On 09th November 2009, Australian Government has proposed a few changes to the requirements of Living Costs and evidence of funds for international students. The Minister for Immigration and Citizenship announced that the requisite amount required for ‘show money’ for a student visa application for international students will increase under the proposed changes. Other than the proof of funds required for a visa, the genuinity and availability of finances would also be questioned. The proposed changes would be crucial for the grant of a visa to any applicant who is wishing to pursue education in Australia.
Changes in Living Costs and Evidence of Funds
As, it is made mandatory by the Migration Regulations that international students must show evidence of sufficient funds so that they have no problems paying the living costs and cost of studying during their stay in Australia. In order to sustain living in Australia, the foreign student must provide enough evidence of funds as it is necessary to ensure that the student has the capability to concentrate on their studies and have a great studying and living experience. Students can however work part time in Australia so that they are also able to supplement some of the money they need and also enrich their work experiences. However, permitting a student to work part time does not signify that they should depend on it for their living costs and take their studies for granted in order to make their ends meet.
Now the Australian legislation is going to make changes and would increase the financial amount required for a visa application. Previously under the Migration Regulations the basic rate of living is set for $12,000 per year. If approved by the Governor General, the proposed changes will come under effect from 01st January 2010. Under the proposed new regulations, prospective student visa applicants and their family members must have access to the following funds to meet the living costs requirements:
$18 000 per year for the main student
$6300 per year for the student’s partner
$3600 per year for the student’s first child
$2700 per year for every other child; and where required demonstrate that the funds they are relying upon to meet the costs of studying in Australia will be genuinely available to them during their stay in Australia.
The proposed changes will come into effect after an observation that the funds required earlier, since 2001, were not adequate anymore for a healthy stay of students in Australia. Students would be required to prove that the funds they are showing would be genuinely available by various procedures, if questioned by the authorities. The immigration authority would check the applicant’s previous financial and immigration history as well to ensure that they only allow a genuine student to enter Australia. On top of that the authorities would also check the employment histories of the student or the person who is sponsoring the living cost and studies of the student. If doubted again, the immigration authorities could ask for more information from the student. A students relying upon a bank loan may need to show that these funds have been deposited into a bank account to which they have unrestricted access, and that they have the financial capacity to service the loan both before they depart for Australia and once they arrive.
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by Varsha Negi
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