Australia guide · verified 2026-07-04
Cost of Studying in Australia: Tuition, Living and Proof of Funds
Money & proof of funds
Australia does not use a blocked account like Germany, instead the visa file must show evidence of enough money (savings, income, loan, or scholarship) to cover tuition, travel, and a government-set living-cost minimum, and Home Affairs has raised that minimum sharply since 2023.
Living-cost requirement
MandatoryAUD 29,710 for a single applicant, per year
Tracks ~75% of the national minimum wage; rose AUD 21,041 → 24,505 (Oct 2023) → 29,710, in force since 10 May 2024 (not a 2026 change). Add ~AUD 10,394 for an accompanying partner and ~AUD 4,449 per dependent child (confirm current supplements). Confirm the figure before finalising a student's funds file.
What the funds must cover
MandatoryTuition (1st year) + living costs (12 months) + return travel
Funds can be shown as personal/family savings, an education-loan sanction letter from a recognised lender, a scholarship, or a combination, an informal affidavit alone is weak evidence and should be backed by real bank statements.
Evidence expected (typical, India)
Conditional3 to 6 months of bank statements + source-of-funds paper trail
Because India has sat at a higher SSVF evidence level for parts of 2026, expect deeper scrutiny of source of funds, sudden large deposits should be explained with supporting paperwork (loan agreement, sale deed, ITRs), not left unexplained.
Tuition (indicative)
AUD 25,000 to 55,000/yr (Bachelors); AUD 28,000 to 70,000/yr (Masters)
Set entirely by the university and program, Go8 universities and Engineering/IT/Business/Medicine programs sit at the top of the range. Always use the specific university's own fee page (e.g. University of Sydney 2026: undergraduate ≈ A$49,200 to 60,600, postgraduate coursework ≈ A$46,400 to 69,300) rather than a national average.
OSHC
Mandatory≈ AUD 600 to 850/year for a single student (2026)
Mandatory for the full intended stay (visa condition). Sold only by six government-approved insurers (ahm, Allianz Care, Bupa, CBHS International, Medibank, nib); rates rose ~4.4% from 1 April 2026. Get a firm quote rather than budgeting off an average.
Build the funds file to the current living-cost figure
MandatoryCalculate: (1st year tuition, from the offer letter) + (AUD 29,710 for 2026, or the then-current living-cost figure) + (return airfare estimate). Add the partner/dependant supplement if family is accompanying. Gather 3 to 6 months of clean, explainable bank statements or an education-loan sanction letter from a recognised lender.
Line up an education loan early if self-funding is tight
Indian lenders (nationalised banks and NBFCs such as HDFC Credila, Axis, ICICI, Avanse) issue sanction letters that Home Affairs accepts as financial evidence. Start this well before the visa stage, loan processing and collateral valuation can take weeks.
A loan sanction letter plus clear repayment capacity is often viewed more favourably than an unexplained lump-sum deposit.Budget realistically beyond the visa minimum
AUD 29,710/year is a visa-eligibility floor, not a comfortable big-city budget. Sydney and Melbourne run well above it, especially for rent, counsel students to budget higher and secure student accommodation early, since housing (not admission) is often the real cost and availability bottleneck.
Don't let a student treat the AUD 29,710 figure as their real annual living budget in Sydney or Melbourne, it is a visa-evidence minimum.
The financial-capacity requirement has moved twice since 2023 and is reviewed periodically. Always check the current figure on the Home Affairs financial-capacity page before telling a student what to save or borrow.
Sources
- Financial capacity requirement for student visa (news), Department of Home Affairs
- Student visa (subclass 500), official visa page, Department of Home Affairs
- Overseas Student Health Cover (OSHC), Study Australia (Australian Government / Department of Education)
- International student tuition fees, The University of Sydney
Where this fits
This is one step of the full Australia journey: admission, tests, application, visa, money, arrival and stay-back, every figure cited to an official source.
More on Australia
Bramica is independent and takes no commission from any university, recruiter or agency. This page is information, not immigration advice. Rules, fees and thresholds change; confirm the current requirement on the official source before acting on it.