Reviewed by the finduni team · Last verified 15 September 2026 · Sources: Home Affairs: Student visa (subclass 500)
What changed in this update: Removed guidance on a deposit account that Home Affairs does not require. Rebuilt from Home Affairs: what you must cover, accepted evidence, the income alternative, school costs, and a worked NPR example.
Overview
Home Affairs asks Student visa applicants for evidence that they have enough money for their stay: travel, course fees and living costs for themselves and any family members coming with them. There is no special deposit account to open. You show the money with ordinary financial evidence, or show that a parent or partner earns enough. If your document checklist asks for this evidence you must attach it when you apply, and Home Affairs may still ask for it later if the checklist does not.
How Much Money Do You Need?
| What you must cover | Amount (AUD) |
|---|---|
| Travel to Australia | AUD 2,000, the guide amount when applying from Nepal |
| Course fees | Your first 12 months of fees, less any you have already paid and can evidence |
| Living costs: student | AUD 29,710 for 12 months |
| Living costs: partner coming with you | AUD 10,394 for 12 months |
| Living costs: each child coming with you | AUD 4,449 for 12 months |
| School costs | At least AUD 13,502 a year for each school-age child |
If you will be in Australia for less than 12 months, Home Affairs lets you work out a pro rata amount: divide the annual cost by 365 and multiply by the days you intend to stay. These are the minimums for the visa; actual living costs in your city may be much higher.
Source: Home Affairs, Student visa (subclass 500). Use finduni.ai's Proof of Funds Calculator for your own figures.
Worked Example in NPR
Take a single student with an example first-year tuition fee of AUD 30,000, nothing paid yet, and no family coming. At an example exchange rate of NPR 90 per AUD:
| Item | AUD | NPR (example rate) |
|---|---|---|
| Travel | AUD 2,000 | NPR 1,80,000 |
| First 12 months of tuition (example) | AUD 30,000 | NPR 27,00,000 |
| Living costs for 12 months | AUD 29,710 | NPR 26,73,900 |
| Total | AUD 61,710 | NPR 55,53,900 |
That is about NPR 55.5 lakh. If a partner comes too, add AUD 10,394 in living costs and their travel, which takes the example to at least AUD 72,104 before their travel. Swap in your own tuition fee from your offer, and use the Nepal Rastra Bank rate on the day you prepare your evidence: the rate here is only an illustration.
What Counts as Evidence?
Home Affairs accepts evidence such as:
- Deposits of money with a financial institution
- A government loan, or loans from a financial institution
- Scholarships or similar financial support
The money can be yours, or come from a family member supporting you, as long as you can document the relationship and the funds are genuinely available for your study.
The Income Alternative
Instead of showing the full amount, you can show that your parents or your partner had a personal annual income of at least AUD 87,856 in the 12 months before you apply, or at least AUD 102,500 if family members are coming with you. If both parents work, their incomes can be combined. The evidence must be official government documents such as tax assessments less than 12 months old. Bank statements and direct evidence from an employer are not accepted.
Genuine Access and Source of Funds
What matters is that the money is genuinely available to you for your studies, not just that a balance appears on a statement:
- A balance on a single day does not show how the funds were built up. Case officers may ask where the money came from.
- Keep records that explain the source: salary, business income, property sale, or a loan sanction letter
- If a family member is supporting you, show your relationship to them and their capacity to fund you
- Sudden large deposits with no explanation can raise questions, so be ready to document them
Sponsorship by Parents
Most Nepali students are supported by their parents. To show this:
- Sponsor letter signed by parents confirming they will fund your study
- Parents' bank statements or loan documents
- Parents' income proof: for the income alternative, official government documents such as tax assessments
- Relationship proof: your birth certificate
The clearer the link between your parents' income and the funds shown, the more convincing the overall case.
Common Mistakes Nepali Students Make
- Unexplained large deposits: money that appears just before applying with no documented source invites questions.
- Showing a balance without a source: a statement proves the money is there today, not that it is genuinely yours to use.
- Forgetting family members: a partner or children coming with you add their own living costs, travel and school costs.
- Using bank statements for the income alternative: Home Affairs does not accept them for income; it needs official government documents.
- Leaving out paid fees: if you have already paid part of your tuition, deduct it and attach the receipt or CoE that shows the payment.