Do you need a deposit to study in Australia 202 1

Generally speaking, students studying in Australia need to provide a deposit, which is also to ensure that students can successfully study in Australia to complete their studies. So many students and parents are very concerned about the deposit for studying in Australia. Let's learn the details!

Australian study abroad deposit

I. Amount of deposit

The deposit required by the Australian Immigration Bureau for studying abroad visa cannot be less than the sum of all tuition fees and living expenses in the three years before studying abroad. If the study time is less than three years, the deposit shall not be less than the sum of tuition and living expenses of all courses.

The actual living expenses of studying in Australia vary from person to person, and the Australian Immigration Bureau stipulates that the deposit is calculated at 18000 Australian dollars per year. If you get married, you have to calculate an extra 6,300 Australian dollars every year; If there are children, the first child will receive an extra $3,600 a year, and the second child will receive an extra $2,700 a year. In addition, an additional 200 Australian dollars need to be reserved for travel and other miscellaneous expenses.

Second, the form and treatment of deposit

There are two types of deposits recognized by the Australian Immigration Department: one is a bank deposit certificate, and the other is a loan certificate for studying abroad.

A) bank deposit certificate

All recognized banks in China can apply for certificates of deposit for studying in Australia. If there is a deposit equal to or greater than the prescribed deposit in the bank, and the deposit period has exceeded 6 months, it can be used to apply for a certificate of deposit for studying abroad. That is, the deposit is frozen for a certain period of time, usually 3 months, and the bank issues a certificate. To use the bank deposit certificate as a deposit for studying abroad, you need to submit the following two documents: the bank deposit certificate and the deposit certificate or passbook with a term of more than 6 months corresponding to the deposit certificate.

B) study abroad loan

Study abroad loan is a convenient and flexible form of deposit provided by Australia for international students. Loans for studying abroad can be secured by cash or real estate. If you use cash as collateral, you can generally get a loan of 90% of the mortgage amount. It is worth noting that individual banks also provide 20% margin mortgage services to obtain full margin loans. But this kind of loan is discouraged.

The duration of the loan for studying abroad (reflected in the contract) should be consistent with the duration of your course. If your course is longer than three years, then it is good to borrow only three years.

Third, the way to deal with the deposit

The deposit for studying in Australia usually needs to be provided when the applicant applies for a visa. Specifically, the bank deposit certificate is submitted to the Australian consulate or embassy in China. At present, China bank deposit certificates recognized by Australia can come from China Bank, China Industrial and Commercial Bank, China Construction Bank, China Agricultural Bank, Shanghai Pudong Bank and CITIC Industrial Bank.

Matters needing attention in handling the deposit for studying abroad

1. The guarantor shall be himself or his immediate family.

Generally speaking, it is better for the person who provides financial guarantee to be himself or his parents, at least the main part of the funds comes from his parents or himself, because only parents have the responsibility and obligation to raise and educate their children. Of course, if the applicant is married, the spouse is also a natural guarantor. In addition, brothers and sisters, grandparents, grandparents can also be used as guarantors, but it is best to participate in the funding with their parents, so that the success rate will increase by more than 10%, and get twice the result with half the effort. In addition, if the collateral aunts and uncles are Australian citizens/permanent residents or New Zealand citizens and permanently live in Australia, they can also be guarantors of students, but usually the materials are more troublesome and time-consuming, which is generally not recommended.

2. The income should match the deposit.

In the economic guarantee materials, the work certificate of the person or guarantor is an important part, and the income must be consistent with the work unit and position. If the amount of guarantee provided by the guarantor is high, but the sum of its average annual income is relatively low, and the source of guarantee cannot be reasonably explained, the visa officer will ask him to provide a more adequate and reasonable source of funds to explain the source of large deposits. In addition, judging from the work unit and position of the guarantor, it is impossible to have such a high income, and the visa officer will also doubt the authenticity of the income proof materials provided by him, which will lead to further verification work, such as telephone survey or field survey, which will make the visa application in a passive situation and cause unnecessary involvement and delay in time and energy.

3. The explanation of income sources can be diversified.

As mentioned above, it is necessary to reasonably explain the source of funds (deposits or loans) provided by the guarantor. Limited by the characteristics of the industry, many guarantors don't know where to start to explain. Because not every guarantor has a fixed service place or subordinate unit, it cannot be simply explained by the unit that issued the certificate. For example, the preparation materials for working in enterprises and institutions are different from those for self-employment; Property inheritance and physical transaction will also have their own material requirements, including a lot of professional knowledge and experience. As long as the materials can be put in place, visa officers generally recognize reasonable, legal and true sources of funds.