Australia Proposes New Student Visa Rules, Changes to Financial Requirements Emerge

• Australia's Department of Home Affairs released a consultation paper outlining possible changes to Student visa financial requirements
• Four financial models are under consideration, including options requiring applicants to hold up to 100% of first-year costs before lodging their application
• Applicants from Evidence Level 3 countries could face additional scrutiny, including six months of bank transaction history under a proposed interim measure

Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering migration issues and global affairs.

Melbourne, Australia - Australia's Department of Home Affairs is weighing significant changes to the way international students must prove their financial capacity before applying for a Student visa, with four distinct models currently on the table.

The department released a consultation paper on Friday, October 30, 2026, setting out the proposed reforms to both the Genuine Student (GS) requirement and the financial evidence framework. No decisions have been made, and all current Student visa requirements remain in force.

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Australia considers tougher student visa financial requirements

The core of the proposal involves how much money applicants must show they hold, and for how long, before submitting their application. Under the first model, known as "Managed 50%", students would need to demonstrate 50% of their total tuition and living costs, held for at least one month with controlled access to those funds.

The second option, "Flexible 50%", would also require 50% of total costs but held for a minimum of three months. A third model, "First-Year Financial Assurance", would raise the bar considerably, requiring full coverage of first-year tuition and living costs held for at least three months. The fourth option, "Recognised Education Finance", would allow students to use approved education loans, personal savings, or a combination of both.

The Australian Government is also considering whether applicants would need to hold their funds in an eligible Australian bank account or approved financial product before lodging their application. If that requirement is introduced, it could extend the time students need to gather documents and prepare their applications significantly.

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Visa: Additional scrutiny for level 3 country applicants

Separately, the Government is considering an interim measure that would affect applicants from Evidence Level 3 countries. Under this proposal, all primary Student visa applicants from those countries would be required to submit financial evidence at the point of lodgement, regardless of their education provider's Evidence Level classification.

Additional evidence requirements being considered include at least six months of bank transaction history, clear documentation showing the source and ownership of funds, stronger evidence of relationships with financial sponsors, and closer examination of loans and the institutions providing them. The existing prescribed financial amounts would not change initially under this interim measure.

Australia seeks feedback on visa changes

Stakeholders have until Monday, November 23, 2026 at 12:00 pm AEDT to submit feedback.

The consultation opened on Friday, October 30, 2026. After reviewing responses, the government will decide whether to proceed with any of the proposed changes. No implementation date has been set for any of the reforms currently under consideration.

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Australia introduces direct residency visa

Meanwhile, Legit.ng previously reported that Australia had announced a special visa that allows skilled workers to live and work permanently in the country.

The visa is designed for skilled workers who have secured a nomination from an eligible Australian employer.

It grants permanent residency from the point of approval, meaning successful applicants are not required to transition through a temporary status before settling in Australia.

Source: Legit.ng