Key points
- The government of Australia introduced new minimum income requirements for foreign national students on October 1, 2023
Overview
The government of Australia introduced new minimum income requirements for foreign national students on October 1, 2023. As a result, student visa applicants must hold a minimum of AU $ 24,505 in savings to cover annual living costs in the country. Student applicants accompanying a spouse or dependent family member must also meet new income requirements.
What are the Changes?
The Australian government updated student visa holders’ minimum fund requirements on October 1, 2023. Student visa savings requirements have not been updated since 2019. According to the government, this increase will provide proof that foreign national students can afford higher living expenses in Australia.
Looking Ahead
Continue to check the government of Australia’s website for the latest updates and information.
Written by: Jessie Butchley, Global Immigration Writer, Envoy Global
Source: Government of Australia
