Australia Student Visa Funds Calculator 2026: Check Your Financial Requirements for Subclass 500 Visa

By Shankar Dharel, Registered Migration Agent (MARN 2217794)

Many international students only calculate their tuition fees. However, the Australian student visa financial capacity requirement may also include:

1. travel expenses;
2. living costs;
3. course fees;
4. Overseas Student Health Cover;
5. spouse or de facto partner living costs, if applicable;
6. dependent child living costs, if applicable; and
7. school costs for school-age dependants.

The Australia Student Visa Funds Calculator 2026 is designed to help international students estimate these costs before applying for a course or lodging a visa application. This article explains the current financial capacity amounts for the Subclass 500 Student visa, how to calculate your estimated funds, what evidence may be accepted, and what common mistakes students should avoid.

What Are the Financial Requirements for a Subclass 500 Student Visa in 2026?

For a Subclass 500 Student visa, an applicant may be required to provide evidence that they have access to sufficient funds to cover their stay in Australia.

The current financial capacity instrument (Migration (LIN 19/198: Evidence of financial capacity – Subclass 500 Visa and Subclass 590 Visa) Instrument 2019) states that a primary student visa applicant must show sufficient funds for:

1. travel expenses;
2. living costs;
3. course fees for the relevant period of study; and
4. additional costs for any family members included in the application.

For students staying in Australia for 12 months or more, the annual living cost amount for the primary applicant is currently AUD 29,710. This amount applies to the living cost component only. It does not include tuition fees, travel, OSHC, visa application charges or family member costs.

The Department of Home Affairs currently lists the Subclass 500 Student visa application charge as from AUD 2,000, unless an exemption or lower cost applies. Visa charges can change, and the Department notes that visa costs depend on the date the application is received.

Find The Courses, an Australian-based educational platform, provides valuable resources and support for international students.

What Types of Proof of Funds Are Acceptable for Visa Application?

When applying for the Subclass 500 visa, applicants must provide acceptable proof of funds to demonstrate their financial capacity. The types of documentation required can vary based on the level of risk associated with the applicant's financial situation.

1. Level 1: Basic financial declaration, Confirmation of Enrolment (CoE), and passport bio page.
2. Level 2: Detailed financial evidence, including 3-6 months of bank statements.
3. Level 3: Comprehensive documentation, such as a 6-12 months bank history, source-of-funds documentation, property documents and other supporting financial documents.

Providing accurate and formal sources of funds is essential to meet the visa requirements and avoid visa refusal or delays in the application process.

How to Use the Australia Student Visa Funds Calculator for 2026?

The Australian Student Visa Funds Calculator is a valuable tool for prospective students to accurately estimate their financial requirements. To use the calculator effectively, applicants should input their expected tuition fees, living costs, and any additional expenses related to dependets. The calculator will then provide an estimate of the total funds needed to meet the visa requirements. Utilizing this tool can help students plan their finances better and ensure they have the necessary funds before applying for the visa.

How Much Money Do You Need to Prove Financial Capacity for the Student Visa?

Living Costs for the Primary Applicant

If you intend to stay in Australia for 12 months or more, you should calculate living costs of AUD 29,710 per year. If your stay is less than 12 months, the amount may be calculated on a pro-rata basis.

Course Fees

You should include your course fees, minus any amount already paid. If your course, or remaining period of study, is less than 12 months, you should include the course fees for that period. If your course, or remaining period of study, is more than 12 months, you should include the course fees for the first 12 months of study.

Travel Expenses

You should also include travel expenses for yourself and any family members included in the visa application. The exact travel cost will depend on your country of residence, flight availability, time of travel and whether family members are travelling with you. As a practical estimate, many students allow around AUD 2,000 to AUD 3,000 per person, but the actual cost may be higher or lower.

Spouse or De Facto Partner Costs

If your spouse or de facto partner is included in your student visa application and intends to stay in Australia for 12 months or more, the current annual living cost amount is AUD 10,394. If they intend to stay for less than 12 months, a pro-rata calculation may apply.

Dependent Child Costs

If you include a dependent child in your application and the child intends to stay in Australia for 12 months or more, the current annual living cost amount is AUD 4,449 per child. Again, if the child intends to stay for less than 12 months, a pro-rata calculation may apply.

