Australia Student Visa
Funds Calculator
Free Subclass 500 Tool
Planning to study in Australia? Use our free calculator to find out exactly how much money you need to show the Department of Home Affairs for your Subclass 500 student visa application — with instant AUD and INR results.
- First year tuition fee (from your Offer Letter)
- 12-month living costs — AUD 29,710
- Return airfare — AUD 2,500 estimate
- OSHC health insurance — AUD 2,500 estimate
- INR equivalent at your exchange rate
- Visa application fee: AUD 2,000
- Paid to Dept. of Home Affairs directly
- Not part of your financial evidence
- Cannot be substituted or deducted
Calculate Your Required Funds
Enter your tuition fee and exchange rate below for an instant estimate.
| 🎓 First Year Tuition Fee | Enter above |
| 🏠 Living Cost (12 months) | AUD 29,710 |
| ✈️ Student Air Ticket | AUD 2,500 |
| 💊 OSHC Health Insurance | AUD 2,500 |
This fee is paid directly to the Department of Home Affairs at lodgement. It is not part of your financial evidence and is not included in the total above.
Australia Student Visa Funds — What is the Minimum Required?
The Australia student visa funds calculator above gives you the fastest way to know exactly how much money you need to prove for your Subclass 500 Student Visa. The Department of Home Affairs requires every international student to demonstrate genuine financial capacity before their visa is granted.
There are four official components set under the Migration (LIN 19/198) Legislative Instrument 2019:
- First 12 months of course tuition fees (or pro-rata for courses under 12 months)
- 12 months of living costs — AUD 29,710 for the primary applicant (updated 2024–25)
- Return airfare — AUD 2,000 from India, UAE and most countries outside Australia
- Overseas Student Health Cover (OSHC) — mandatory for the full visa duration
These are the minimum figures. Actual living costs in Sydney and Melbourne are significantly higher depending on your accommodation choice and lifestyle.
| Cost Component | Amount (AUD) | Amount (INR @ ₹57) |
|---|---|---|
| First Year Tuition Fee (example) | AUD 25,000 | ₹ 14,25,000 |
| Living Cost — 12 months | AUD 29,710 | ₹ 16,93,470 |
| Return Air Ticket | AUD 2,500 | ₹ 1,42,500 |
| OSHC Health Insurance | AUD 2,500 | ₹ 1,42,500 |
| Total Required | AUD 59,710 | ₹ 34,03,470 |
* Rate: ₹57 per AUD. Confirm the current rate with your bank before any transfer. Use the calculator above to recalculate at today's live rate.
What is OSHC? Mandatory Health Insurance for Australia Student Visa
Overseas Student Health Cover (OSHC) is compulsory health insurance every international student must hold for the full duration of their Australian Student Visa. It is a visa condition — not optional — and must be arranged before your visa is granted.
OSHC covers GP visits, most hospital treatments, limited pharmaceuticals, and some out-of-hospital services. It is entirely separate from Medicare, which international students are generally not eligible for.
- Policy must cover the full visa duration — no gaps permitted at any point
- Enter the provider name, policy dates, and policy number in your ImmiAccount application
- If your education provider arranges OSHC via your CoE, enter provider name and dates only
- Studying with two providers? The second policy must start on the day the first expires
- Students from Norway, Sweden or Belgium may be exempt — check the Home Affairs eligibility page
- nib OSHC: approximately AUD 1,273 / year — cheapest option
- ahm OSHC: approximately AUD 1,282 / year
- Allianz Care: approximately AUD 1,350 / year
- Medibank: approximately AUD 1,368 / year — best pharmacy cover
- Bupa: approximately AUD 1,419 / year — best overall coverage
- AUD 2,500 in the calculator is a safe estimate for 2-year courses
Subclass 500 Financial Requirements — What Evidence Does Home Affairs Accept?
