Proof of Financial Resources Is Inevitable for Australian Student Visa

Proof of Financial Resources Is Inevitable for Australian Student Visa

International students are requires to submit a proof of financial resources to study in Australia. Therefore, to obtain the student visa, you first have to establish that you have enough funds to take care of yourself for the first two years or so. Why this proof is required? The Australian government wants to ensure that you get most of your education. Financial distresses can impede your University career and so, the government is concerned about this matter.With the financial arrangements in place you can no doubt have a safe and enjoyable experience in Australia.The cost of living in Australia is quite high, especially when you are going to live in the urban areas in Sydney and Melbourne. Instead of shocking the international students with the cost of living when they already arrive, the Australian government prefer to be aware of the financial condition of the student before they can obtain the visa to enter the country.

Requirements

The constraints implemented by the Department of Immigration and Citizenship that you have to reach to obtain your student visa.Student: The students must have the course fees and in addition to that approximately they have to keep $18,610 for cost of living in order to be considered for a student visa. Every student has to carry an equivalent one return airfare to the country of Australia. However, it is not a standard norm and may differ depends on the place you are living or the school you attended.Spouse or partner of the students: If you are married or into a committed relationship, you have to submit the financial proof of your spouse and partner. They need to have one return airfare to the country and along with that they need to carry $6,515 for overall cost of living.Children: If you have children under the age of 6, the first sibling will add airfare and an amount of $3720 per year. For every other child the airfare will be same and has to maintain an amount of $2,790. If the children are over the age of 6, the Department of Immigration and Citizenship will decide the cost based on the child’s age, the area of Australia where you are going to reside and the school level.If you have any doubt, you can call the office of international studies or the Department of Immigration and Citizenship.

Documents you need to submit

You have to provide certain proofs like the:

  • Bank statements
  • Loan contracts

If somebody else is going to finance your study in Australia, he or she has to furnish a few information as well. When you are submitting the financial documents more is always better. During the process the department will keep the information safe and private.The immigration office will consider three factors while going through your financial resourcesPrevious immigration and financial history of the applicants. This include bank statements, taxes, credit history and passport historyThe employment history of the applicant or the same history of the person providing them with financial support. This ensures the students have a consistent income.Provide the source of income. It may be cash, assets or a bank loan. If there are any discrepancies or any doubt, the applicant will be asked to provide more information. It will eventually delay the visa process.

Assistance

Students willing to study in Australia will not be sure at the first place about all the rules and regulations they have to abide by to avail the visa. When in doubt, with whom they should consult? There is an international student department in every university. The officials of the department may help you out. The assistance may be in terms of application for financial aid, work opportunities while you are in the country or dealing with savings account or loan. Contact them as soon as you are accepted by the university. After that you can begin the process for student visa.Image courtesy: www.flickr.com

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