Australian currency
Australian currency is in dollars ($) and cents (¢)
In writing, it is coded as AUD.
Coins
The coins available are 5 cents, 10 cents, 20 cents, 50 cents, one dollar and two dollars.
The cents are silver in colour and dollars are gold. $1 coin is bigger than the $2 coin.
Banknotes
The banknotes available are $5, $10, $20, $50 and $100.
The banknotes are coloured with special security features. Visit Reserve Bank of Australia for further information.
Cash Rounding up and down
In Australia, the cash values are rounded up and down to the nearest five cents. 21 or 22 cents is rounded to 20 cents whereas 23 or 24 cents is rounded to 25 cents.
Currency exchange
Exchange services are offered at Melbourne Airport, Melbourne’s central business district (CBD) and in most of the banks. All foreign currency exchanges are charged. Visit Australian exchange rates for more information.
Cost of Living: Understanding the average cost is a significant phase when planning to study in Australia.
The Department of Immigration and Border Protection advices a living cost of AUD20,290 per year for a student or guardian. This includes food, accommodation, Clothes, transport and others and excludes tuition fees and Overseas Student Health Cover.
12 months of funds calculation: Applicable from 1st February 2018 as per the Department of Home Affairs, Australian Government
Living costs:
• Student/guardian – AUD20,290
• Partner/spouse – AUD7,100
• Child – AUD3,040.
Course fees:
Calculate the initial 12 months of course fees or add the total cost of course if it is for a period of 12 months or less. Prepaid costs must be deducted and evidence of payments must be submitted.
Study related expenses such as tuition fees, Overseas Student Health Cover and other fees (services and amenities) must be considered.
Schooling fees:
Schooling costs of AUD8,000 per year for each school aged child included in the student visa application must be added to the amount of funds that is required.
Children between 5 and 18 years of age must be enrolled in school if they are planning to live in Australia for 3 months.
Home set up costs:
The costs below are a rough guide only given by Australian government. Students must be attentive that these costs can vary depending on the study location in Australia.
Accommodation
• Hostels and Guesthouses – $90 to $150 per week
• Shared Rental – $85 to $215 per week
• On campus – $90 to $280 per week
• Homestay – $235 to $325 per week
• Rental – $165 to $440 per week
• Boarding schools – $11,000 to $22,000 a year
Other living expenses
• Groceries and eating out – $80 to $280 per week
• Gas, electricity – $35 to $140 per week
• Phone and Internet – $20 to $55 per week
• Public transport – $15 to $55 per week
• Car (after purchase) – $150 to $260 per week
• Entertainment – $80 to $150 per week
Travel costs:
If applying outside Australia, add AUD2,000 and if applying within Australia, add AUD1,000.
Family members of existing students:
Family members of existing student visa holders need to apply for a subclass 500 visa if they do not presently hold a student visa and like to join you in Australia.
Visit Department of Home Affairs to get further information on expenses.
Earning income
Student visa holders can work up to 40 hours per fortnight (two-week period) during university semesters, and full-time hours during vacations. Visit Work Conditions for further information.