Key points
- The government of Australia introduced new minimum income requirements for foreign national students on 1 October 2023
Overview
The government of Australia introduced new minimum income requirements for foreign national students on 1 October 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. Accompanying 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 1 October 2023. Student visa savings requirements have not been updated since 2019. According to the government, this increase will prove that foreign national students can afford higher living expenses in Australia.
Looking Ahead
Continue to check the government of Australia’s website and Envoy’s website for the latest updates and information.
Content in this publication is for informational purposes only and not intended as legal advice, nor should it be relied on as such. For additional information on the issues discussed, consult an attorney at Corporate Immigration Partners, P.C., or another qualified professional of your choosing. On non-U.S. immigration issues, consult your Envoy representative, or another qualified representative of your choosing.
