AUSTRALIAN STUDENT VISA NOTES Prepared by IDP Education Congratulations!!! At this stage of the admission process, you have already made the appropriate decision regarding the institutions of your choice, have submitted your applications and in some cases, perhaps even received the offer letter for your preferred program. Your next step is to apply for the student visa through IDP, to the Department of Immigration and Citizenship (DIAC). DIAC has standardized the visa criteria with the aim to provide more efficient visa processing by creating a transparent and consistent system in which the visa assessment is made. As part of the visa process a file is prepared as sent via the eVisa system to DIAC, Adelaide or via the paper based system to DIAC, New Delhi. You may be required to appear for an interview as part of the visa process. In most cases the interview is conducted by DIAC over the telephone. DEADLINES FOR LODGMENT OF VISA APPLICATION You must file your Australian student visa at least 12 weeks prior to the orientation or program start date at your university or institution. If you are looking at the Feb intake of a year, you should file latest by early November of the previous year. If you are looking at the July intake of a year, you should file latest by early April of that year. Please note that processing time for the student visa application varies and each case is assessed on its own merits. In some extreme cases if DIAC is not able to make a decision before your course commencement date and the institution is unable to grant further extension, you may have to defer your admissions to the next intake. E-VISA SYSTEM The student eVisa application services for Assessment Level 2 – 4 offshore students are available only through Education Agents who are registered with DIAC. IDP Education India Pvt Ltd is currently registered with DIAC and has a unique login and password to lodge your student visa application. The current eVisa application fee is AUD 565. 565. The payment has to be made via an international credit card.
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While Awaiting your Offer Letter Attend the Visa Seminar / Individual Visa Assessment Meeting Your IDP Counsellors will explain the eVisa procedures and assess if you meet the student visa criteria. Organize finances required for the E-visa. (Finances required depend on your Visa Subclass and Visa Assessment Level)
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Submit all the required e-visa documents to your counsellor Visa application fee Visa forms eCOE IELTS score sheet and Academic documents Work experience documents Financial documents Other documents documents as advised advised b the IDP counselor counselor includin includin statement statement of ur ose
Pay your Tuition Fee or Deposit Pay First semester Tuition fees (if you have an unconditional offer) or Deposit (if you have a conditional offer pending final results) and the compulsory Overseas Student Health Cover (OSHC) by Telegraphic Transfer (TT) or by an Australian Dollar Bank D raft. IDP will forward the payment along with the Acceptance of Offer Form. The Institution will then authorize an Electronic Confirmation of Enrolment (eCOE), which confirms your admission and is also a receipt for fees paid. The first payment must be disbursed from any loan that you have shown/availed for your education in Australia (if any).
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Lodge your eVisa Application and undergo Medical E xamination After receiving all the required documents IDP will lodge your visa application on the eVISA system. DIAC recommends you to lodge visa application 12 weeks prior to course start date. Once your eVisa is lodged, IDP will download your medical forms and hand it over to you. You then need to undergo a brief medical examination conducted by a doctor from the panel approved by DIAC Your eVisa application will be allocated a unique Transaction Reference Number(TRN) which you can use to query the st status atus of your application online. DIAC may conduct an interview as part of the recent **Genuine Temporary Entrant requirement effective 5 th Nov 2011
Receive Visa Approval When the visa officer makes a decision on your file a notification will be sent to IDP via email. This visa grant notification will have your TRN- transaction reference number and the terms and conditions of your student visa. You will need to carry a copy of this email, when you leave India. All immigration officers at the airports are able to access your visa information electronically. You will not have an Australian Visa stamp on your passport. Visa Entitlement Verification Online (VEVO) allows Visa holders to check their own visa details on www.immi.gov.au 2
While Awaiting your Offer Letter Attend the Visa Seminar / Individual Visa Assessment Meeting Your IDP Counsellors will explain the eVisa procedures and assess if you meet the student visa criteria. Organize finances required for the E-visa. (Finances required depend on your Visa Subclass and Visa Assessment Level)
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Submit all the required e-visa documents to your counsellor Visa application fee Visa forms eCOE IELTS score sheet and Academic documents Work experience documents Financial documents Other documents documents as advised advised b the IDP counselor counselor includin includin statement statement of ur ose
Pay your Tuition Fee or Deposit Pay First semester Tuition fees (if you have an unconditional offer) or Deposit (if you have a conditional offer pending final results) and the compulsory Overseas Student Health Cover (OSHC) by Telegraphic Transfer (TT) or by an Australian Dollar Bank D raft. IDP will forward the payment along with the Acceptance of Offer Form. The Institution will then authorize an Electronic Confirmation of Enrolment (eCOE), which confirms your admission and is also a receipt for fees paid. The first payment must be disbursed from any loan that you have shown/availed for your education in Australia (if any).
