Thinking of undertaking studies in Australia? Know this, the Department of Home Affairs (DHA) are going through a peak period for Student visa (subclass 500) applications between now and April 2018. As such it is important that you submit your application at least 6 weeks before the commencement of your school term. We recommend that you lodge your 500 visa application as soon as is possible to account for any possible complications.
The DHA may make a decision on your application without asking for more information even if they require it. As such it is imperative that you attach all the documentation upfront. If it is required that you submit evidence of financial capacity, you must not forget to include evidence that demonstrates you have genuine access to those funds.
Read: Student 500 Visa
Genuine Temporary Entrant (GTE)
Do not forget to submit your genuine temporary entrant (GTE) statement! It must contain sufficient information and supporting documentation on:
- Gaps in study or employment
- Reasons the student is studying in a field unrelated to their previous study or employment (if applicable)
- How completing the study will help them fulfil their future plans
The GTE statement cannot be generic and must reflect your personal circumstances.
Cost of living in Australia
From 1 February 2018, the cost of annual living amounts will increase in line with Australia’s consumer price index. From this date, every application where evidence of funds is required should include the updated cost of living amounts in their calculation of funds
Updated 23rd October 2019
Student or guardian: AUD$21,041
Partner or spouse: AUD$7,362
Evidence of financial capacity
The following forms of evidence of financial capacity are specified:
(a) money deposit with a financial institution;
(b) loan with a financial institution;
(c) government loans;
(d) scholarship or financial support.