Financial Requirements

Acceptable sources of income

The money to support your family members must come from one or more acceptable sources.

Examples:

• Money deposits held in a bank account by you or a person supporting you.
• A loan from an approved financial institution.
• A loan from your government.
• Financial support from your education provider or another organisation.

Note: Non-cash assets such as property and shares are not acceptable evidence of income. However, non-cash assets may be liquidated or used as collateral on a loan.

Providing evidence of money deposits or loans

You may need to show evidence of how the money to support your family members was accumulated.

If your source of income is a money deposit held in a bank account, you must provide the following evidence:

• pay slips
• bank loan documents
• interest from investments.

If your source of income is a loan, you must provide the following evidence:

• a bank statement showing the amount of available credit
• a statement from the holder of the loan that its purpose is to support your studies.

Note: If your source of income is a home loan with a redraw facility from an Australian financial institution, the funds from the redraw facility may be considered a loan. A home loan with a redraw facility from a non-Australian financial institution may be acceptable, but must be considered on a case-by-case basis.