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Lodge your eVisa Application and undergo Medical E xamination After receiving all the required documents IDP will lodge your visa application on the eVISA system. DIAC recommends you to lodge visa application 12 weeks prior to course start date. Once your eVisa is lodged, IDP will download your medical forms and hand it over to you. You then need to undergo a brief medical examination conducted by a doctor from the panel approved by DIAC Your eVisa application will be allocated a unique Transaction Reference Number(TRN) which you can use to query the st status atus of your application online. DIAC may conduct an interview as part of the recent **Genuine Temporary Entrant requirement effective 5 th Nov 2011
Receive Visa Approval When the visa officer makes a decision on your file a notification will be sent to IDP via email. This visa grant notification will have your TRN- transaction reference number and the terms and conditions of your student visa. You will need to carry a copy of this email, when you leave India. All immigration officers at the airports are able to access your visa information electronically. You will not have an Australian Visa stamp on your passport. Visa Entitlement Verification Online (VEVO) allows Visa holders to check their own visa details on www.immi.gov.au 2
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Effective 5 Nov 2011, Genuine Temporary Entrant requirement has been introduced for all student visa applicants. Your individual circumstances must demonstrate that you genuinely intend to stay in Australia temporarily. The factors that are considered during assessment of the genuine temporary entrant (GTE) requirement include: your personal circumstances in your home country, your potential circumstances in Australia, the value of the course to your future, your immigration history, and any other matter that is relevant to your intention to remain in Australia temporarily. The information provided in your application form and supporting documentation will be used to assess the GTE requirement. You may be requested to provide additional information or face and interview in relation to the factors set out above. A genuine student is someone who has genuine intentions of perusing education in Australia and is making a planned, informed decision to study the program of his choice.
UNDERSTANDING YOUR VISA SUBCLASS AND VISA ASSESSMENT LEVEL The Australian student visa is education sector specific based on your principal course of study and every course fits into a particular visa subclass. The visa subclass is a categorization of your course based on the level of study. study . The passport you hold and the education sector of your principal course will determine the assessment level (AL) of your visa application. There are five assessment levels in the student visa program. They serve to align student visa requirements to the immigration risk posed by applicants from a particular country studying in a particular education sector. Assessment level 1 represents the lowest immigration risk and assessment level 5 the highest. The higher the assessment level, the greater the evidence an applicant is required to demonstrate to support their claims for the grant of a student visa. The visa subclasses and respective assessment levels (AL) for Indian for Indian nationals are as follows: AL for Indian nationals
VISA SUBCLASS 572
VOCATIONAL EDUCATION AND TRAINING Sector (Certificate I to IV, VET Diploma, VET Advanced Diploma, Vocational Graduate Certificate, Vocational Graduate Diploma)
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Note: You can apply under this subclass for up to four Certificate level courses (not including ELICOS studies) that include a Certificate IV course, which totals at least 12 months duration 573
574
HIGHER EDUCATION Sector (Higher Education Diploma, Higher Education Advanced Diploma, Bachelor Degree, Associate Degree, Graduate Certificate, Graduate Diploma, Masters by coursework) POSTGRADUATE RESEARCH Sector (Masters by research, Doctoral Degree)
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Make a note of the Subclass that your course will fall under so that you can plan your visa file in accordance with the same. I fall under Subclass: ____________________ 3