Knowing the funds requirement is not enough. The Department of Home Affairs also requires you to prove you have genuine access to those funds — not just a one-day bank balance.
- Bank statements showing 6–12 months of deposit and transaction history (not a single-day balance)
- Government loans or loans from a recognised and approved financial institution
- Scholarships or financial support letters from an approved sponsoring body
- Education loans — must include full loan terms, disbursement amount, and drawdown evidence
Alternatively, you can show that your parents or partner earned at least AUD 87,856 in the 12 months before your application. If bringing family members, this rises to AUD 102,500. Evidence must be official government documents such as tax assessments — bank statements alone do not qualify for this method.
- A single-day bank balance certificate with no accompanying transaction history
- Bank statements showing a sudden unexplained large deposit without a source
- Informal employer letters (only official government tax assessments are accepted)
- The most common financial reason for student visa refusal is showing a lump-sum balance without proving how it was accumulated over time.
- Always provide 6–12 months of bank transaction history alongside salary slips and income tax returns.
- For education loans, include the full sanction letter, loan agreement, and disbursement evidence.
- If a family member is sponsoring you, include their identity documents, your relationship proof, and evidence of any past financial support given to other students or family members.
Additional Funds Required if Bringing Family to Australia
If your spouse or children will accompany you on a secondary Student Visa, the financial requirement increases. You must demonstrate additional capacity for each family member — separately from the primary applicant's requirement.
| Family Member | Additional Annual Funds Required |
|---|---|
| Spouse / De facto partner | AUD 10,394 per year |
| Each dependent child — living costs | AUD 4,449 per year |
| Each school-age child — tuition | AUD 13,502+ per year (varies by school and state) |
- PhD students whose children are enrolled in an Australian government school with fees waived do not need to prove school fees.
- Evidence of enrolment is still required in all cases regardless of fee status.
- The same exception applies to Australian Commonwealth Government scholarship holders including DFAT and Department of Defence sponsored students.
How to Use the Australia Student Visa Funds Calculator
Our free calculator gives you an accurate, personalised estimate in under 30 seconds. Here is exactly how to use it:
- Enter your First Year Tuition Fee in AUD — find this on your official Offer Letter or Confirmation of Enrolment (CoE) issued by your Australian university or TAFE.
- Set the AUD to INR exchange rate — the default is ₹57. Update this to today's live rate for the most accurate Indian Rupee figure.
- Your total appears instantly — the calculator adds the fixed government-mandated costs (living, airfare, OSHC) to your tuition and shows both AUD and INR totals immediately.
- Note the separate visa fee — the AUD 2,000 Subclass 500 application fee shown below the result is paid directly to Home Affairs via ImmiAccount and is never part of your financial evidence.
If your course is less than 12 months, pro-rata costs apply. Divide each annual figure by 365, then multiply by your intended days of stay. WhatsApp Guide to Heights for a pro-rata calculation →
Frequently Asked Questions — Australia Student Visa Funds
Related Resources to Help You Prepare
Once you know how much you need, these two resources will help you arrange your funds and health insurance — both free services from Guide to Heights.
Guide to Heights — Trusted Australia Student Visa Consultancy
Guide to Heights is a PIER-certified (QEAC #10439) and British Council recognised (#49805) education consultancy with offices in Kochi, Kerala, Sharjah, UAE, and Melbourne, Australia. We specialise in helping students from Kerala, India, and the GCC region plan, apply, and move to Australia for higher education.
Our founder, Abin Mathew Varghese, is a Deakin University Melbourne graduate with firsthand experience studying and working in Australia — giving us the real-world knowledge to guide every student from shortlisting to landing.
- University shortlisting & applications
- Student Visa (Subclass 500) guidance
- OSHC health insurance — best price guaranteed
- GTE statement preparation
- Education loan — free assistance service
- Pre-departure orientation & arrival support
📍 Kochi, Kerala · Sharjah, UAE · Melbourne, Australia — Serving India & GCC