Many Nepali students dream of studying in Australia. It’s a chance to get a great education and experience a new culture. But first, you need to show you have enough money to live and study there. This is a big part of getting your Australian student visa (Subclass 500).
It can be tricky for Nepali students to gather all the right financial documents. This guide will make it easier. We’ll explain:
- What kind of money you can use.
- How to prove you have it.
- Simple tips to make the whole process smoother.
Why Financial Capacity Matters
The Australian Department of Home Affairs (DHA) requires international students to show they have sufficient funds to support themselves during their studies. This includes:
- Tuition fees for the first 12 months of your course.
- Living expenses (at least AUD 29,710 per year as of 2024).
- Travel costs (approximately AUD 2,000 for a return trip from Nepal).
- Schooling costs for any school-aged dependents (AUD 9,661 per child annually).
These requirements ensure you can live comfortably in Australia without relying on public funds or excessive work. For Nepali students, proving genuine access to these funds is critical to avoid visa rejection.
Acceptable Sources of Funds
The DHA accepts specific sources of funds to meet financial requirements. These must be genuine, accessible, and verifiable. Below are the main sources Nepali students can use:
1. Personal Bank Savings
You can show funds held in a personal bank account in your name, your parents’, or your spouse’s name. The funds should be held for at least three months before applying to demonstrate stability.
- Requirements:
- Provide bank statements showing a balance of at least AUD 29,710 (living expenses) plus tuition and travel costs.
- Statements must be official, issued by a registered financial institution, and no older than one month at the time of application.
- Funds must be accessible without restrictions (e.g., no locked fixed deposits without proof of release).
- Example:
Suman, a Nepali student applying for a Bachelor’s degree in Sydney, needs AUD 50,000 for tuition, AUD 29,710 for living expenses, and AUD 2,000 for travel, totaling AUD 81,710. His parents maintain a savings account with NPR 8,000,000 (approximately AUD 90,000) for six months. They provide bank statements and a letter confirming they will support Suman’s studies.
- Tip:
Open a savings account early and maintain a consistent balance. Avoid sudden large deposits, as they may raise questions about the source. If funds come from a third party (e.g., a relative), provide a letter explaining the relationship and their commitment to support you.
2. Education Loans
An education loan from a registered financial institution in Nepal (e.g., Nabil Bank, Himalayan Bank) is a common way to fund studies. The loan must be disbursed or approved before applying.
- Requirements:
- Provide a loan approval letter detailing the loan amount, terms, interest rates, and repayment schedule.
- Show evidence of disbursement (e.g., funds transferred to your account or directly to the education provider).
- Personal loans from family or friends are not accepted.
- Example:
Anita applies for a Master’s degree in Melbourne. Her course costs AUD 40,000 annually, and she needs AUD 71,710 total (tuition + living + travel). She secures an education loan of NPR 7,000,000 from Nepal Investment Bank, disbursed to her account. She submits the loan agreement and bank statements showing the disbursed amount.
- Tip:
Apply for the loan early, as processing in Nepal can take weeks. Ensure the loan covers at least 12 months of expenses. Include a No Objection Certificate (NOC) from Nepal’s Ministry of Education if transferring funds abroad.
3. Scholarships or Sponsorships
Scholarships from recognized organizations or institutions are a strong source of funds. These can be from Australian universities, the Australian government, or international organizations like the United Nations.
- Requirements:
- Provide an official scholarship letter stating the amount, duration, and conditions.
- For partial scholarships, show additional funds (e.g., bank savings or loans) to cover remaining costs.
- Sponsorships from a provincial or state government must have written support from the national government.
- Example:
Rajesh receives a partial scholarship of AUD 20,000 from the University of Queensland for his engineering course. The total cost is AUD 70,000 (tuition + living + travel). He supplements this with a bank statement showing NPR 5,000,000 in his parents’ account.
- Tip:
Research scholarships like Australia Awards or university-specific grants early. Contact your university’s international office for scholarship opportunities tailored for Nepali students.
4. Annual Income of Parents or Spouse
You can demonstrate financial capacity by showing the annual income of your parents or spouse/de facto partner. The income must meet the minimum threshold set by the DHA.
- Requirements:
- Minimum annual income of AUD 87,856 for a single applicant or AUD 102,500 if accompanied by family members.
- Provide tax returns, pay slips, or employment letters for the past 12 months.
- Prove the relationship (e.g., birth certificate for parents, marriage certificate for spouse).
- Example:
Priya’s father, a business owner in Kathmandu, earns NPR 10,000,000 annually (approximately AUD 112,000). She submits his tax returns, business registration, and a birth certificate to prove their relationship, covering her AUD 65,000 study costs.
- Tip:
Ensure income documents are recent and consistent. Avoid relying on business audit reports, as the DHA no longer accepts them for Nepali applicants. Instead, use bank statements or tax clearance certificates.
5. Assets (Property or Investments)
Funds from the sale of assets like property or investments can be used, but they must be liquid and accessible.
