Figure You Need to Show
The minimum financial capacity requirement for a subclass 500 applicant sits at AUD 29,710 for basic living costs, according to Study Australia . This figure covers twelve months of living expenses for you as the primary applicant. It does not include your course fees or your travel costs, which you show separately.
Treat this number as a floor, not a target. Actual living costs in Sydney or Melbourne run higher than this baseline for most students, and the Department of Home Affairs expects you to fund your real costs, not clear the minimum threshold on paper alone.
What the Baseline Figure Does Not Cover
| Cost | Included in the AUD 29,710 baseline |
|---|---|
| Your living costs for 12 months | Yes |
| Course fees already due for your first year | No, show separately |
| Return airfare | No, show separately |
| An accompanying partner's living costs | No, additional amount required |
| An accompanying child's living costs | No, additional amount required |
Home Affairs adds a set amount for a partner who travels with you and a smaller set amount for each child. These add-on figures move together with the baseline, so confirm the exact current numbers on the official visa document checklist tool rather than relying on a figure printed in an article, since Home Affairs updates all three numbers together.
How Officers Verify Your Documents
An officer checks that the balance in your statement matches the amount your application claims, that the account belongs to you or an eligible sponsor, and that the transaction history looks consistent rather than showing a single large deposit with no prior activity. A sponsor's letter gets checked against evidence of that sponsor's own income, such as pay stubs, a notice of assessment from the Canada Revenue Agency, or business financial statements if the sponsor is self-employed.
What Happens If Your Evidence Falls Short
If your documents do not clearly show the required amount, an officer can request more evidence with a set deadline, or refuse the application if the file does not meet the requirement after that request. Respond to any request for more evidence quickly and with exactly what was asked for, since a partial or late response weakens your case further.
What a Sponsor Letter Needs to Include
If a parent or another sponsor covers your costs, their letter should state their name, their relationship to you, the amount they commit to providing, and reference supporting evidence of their own income or savings. A letter alone without supporting bank or income evidence behind it carries little weight.
What Counts as Acceptable Proof
| Proof type | What officers look for |
|---|---|
| Bank or savings account statement | Your name or your parent's name, a balance genuinely available to you, not a one-time deposit right before you apply |
| Term deposit | A statement from your Canadian bank showing the locked-in amount and maturity terms |
| Loan approval | An approval letter from a bank or other financial institution, not an informal loan from family |
| Scholarship or sponsorship letter | An official letter from your university, government body or employer stating the amount and duration of the award |
| Government student loan | An approval letter from a Canadian federal or provincial student loan program showing the approved amount |
Officers look for funds genuinely available to you and your family, not funds that appear only long enough to satisfy the application. A large deposit that lands in an account days before you apply draws more scrutiny than a balance with a stable history.
Currency and Document Tips for Canadian Applicants
Show your funds in Canadian dollars with a clear statement of the AUD equivalent, or convert them yourself and note the exchange rate and date you used. Submit official bank letters or statements on letterhead rather than screenshots of an app. If a document is not in English, attach a certified translation alongside the original.
Keep every document dated close to your lodgement date. Older statements do not reflect your current financial position, and a case officer can ask for updated evidence if your file sits for months before a decision.
Start Gathering Evidence Early
Bank letters and term deposit statements take time for a Canadian financial institution to issue, especially if you need an officer's signature or a specific format. Request these documents several weeks before you plan to lodge, not the week you plan to submit, so a slow branch response does not delay your entire application.
Where to Confirm the Current Figure
Financial capacity thresholds move with cost-of-living data, so a number correct for one intake can shift by the next. Check the visa application checklist tool linked from Study Australia or the Department of Home Affairs site directly before you start collecting documents, and again right before you lodge.