School Costs for School-Age Dependants

If you include a school-age dependent, you may also need to calculate school costs. The current annual school cost amount is AUD 13,502 per school-age dependent. There are limited situations where this amount may be nil, such as where the child is enrolled in a State or Territory government school where fees have been waived, and the primary applicant falls within specific categories, including doctoral degree, Foreign Affairs, Defence or Commonwealth-sponsored students.

What Forms of Financial Evidence Are Accepted?

The financial capacity instrument specifies the following forms of evidence:

1. money deposit with a financial institution;
2. loan with a financial institution;
3. government loans; and
4. scholarship or financial support.

This means students should ensure their financial documents are formal, verifiable and clearly connected to the funds they are relying on.

Common Proof of Funds Documents

Depending on your circumstances, you may need to prepare documents such as:

1. bank statements;
2. fixed deposit or term deposit certificates;
3. education loan approval letters;
4. government loan documents;
5. scholarship letters;
6. financial support letters;
7. sponsor income evidence;
8. tax records;
9. salary or employment evidence;
10. business income documents;
11. evidence explaining source of funds; and
12. documents showing funds are genuinely available.

The exact documents required may depend on your education provider, country of passport, immigration history, family situation and overall visa risk profile.

Common Mistakes Students Make With Financial Evidence

Many student visa applicants experience delays or refusals because their financial evidence is incomplete, unclear or inconsistent.

Common mistakes include:

1. showing sudden large deposits without explanation;
2. relying on funds that are not genuinely available;
3. using unclear or incomplete bank statements;
4. failing to explain the source of funds;
5. forgetting to include course fees;
6. not including family member costs;
7. not calculating school costs for children;
8. using outdated living cost amounts;
9. assuming AUD 29,710 is the total amount required;
10. forgetting travel and OSHC costs;
11. using old visa application charge amounts; and
12. assuming a financial declaration is always enough.
13. not considering foreign exchange rate fluctuations, noting that the financial evidence requirement generally needs to be satisfied at the time of decision, not only at the time of application.

The safest approach is to prepare financial documents early and ensure the funds are genuine, accessible and properly explained.

Frequently Asked Questions

How much money do I need for an Australian student visa in 2026?

For the living cost component, the current amount is AUD 29,710 per year for the primary applicant. However, your total financial requirement may be higher after adding tuition fees, travel costs, OSHC, visa charges and family member costs.

Is AUD 29,710 the total amount I need?

No. AUD 29,710 is the annual living cost amount for the primary applicant. You may also need to include tuition fees, travel, OSHC, visa charges and family costs.

How much do I need to show for my spouse?

The current annual living cost amount for a spouse or de facto partner is AUD 10,394.

How much do I need to show for a child?

The current annual living cost amount for a dependent child is AUD 4,449. If the child is school age, school costs may also need to be included.

What is the school cost amount for a school-age child?

The current annual school cost amount is AUD 13,502, unless a specific nil-cost exception applies.

Can I use a bank loan as proof of funds?

Yes. A loan with a financial institution is one of the specified forms of evidence of financial capacity.

Can I use scholarship evidence?

Yes. Scholarship or financial support is one of the specified forms of evidence.

What is the annual income option?

Instead of showing funds, some applicants may provide official government documentation showing personal annual income. The current amount is AUD 87,856 where there is no secondary applicant, or AUD 102,500 where there is a secondary applicant.

Can I use the income of any family member?

No. The annual income option is not available for the income of any family member.

For a primary Student visa applicant, the income must generally be from the applicant’s:

1. parent;
2. spouse; or
3. de facto partner.

What is the current student visa application charge?

The Department of Home Affairs currently lists the Subclass 500 Student visa application charge as from AUD 2,000, unless an exemption or lower cost applies.

Final Thoughts

Financial preparation is one of the most important steps in your Australian study journey.

Before applying for a course or lodging your Subclass 500 Student visa, use theFind The Courses Australia Student Visa Funds Calculator 2026 to estimate your likely financial requirement. This can help you compare courses, prepare documents early, avoid common mistakes and make informed decisions about studying in Australia.

A strong financial plan not only supports your visa application. It also helps you settle in Australia with more confidence.

Disclaimer

This article provides general information only and does not constitute migration, legal or financial advice. Student visa requirements, financial capacity amounts and visa application charges may change. Always check the latest information from the Department of Home Affairs or seek advice from a registered migration agent or qualified professional before lodging a visa application.