WHAT ARE THE CRITERIA AGAINST WHICH YOU WILL BE ASSESSED? All student visa applications are subject to standard immigration checks. The main areas are: 1. FINANCIAL ABILITY You need to provide documentary evidence of having the requisite financial assets held by acceptable sponsors and in acceptable financial institutions/ modes. All funds must be consistent with income of sponsor. The financial proofs should be adequate to cover your tuition and living costs during your stay in Australia. 2. ENGLISH LANGUAGE PROFICIENCY The IELTS score is the measure of English language proficiency. You cannot lodge a student visa application without a valid IELTS score. The minimum score requirement differs for each visa subclass. Some alternative tests for English are also accepted (TOEFL/ PTE/ CAE) 3. HEALTH In order to meet the health requirements for your student visa application you are required to undertake a medical examination inclusive of chest x-ray and a urine test. The medical examination will be conducted by doctors empanelled by DIAC. You need to book an appointment with these doctors and duly complete your medical forms. The medical reports are confidential and will be sent directly to DIAC in Sydney for review and clearance. The link below has the updated panel of doctors recommended by DIAC for medical examination required for student visas. http://www.immi.gov.au/contacts/overseas/i/india/panel-doctors.htm#l 4. POTENTIAL TO BREACH VISA CONDITIONS (CHARACTER, SECURITY, EDUCATION checks): DIAC builds a profile of you during assessment and looks closely at past academic performance, family background, employment history, study goals and career aspirations. You must establish strong links between past accomplishments and future study and career goals.
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WHO CAN SPONSOR YOUR EDUCATION IN AUSTRALIA? List of Sponsors acceptable to DIAC
572
573
574
Applicant (Self sponsor)
Y
Y
Applicant‟s parents
Y
Y
Y
Applicant‟s grandparents (paternal and maternal)
Y
Y
Y
Applicant‟s s pouse
Y
Y
Y
Applicant‟s brother and sister (Cousins NOT acceptable)
Y
Y
Y
Y*
Y
Y
Bank Loans – (education, personal, overdraft)
Y
Y
Y
Others ( e.g. extended family, in-laws)
N
Y
Y
Applicant’s uncle and aunt (Immediate brother or sister of applicants parents ONLY)
*For Subclass 572 students, your aunt or uncle MUST be: a permanent resident or citizen of Australia or an eligible New Zealand citizen usually resident in Australia Note: Proof of relationship is required for all acceptable sponsors. Documents that are acceptable as evidence of relationship include: Passport, Voters ID, Driving License, Ration Card, Birth Certificate, and Marriage Certificate. Please make sure that the document has the “name of the person” and the “relationship of the person” mentioned. Every sponsor‟s affidavit will have to include a valid reason for sponsorship.
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Y
ELIGIBILITY CRITERIA for VET sector – SUBCLASS 572 – ASSESSMENT LEVEL 4 What does the visa let you do? With this visa: you can study in Australia eligible dependant family members can accompany you to Australia when you have commenced your course of study in Australia, you can work up to 20 hours per week while your course is in session and unlimited hours during scheduled course breaks. your family members can work up to 20 hours per week provided you have commenced your course of study in Australia.
Eligibility Criteria
Description
Accepted in full-time study
You must be accepted for full-time study in a registered course or part of a registered course to be eligible for this visa.
Financial requirements
You must have enough money to pay for travel, tuition and living expenses for yourself, your partner and your dependent children for the duration of your stay in Australia. You must also have enough money to support your partner and dependent children, even if they do not travel with you to Australia. You must: show proof that you can meet these financial requirements for the first 24 months of your stay in Australia. declare on your application that you can meet these financial requirements for the remainder of your stay in Australia.
Minimum liquid asset requirement ** Liquid assets must be held for at least three consecutive months immediately before the date of your visa application by acceptable sponsors
TUITION FEES (as per the Letter of Offer) for first 24 months of the program (including any ELICOS, bridging, or foundation course) + LIVING COSTS (AUD 18000 pa) for first 24 months of the program (including any ELICOS, bridging, or foundation course) + TRAVEL COSTS (AUD 2000 per individual) ** Additional money needs to be evidenced for the expenses of your spouse and dependent children for the duration of your stay in Australia.
