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

 

Universities