Financial Capacity — What the Department Is Assessing
The subclass 500 student visa requires the applicant to demonstrate financial capacity — the ability to meet travel costs, the first 12 months of course fees, and 12 months of living costs. Financial capacity is a separate requirement from the Genuine Student requirement, although your financial circumstances can also be relevant to GS. Insufficient or unreliable evidence is a common reason for refusal.
How Much Money Do You Need?
Acceptable Evidence of Financial Capacity
Statements showing the required funds held in your name (or a family member's name) for at least 3 consecutive months before lodging. The account must show regular activity — a large deposit immediately before the application period without prior history may be questioned.
A scholarship covering tuition and/or living costs from an Australian government program, the Australian Awards program, or a recognised educational institution. The scholarship letter must state the amount, duration, and what it covers.
A loan from a financial institution that is specifically for educational purposes — showing the loan amount, terms, and that funds are available for use in Australia. The loan must be from an institution recognised by the Department.
If your parent or guardian earns at least AUD 87,856 per year (before tax), this can be used as evidence of financial capacity in place of held funds. The income must be shown by official government documents, such as a tax assessment less than 12 months old. Home Affairs does not accept bank statements or evidence directly from an employer. The threshold is AUD 102,500 if family members are coming with you. Figures current at October 2026 — confirm on DoHA website.
If a sponsor other than a parent or guardian (e.g. an employer, government body, or other organisation) is supporting your study financially, you will need both a sponsor letter and evidence of the sponsor's capacity to fund the stated amount.
Genuine Access to Funds — What This Means
The Department does not only look at whether the required amount is in an account — it assesses whether you have genuine access to the funds and whether the financial situation is consistent with the broader application. "Genuine access" means the money is actually available to you for your study costs, not merely deposited temporarily to meet the requirement.
Common Financial Evidence Refusal Reasons
Frequently Asked Questions
This information is general in nature and does not constitute immigration assistance or legal advice for any individual situation. Requirements including occupation lists, fees and processing criteria change without notice.
1313 Success Group Pty Ltd trading as Nanak Migration Group makes no representation that information on this site is complete, current or applicable to your circumstances. Nothing here guarantees, implies or represents any visa outcome, approval likelihood or processing time.
Obtain advice tailored to your situation from a registered migration agent or Australian legal practitioner. Navpreet Aulakh, MARN 2619467, is registered with the Office of the Migration Agents Registration Authority.
Information current as at October 2026. Verify all requirements with the Department of Home Affairs (immi.homeaffairs.gov.au) before lodging any application.