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Supporting family members when studying for less than 12 months
Health requirements & health insurance
If you are applying to study in Australia for less than 12 months, your family members are not eligible to come with you to Australia. However, you must show that you have enough funds to support your family members in your home country, taking into consideration the standard cost of living in that country. You must obtain Overseas Student Health Cover (OSHC) for the full period of your visa.
English language skills You must provide test results of one of the following: a) International English Language Testing System (IELTS) Certificate IELTS test score of: 5.5 or above for direct entry into a course; or
5.0 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 20 weeks . Note: You can take the Academic or General IELTS test to meet English Language requirements for a student visa. However, please check with your Australian education provider about which test they require for your enrolment.
b) Test of English as a Foreign Language internet-Based Test (TOEFL iBT) Certificate TOEFL iBT score of: 46 or above for direct entry into a course; or 35 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 20 weeks . c) Pearson Test of English (PTE) Academic Certificate PTE Academic score of: 42 or above for direct entry into a course; or 36 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 20 weeks . d) Cambridge English: Advanced (CAE) Certificate CAE test score of:
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47 or above for direct entry into a course; or 41 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 20 weeks. e) Occupational English Test (OET) Certificate OET score of 'pass' f) TOEFL Paper-Based Test (PBT) Certificate (This test is only acceptable if taken in one of the following countries where IELTS is not available: Belarus, Ecuador, El Salvador, Guatemala, Honduras, Kyrgyzstan, Mali, Moldova, Solomon Islands, Suriname, Tajikistan, Tanzania, Uganda and Uzbekistan.) TOEFL PBT test score of: 527 or above for direct entry into a course; or 500 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 20 weeks . Note: Tests older than two years are not acceptable.
OR
You must provide evidence that you have: studied in English for at least five years in Australia, Canada, New Zealand, Republic of Ireland, South Africa, United Kingdom or United States or within two years of your application date have successfully completed in Australia o
a foundation course
o
a Senior Secondary Certificate of Education or
o
OR
Academic record and history
a substantial part of a Certificate IV or higher level qualification, from the Australian Qualifications Framework.
If you are a fully funded student, your education provider will advise you of the level of English you require and the evidence you must provide. If you are applying for your first student visa, you must provide evidence that you have successfully completed Year 12 or equivalent.
For information on how this visa works: http://www.immi.gov.au/students/students/572-4/how-the-visaworks.htm For information on your visa obligations: http://www.immi.gov.au/students/students/572-4/obligations.htm 8
ELIGIBILITY CRITERIA for HIGHER EDUCATION sector – SUBCLASS 573 – ASSESSMENT LEVEL 3 (Effective April 2011) What does the visa let you do? With this visa: you can study in Australia eligible dependant family members can accompany you to Australia when you have commenced your course of study in Australia, you can work up to 20 hours per week while your course is in session and unlimited hours during scheduled course breaks. your family members can work up to 20 hours per week provided you have commenced your course of study in Australia. If you are doing a postgraduate course, such as a Masters degree, your family members can work unlimited hours once you commence this course. Eligibility Criteria
Description
Accepted in full-time study
You must be accepted for full-time study in a registered course or part of a registered course to be eligible for this visa.
Financial requirements
You must have enough money to pay for travel, tuition and living expenses for yourself, your partner and your dependent children for the duration of your stay in Australia. You must also have enough money to support your partner and dependent children, even if they do not travel with you to Australia. You must: show proof that you can meet these financial requirements for the first 18 months of your stay in Australia. declare on your application that you can meet these financial requirements for the remainder of your stay in Australia.
Minimum liquid asset requirement ** Liquid assets must be held for at least three consecutive months immediately before the date of your visa application by acceptable sponsors
TUITION FEES (as per the Letter of Offer) for first 18 months of the program (including any ELICOS, bridging, or foundation course) + LIVING COSTS (AUD 18000 pa) for first 18 months of the program (including any ELICOS, bridging, or foundation course) + TRAVEL COSTS (AUD 2000 per individual) ** Additional money needs to be evidenced for the expenses of your spouse and dependent children for the duration of your stay in Australia.
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Health requirements & health insurance
You must obtain Overseas Student Health Cover (OSHC) for the full period of your visa.
