Cost Assessment
According to Schedule 5A of Migration Regulation 1994, the student has to meet financial requirement at the time of student visa lodgement.
Based on Michael Knight report, the goverment is implementing his recommendation to change financial requirement. According to Michael Knight's recommenation, all countries will be treated same as Country Assessment Level 1 regardless of countries.
Under Country Assessment Level 1 financial requirement, student has to declare on his/her visa application that student has sufficient funds to cover himself/herself and his/her family members for the duration of their stay in Australia for:
Living costs for main applicant
Add: Living costs for spouse and other child dependents
Add: Tuition Fee of Main student
Add: School Tuition Fee of Childs
Expenses | Per Person | Amount required in AUD |
---|---|---|
Travel | Yourself | Return air fare to Australia |
Family members | One return air fare to Australia per person | |
Tuition | Yourself | Course fees |
Children aged 5-18 | AUD8000 per year | |
Living | Yourself | AUD18 000 per year |
Partner | AUD6300 per year | |
First child | AUD3600 per year | |
Each other child | AUD2700 per year |
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