List of requirements to prove funds for studying in Australia

Students who are preparing to apply to study in Australia must make basic preparations to confirm that they can meet the requirements and can enroll smoothly. Next, take a look at the list of requirements to prove funds for studying in Australia.

Basic requirements

1. Calculation method

The general calculation method is: living expenses for the first 1.5 years + travel expenses + tuition fees for the first 1.5 years

Living expenses:

The main applicant’s living expenses in Australia are generally 20,290 Australian dollars per year (the amount given by the Immigration Bureau may vary according to the actual situation); then, the living expenses for one and a half years are 30,435 Australian dollars, and so on.

Travel expenses:

Round trip travel expenses are calculated as AUD 2,000.

Tuition fee:

Tuition fee composition: language class tuition + main course tuition. After the language class, preparatory courses, GD, GC and other courses are all counted as main courses.

The tuition fee is calculated based on the offer/COE. Different schools and different courses have different fees.

2. Amount requirements

Study time in Australia >1.5 years

Calculation method: 1.5 years of living expenses + travel expenses + 1.5 years of tuition fees

For example, Xiao Ming has 10 weeks of language and 2 years of professional courses:

10 weeks of language classes ≈ 6,000 Australian dollars

Tuition fees for subsequent professional courses ≈ 33,333 Australian dollars

Total amount≈ 30435+20033333= 65768 Australian dollars

Just follow the exchange rate at the time of calculation. The cost should be high rather than low. For example, if 329,000 is calculated, round the whole number and raise it to 330,000.

The total length of study in Australia ≈1.5 years

For the 1.5-year program, you still need to declare that you have enough expenses for 1.5 years. The calculation method is the same as above

The total length of study in Australia = 1 year

For 1-year studies, just declare that you have enough expenses for one year

Calculation method: One year of tuition + living expenses + travel expenses

3. Deposit period confirmation

The guarantee deposit only needs to cover the entire visa processing cycle, that is to say, before applying for the visa, get The bank can just freeze the funds and dispose of them at will after obtaining the signature. Generally speaking, the cycle is about 2 months.

How to apply?

1. The amount of security deposit required for an Australian study visa

The security deposit for a study visa required by the Australian Immigration Bureau should be no less than the total amount of money spent in the past 3 years before studying abroad. The total of tuition fees and living expenses. If the study abroad period is less than 3 years, the deposit should not be less than the sum of tuition fees and living expenses for all courses.

The actual living expenses while studying in Australia vary from person to person. The Australian Immigration Bureau stipulates that when calculating the deposit, it is calculated as AUD 18,000 per year. If you are married, you will need to pay an extra AU$6,300 per year; if you have children, you will need to add AU$3,600 per year for the first child, and AU$2,700 per year for each child starting from the second. In addition, you need to keep an additional AUD 200 for travel and other incidental expenses.

2. The forms of security deposits recognized by the Australian Immigration Department and the application methods

There are two forms of security deposits recognized by the Australian Immigration Department: one is a bank deposit certificate, and the other is a study loan. prove.

a) Bank deposit certificate

Any recognized bank in China can apply for a deposit certificate for an Australian study visa. If you or your family already have a deposit in the bank that is equal to or more than the required deposit, and the deposit period exceeds 6 months, you can use it to apply for a deposit certificate for studying abroad. That is to say, the deposit is frozen for a certain period of time. The freezing period is usually 3 months and is certified by the bank. To use a bank deposit certificate as a deposit for studying abroad, you need to submit the following two documents:

Bank deposit certificate

A deposit certificate or passbook with a deposit period of more than 6 months corresponding to the deposit certificate< /p>

b) Study abroad loan

Study abroad loan is a convenient and flexible form of deposit provided by Australia for international students. When applying for a study abroad loan, you can use cash or real estate as collateral. If you use cash as collateral, you can usually get a loan for 90% of the mortgage amount. It is worth noting that some banks also provide the service of using 20% ??of the required margin to obtain a full margin loan. However, this type of loan is not encouraged.

The time period of the study abroad loan (reflected in the contract) must be consistent with the length of your course. If your course is longer than 3 years, then just take a loan for 3 years.