English language skills You must provide test results of one of the following: a) International English Language Testing System (IELTS) Certificate IELTS test score of: 6.0 or above for direct entry into a course; or
5.5 to do a foundation course (but no ELICOS) to be taken before your main course; or 5.0 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 30 weeks . Note: You can take the Academic or General IELTS test to meet English Language requirements for a student visa. However, please check with your Australian education provider about which test they require for your enrolment.
b) Test of English as a Foreign Language internet-Based Test (TOEFL iBT) Certificate TOEFL iBT score of: 60 or above for direct entry into a course; or 46 to do a foundation course (but no ELICOS) to be taken before your main course; or 35 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 30 weeks . c) Pearson Test of English (PTE) Academic Certificate PTE Academic score of: 50 or above for direct entry into a course; or 42 to do a foundation course (but no ELICOS) to be taken before your main course; or 36 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 30 weeks . d) Cambridge English: Advanced (CAE) Certificate CAE test score of: 10
52 or above for direct entry into a course; or 47 to do a foundation course (but no ELICOS) to be taken before your main course; or 41 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 30 weeks. e) Occupational English Test (OET) Certificate OET score of 'pass' f) TOEFL Paper-Based Test (PBT) Certificate (This test is only acceptable if taken in one of the following countries where IELTS is not available: Belarus, Ecuador, El Salvador, Guatemala, Honduras, Kyrgyzstan, Mali, Moldova, Solomon Islands, Suriname, Tajikistan, Tanzania, Uganda and Uzbekistan.) TOEFL PBT score of: 550 or above for direct entry into a course; or 527 to do a foundation course (but no ELICOS) to be taken before your main course; or 500 with an ELICOS course to be taken before your main course. You can study a preliminary English course for up to 30 weeks . Note: Tests older than two years are not acceptable.
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OR
You must provide evidence that you have: studied in English for at least five years in Australia, Canada, New Zealand, Republic of Ireland, South Africa, United Kingdom or United States or within two years of your application date have successfully completed in Australia o
a foundation course
o
a Senior Secondary Certificate of Education or
o
Academic record and history
a substantial part of a Certificate IV or higher level qualification, from the Australian Qualifications Framework.
If you are applying for your first student visa, you must provide evidence that you: successfully completed Year 12 or equivalent, by providing school reports and academic records successfully completed Year 11 or equivalent, by providing school reports and academic records, and have completed or are enrolled in a Foundation course in Australia. Note: A Foundation course is a course registered on the Commonwealth Register of Institutions and Courses for Overseas Students (CRICOS) as 'Foundation Studies'. successfully completed a qualification from the Australian Qualification Framework at Certificate IV level or higher in a course that was conducted in Australia or have a Confirmation of Enrolment in a course that leads to a qualification from the Australian Qualification Framework at Certificate IV level or higher, and that you will complete before your main course.
For information on how this visa works: http://www.immi.gov.au/students/students/573-3/how-the-visaworks.htm For information on your visa obligations: http://www.immi.gov.au/students/students/573-3/obligations.htm
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ELIGIBILITY CRITERIA for POSTGRADUATE RESEARCH sector – SUBCLASS 574 – ASSESSMENT LEVEL 2 What does the visa let me do? With this visa: you can study in Australia eligible dependant family members can accompany you to Australia when you have commenced your course of study in Australia, you can work up to 20 hours per week while your course is in session and unlimited hours during scheduled course breaks. your family members can work up to 20 hours per week provided you have commenced your course of study in Australia. Once you commence your Masters or PhD your family members can work unlimited hours.
Eligibility Criteria
Description
Accepted in full-time study
You must be accepted for full-time study in a registered course or part of a registered course to be eligible for this visa.
Financial requirements
You must have enough money to pay for travel, tuition and living expenses for yourself, your partner and your dependent children for the duration of your stay in Australia. You must also have enough money to support your partner and dependent children, even if they do not travel with you to Australia. You must: show proof that you can meet these financial requirements for the first 12 months of your stay in Australia declare on your application that you can meet these financial requirements for the remainder of your stay in Australia.