- Requirements:
- Provide title deeds, sale agreements, and bank statements showing the deposit of funds.
- Cash-based sales are not accepted; funds must be traceable through a bank.
- Example:
Bikash’s family sells a plot of land in Pokhara for NPR 6,000,000. They deposit the funds in a bank account and provide the sale deed, bank statement, and a letter explaining the transaction.
- Tip:
Complete asset sales well in advance and deposit funds in a bank account at least three months before applying to show stability.
Financial Requirements for 2024
The DHA updates financial requirements periodically to reflect Australia’s cost of living. As of 2024, Nepali students must show:
| Expense Type | Amount (AUD) | Approx. NPR (1 AUD = ~88 NPR) |
| Living Expenses (per year) | 29,710 | 2,614,480 |
| Travel Costs | 2,000 | 176,000 |
| Tuition Fees (1st year) | Varies (e.g., 20,000–50,000) | 1,760,000–4,400,000 |
| Schooling (per child/year) | 9,661 | 850,168 |
| Minimum Income (Single) | 87,856 | 7,731,328 |
| Minimum Income (With Family) | 102,500 | 9,020,000 |
Note: Tuition fees vary by course and institution. Check your Confirmation of Enrolment (CoE) for exact costs.
Chart Idea: A pie chart showing the breakdown of expenses (e.g., 40% tuition, 50% living, 10% travel) would help visualize costs for Nepali students. You can create this using tools like Canva or Excel.
Proving Genuine Access to Funds
Simply showing funds is not enough; you must prove they are genuinely accessible. This means demonstrating:
- Relationship to the fund provider: Provide documents like birth certificates, marriage certificates, or affidavits to show ties to parents or sponsors.
- Source of funds: Explain where the money came from (e.g., savings, salary, asset sale). Sudden large deposits may require additional evidence.
- Accessibility: Show that funds can be transferred to Australia. For Nepali students, include a No Objection Certificate (NOC) from the Ministry of Education to comply with Nepal’s foreign exchange regulations.
- Example:
Sunita’s uncle offers to fund her studies. She submits a bank statement showing NPR 6,500,000, an affidavit explaining their relationship, and a letter from her uncle confirming his support. She also includes an NOC to show the funds can be transferred.
- Tip:
Avoid using funds from unrelated third parties, as the DHA may question their authenticity. Always provide clear documentation to avoid delays.
Common Pitfalls and How to Avoid Them
- Insufficient Funds:
- Issue: Not showing enough money for all expenses.
- Solution: Use a student visa funds calculator (e.g., VisaEnvoy’s tool) to estimate exact requirements.
- Unacceptable Documents:
- Issue: Submitting business audit reports or personal loans from friends (not accepted for Nepali applicants).
- Solution: Use bank statements, loan approvals, or tax returns from registered institutions.
- Sudden Deposits:
- Issue: Large, unexplained deposits in your account.
- Solution: Maintain funds for at least three months and provide a paper trail (e.g., sale deeds, salary slips).
- Missing NOC:
- Issue: Nepal requires an NOC for transferring large sums abroad.
- Solution: Apply for an NOC at the Ministry of Education (cost: NPR 2,000) early in the process.
Tips for Nepali Students
- Start Early: Begin gathering financial documents 6–12 months before applying. This gives you time to save, secure loans, or apply for scholarships.
- Consult Experts: Work with registered migration agents or education consultants in Nepal (e.g., AECC Nepal, Edupark Asia) for guidance.
- Check Exchange Rates: Convert AUD to NPR using current rates (e.g., 1 AUD ≈ 88 NPR as of 2025) to ensure you meet requirements.
- Maintain Transparency: Clearly document the source of funds and your relationship to the provider to avoid suspicion.
- Explore Scholarships: Look for Australia Awards or university scholarships to reduce financial burden. Contact institutions directly or check the Study in Australia portal.
Additional Considerations for Dependents
If you plan to bring family members (spouse or children), you must show additional funds:
- Spouse: AUD 10,394 per year.
- Each child: AUD 3,152 per year, plus AUD 9,661 for schooling (if applicable).
- Example:
Deepak, a Nepali student, brings his wife and child. He needs AUD 29,710 (self) + AUD 10,394 (spouse) + AUD 3,152 (child) + AUD 9,661 (schooling) = AUD 52,917 for living and schooling, plus tuition and travel.
- Tip:
Include marriage and birth certificates to prove relationships. Ensure your financial documents cover all dependents’ costs.
Showing you have enough money is a key part of getting an Australian student visa for Nepali students. Using reliable sources like your savings, an education loan, scholarships, or your parents’ income, along with clear proof that these funds are genuinely available, will make your application stronger. Start gathering documents well in advance, keep everything honest and straightforward, and consider talking to a migration agent or education consultant for guidance. With good preparation, you can make your dream of studying in Australia come true.
For the latest updates, visit the Australian Department of Home Affairs website (immi.homeaffairs.gov.au) or consult a registered migration agent in Nepal.
