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The cost of living in Australia can be quite high, especially in urban areas such as Sydney and Melbourne. Instead of allowing international students to struggle or be shell-shocked by the cost of living after they’ve arrived, the Australian government has opted to check out a student’s finances before they can even obtain a visa to enter the country.

You can have some information from https://www.border.gov.au/trav/stud/more/student-visa-living-costs-and-evidence-of-funds

MINIMUM REQUIREMENTS

The Department of Immigration and Citizenship has minimum requirements that you must reach in order to be able to obtain your student visa. Here are the minimum requirements as of the 1st of July of 2012.

Student: The student must have equivalent to one return air fare to the country of Australia. They must also have course fees and approximately $18,610 for the cost of living (rent, food, etc) in order to be considered for a student visa. This may differ depending on where you are living and what school you are attending.
Student’s spouse or partner: If you are married (as many who go into graduate studies are) or are in a committed relationship or civil union, you must also have proof of financial resources for your spouse or partner. They must have the equivalent of one return air fare to the country as well as an extra $6,515 for the overall cost of living. If they are taking classes as well, they must have enough for their own coursework.
Children: If your children are under the age of 6, the first one will add another air fare and $3,720 per year. Any additional children under age 6 will add an additional air fares and $2,790 per child. If your children are over the age of 6, the Department of Immigration and Citizenship will determine a cost based on your child’s age, school level, and the region of Australia that you are residing in.
If you have any questions about the minimum requirements, you can contact the financial aid office or international studies office at your university, or you can contact the Department of Immigration and Citizenship directly.

Note : This information can change due to various reasons