Minimum liquid asset requirement
First Year TUITION FEES (as per offer letter) + LIVING COSTS (AUD 18,000 pa) + TRAVEL COSTS (AUD 2000 per individual) ** Additional money needs to be evidenced for the expenses of your spouse and dependent children for the duration of your stay in Australia.
Fully Funded Students
If you are a fully funded student, you must show evidence that the sponsoring agency, government or organisation will cover the cost of: travel, tuition and living expenses for yourself and dependent family members accompanying you to Australia 13
supporting your dependent family members remaining in your home country, taking into consideration the local standard of living.
Health requirements & health insurance
You must obtain Overseas Student Health Cover (OSHC) for the full period of your visa.
English language skills
Your Australian education provider who will advise you about the level of English you need and the evidence you must provide.
Academic record and history
If you are applying for your first student visa, you must provide your academic records to show that you have successfully completed an undergraduate degree or equivalent.
For information on how this visa works: http://www.immi.gov.au/students/students/574-2/how-the-visaworks.htm For information on your visa obligations: http://www.immi.gov.au/students/students/574-2/obligations.htm
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ADDITIONAL LIQUID ASSET REQUIREMENTS FOR SPOUSE AND CHILDREN If you are married and have children, your spouse and your children are your dependants for the purpose of your Australian student visa application. You dependants will automatically be included in the assessment of cost to live in Australia irrespective of whether or not they are traveling or staying with you in Australia. Your sponsor will have to evidence a further amount in liquid assets to cover the travel and living costs of your dependants for the duration of your stay in Australia. Dependent visas are issued ONLY if the student is going for a program, which is more than one year in duration. If you are applying to study in Australia for less than 12 months, your family members are not eligible to come with you to Australia. However, you must show that you have enough funds to support your family members in your home country, taking into consideration the standard cost of living in that country. STANDARD FIGURES USED BY DIAC The exchange rate is currently taken at 1AUD = INR 46 (subject to change in accordance with the current market value) ** Effective January 01, 2010, the exchange rate used to determine the financial capacity will be the exchange rate applicable at the time of lodgment of the application, unless there has been a variation of more than 10%. The table outlines the minimum amount in Australian dollars (AUD) that you need to evidence in your student visa application. These amounts do not necessarily represent the cost of living in Australia. EXPENSES Tuition
Living
Travel
PER PERSON Yourself Children aged 5 – 17
AMOUNT REQUIRED IN A$
Yourself Spouse First child Each other child Yourself Applicant dependants
Course fees A$8,000 per year (school tuition fees) Schooling cost may also be taken at actuals if supporting documents prove the current school tuition fee. A$18,000 per year A$6,300 per year A$3,600 per year A$2,700 per year A$ 2,000 (Return air fare to Australia) A$ 2,000 (Return air fare to Australia per person)
Infant
A$1,000 ( 0 - 2 years)
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What are LIQUID ASSETS in the definition of DIAC? All liquid assets evidenced, must be held in banks approved by DIAC. The list of currently acceptable banks is given at the end of the notes. Shared (joint) accounts are acceptable if all account holders are eligible sponsors for that visa subclass. Where the liquid assets are held jointly – the joint holder is considered as a partial sponsor. Every partial sponsor must submit sponsorship documents. (Sponsorship affidavit, statement of assets and proof of income) All financial documents must be attested by the CA or relevant authority (eg. Bank Manager) 1. Savings bank accounts (ONLY approved banks) Funds should be held for a period relevant to the visa subclass. Updated bank statements to the date prior to lodgement of the visa application are required 2. Fixed deposits (ONLY approved banks) Funds should be held for a period relevant to the visa subclass. Only PRINCIPAL amount is considered as liquid asset
PLEASE NOTE: Effective: 09/06/2005: The withdrawable amount from an Indian GPF/ EPF can be made only for specific reasons which includes education expenses, ONLY for immediate family members. DIAC will NOT accept this as an acceptable fund in cases outside of family members.
