are the financial requirements for an assessment Level 4 student visa (i.e. Bangladesh, Cambodia, China, India, Nepal [VET only], Pakistan, Sri Lanka)?
The Australian Department of Immigration & Citizenship (DIAC), who processes student visas, has very specific requirements with respect to student financial requirements. In order to obtain a visa you must demonstrate you have enough money to pay for one return flight, the full course tuition fees and $12,000 for each year of study in Australia (to a maximum of three years). As an example, if you are enrolled in a 2 year Diploma course which costs $10,000 per year. You will be required to have – Tuition fees of $10,000 x 2 years ($20,000), return flight ($2,000) and 2 years living expenses $12,000 x 2 ($24,000) = total of $46,000. Finances to support study in Australia can come personal savings, from a family member or through a loan from an approved financial institution. A money deposit being used to support your study must be held in a bank account of an approved financial institution for at least six consecutive months immediately before the date of your visa application (i.e. you
