Proving you can afford to study in Australia
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The subclass 500 requires you to show you can cover 12 months of living costs, first-year tuition, and travel, without relying on work in Australia. Meeting the number is only half of it; the funds also have to look genuine and be genuinely available to you.
The numbers
Home Affairs publishes a 12-month living-cost figure that is reviewed periodically and has risen several times. As of 2026 the figures are:
| Person | 12-month amount |
|---|---|
| Primary applicant | AUD 29,710 |
| Partner or spouse | AUD 10,394 |
| Each dependent child | AUD 4,449 |
| Annual school costs, per school-age child | around AUD 13,502 |
On top of the living-cost figure you show first-year tuition (or the amount still owing after any deposit already paid) and travel, roughly AUD 2,000 to 2,500 depending on where you are coming from. Always check the current living-cost figure on the Home Affairs site before you rely on it.
Worked example: single student, Master of IT in Adelaide
| Item | Amount |
|---|---|
| Living costs, 12 months | AUD 29,710 |
| First-year tuition | AUD 45,000 |
| Travel | AUD 2,200 |
| Minimum to evidence | AUD 76,910 |
| Recommended, with a buffer | AUD 85,000 or more |
If tuition of AUD 20,000 has already been paid and you can show the receipt, the figure you still need to evidence drops accordingly.
Acceptable evidence
- Bank statements showing a genuine savings history, ideally three to six months of activity, not a single recent balance
- An education loan from a recognised financial institution that has been actually approved and disbursed or ready to disburse, not approved in principle
- Evidence of a parent's or sponsor's income, employment, and their documented relationship to you
- Scholarship or sponsorship letters that state exactly what is covered and for how long
- Fixed deposits, with the certificate and the source of the original funds
The genuine access test
Case officers increasingly look at whether the money is really available to you, not just sitting in a relative's account. Funds held by a distant relative, or a large sum that appears days before you apply with no history behind it, or a loan secured against an asset that cannot easily be liquidated, all invite questions. Every significant amount needs a plausible origin story that the paperwork supports.
What raises flags
| Flag | Why it looks bad |
|---|---|
| A lump sum deposited just before applying | Suggests borrowed funds that will be repaid, not genuine savings |
| Money held by an uncle, cousin, or family friend | Not clearly available to you |
| Loan "sanctioned" or "approved in principle" | Not the same as funds you can actually draw |
| Exactly the minimum, no margin | Reads as clearing a hurdle rather than being able to afford the year |
Show more than the minimum
A margin above the requirement, and a savings pattern that predates your decision to apply, is the single strongest signal that the funds are real. It also matches a strong Genuine Student statement, which should describe the same money the same way. For a realistic picture of what a year actually costs, see the cost of living pages and the guide to the real cost of studying in Australia.