The amount of money you need for a student visa extension in Australia can vary depending on several factors, including your individual circumstances, the duration of your extension, and the cost of living in the area where you’ll be studying. However, as a general guideline, you typically need to demonstrate that you have enough funds to cover your tuition fees, living expenses, and any other relevant costs for the duration of your extended stay. Use this cost calculator to calculate your fund arrangement.
The Department of Home Affairs (DHA) provides specific financial requirements for student visa applicants, including evidence of sufficient funds to cover living costs, travel expenses, and schooling costs for any accompanying family members. As of my last update, the financial requirements for a student visa extension in Australia usually include:
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Tuition Fees: You must demonstrate that you can cover the tuition fees for your course. This amount varies depending on the institution and the program you’re enrolled in.
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Living Expenses: You need to show evidence of sufficient funds to cover living expenses, such as accommodation, food, transportation, and other personal expenses. The DHA typically sets a minimum amount for living expenses, which can vary depending on your circumstances and the duration of your extension.
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Overseas Student Health Cover (OSHC): You are required to have health insurance for the duration of your stay in Australia. The cost of OSHC varies depending on the duration of your visa and the provider you choose.
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Return Airfare: You may need to show evidence of funds to cover the cost of return airfare to your home country.
It’s essential to check the most up-to-date requirements on the Department of Home Affairs website or consult with a migration agent for personalized advice tailored to your situation. Additionally, your education provider may also provide guidance on the financial requirements for visa extensions.