Australia is a sophisticated, friendly country that enjoys one of the highest standards of living in the world. Students will need a minimum of AU $21,041 per year (excluding tuition) to cover living expenses such as accommodation, food, clothing, entertainment, transport, international and domestic travel and other incidental costs. The cost of living, however, depends a lot on the kind of accommodation a student chooses. A married student with a partner coming to Australia will need approximately an additional AU $7,362 per year and student with a child coming to Australia will need an additional AU $3,152 per year.
For your reference, here are some of the costs associated with living and studying in Australia (all costs are in Australian dollars). The costs below are an approximate guide only. Students should be aware that these costs can vary depending on your study location in Australia. Remember that you can shop around for items, such as clothing and shoes, to find a cheaper source.
The Department of Home Affairs has financial requirements you must meet in order to receive a student visa for Australia. As of October 2019 the 12-month living costs are:
- For students or guardians – AUD $21,041
- For partners coming with you – AUD $7,362
- For a child coming with you – AUD $3,152
The Home Affairs website covers in more detail how to work out how much money you might need to cover the costs of your stay in Australia as international student. The Insider Guides ‘Cost of Living Calculator’ is also a useful, practical tool to help estimate your cost of living in Australia www.insiderguides.com.au/cost-of-living-calculator/. To convert to your own currency, visit http://www.xe.com/.
The Australian Government provides information and guidance on managing your finances. You can read more at www.moneysmart.gov.au. All costs mentioned on Grenfell Institute of Technology Australia’s website are in Australian dollars. If you experience financial trouble while in Australia, talk to Grenfell Institute of Technology Australia’s international student support and services staff for assistance.