3. Post Office accounts Savings account, FD‟s (Funds should be held for a period relevant to the visa subclass), Time Deposit(full amount considered if doesn‟t fall in the lock-in-period of 6 months) Monthly Income Scheme (MIS - Principal amount invested is considered after 1 year from date of opening the account) Recurring Deposits (Funds held for the period relevant to the visa subclass taken after 3 years from the date of opening the account in post office & Minimum balance for the relevant period is considered if held in bank.) National Savings Scheme (NSS – Funds should be held for a period relevant to the visa subclass) Senior Citizen Savings Scheme (Funds should be held for a period relevant to the visa subclass if held in bank & Full amount is considered if it does not fall within the lock-in period of 1 year if held in post Office )
4. Public Provident Fund (PPF – held in State Banks or Post Office) ONLY the WITHDRAWABLE amount is accepted Letter from the relevant authority confirming the withdrawable amount is mandatory 5. Employee Provident Fund – (PF / EPF / GPF) Only WITHDRAWABLE amount is accepted Letter from the employer confirming that the amount can be permanently withdrawn for education expenses of the student is mandatory Company loans taken against PF / EPF / GPF are NOT acceptable 16
6. Bank Loan (Sanctioned by ONLY approved banks) A commercial loan sanctioned ONLY by a bank Notes on Bank Loans approved by the DIAC will be considered as an acceptable liquid asset In case of bank loans / OD, the The loan must be „fully‟ sanctioned. An „in-principle‟ income for all financial sanction is NOT acceptable. sponsors is taken into The loan must be sanctioned in the student‟s name consideration to calculate the If taking a personal loan or demand loan, the repayment capacity. sanction letter must mention that the money can be used for education expenses. If bank loan / OD is secured The assets you pledge as collateral for the loan against a recently created FD, must be in the name of your acceptable sponsors. please provide the source of An attested copy of the collateral must be funds for the FD. submitted with the loan letter. Loans against LIC Policies and Mutual funds are Bank Loan / OD disbursement not acceptable letter is required to be Loan issued against life insurance, super annuation produced prior to visa funds; gold, shares and Kisan Credit Cards (KCC) lodgement as evidence of are not acceptable. Collateral owned by nonpaying the first instalment fee. eligible sponsors is also not acceptable.. Acceptable sponsors must evidence the capacity to repay the loan The loan must be partially disbursed prior to the visa application. The disbursed money must be used to pay the tuitions and OSHC If collateral is made using funds other than regular income then the applicant must provide the trail of funds. For example, a sale deed can be provided as evidence if funds are obtained by sale of property. Please note that sale agreements are not acceptable. Only the registered sale deed is acceptable for visa purposes. 7. Overdraft (OD) facility (Sanctioned by ONLY approved banks) The sanction letter must clearly state that the overdraft facility available to the acceptable sponsor can be used for education purpose An attested copy of the collateral must be submitted with the loan letter.
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POINTS TO CONSIDER WITH REFERENCE TO ACCEPTABLE LIQUID ASSETS & SOURCE OF FUNDS Source of funds need to be traced for all liquid assets Cash transactions are NOT acceptable as liquid assets Cash transactions are NOT acceptable as source of funds for liquid assets A gift from any source will not be considered, as all income shown should be earned. An exception to this will be Inheritance in which case a copy of the inheritance agreement will be required. All accounts will be checked for evidence that the sponsor has sufficient income to have those funds. If the sponsor that come to have the funds through legitimate sources (eg. Inheritance) it will be acceptable. Non-employment based sources of income may include evidence of interest from business or share portfolio. The supporting documents for the same may include tax assessment documents, business licence etc. The supporting documents must clearly demonstrate the income stream. Sale of jewellery is NOT acceptable as source of funds for liquid assets as the rate of fraudulent jewellery sale in India is unacceptably high. Sale of assets such as vehicles will NOT be acceptable as source of funds for liquid assets. If your sponsor would like to transfer funds from an unacceptable source (eg. Co-operative bank) to an acceptable source (eg SBI) it will have to be done three months prior (For Subclass 570,572,573,575) to the visa application. These funds must then be consistently held in the acceptable liquid asset for the period applicable to your visa subclass.
WHICH FINANCIAL INSTRUMENTS DO NOT CONSTITUTE LIQUID ASSETS? 1. Funds in Cooperative / Rural banks/ any foreign and private banks not on the approved list 2. Funds from Charitable Trusts or Religious Institutions 3. NSC 4. IVP / KVP 5. LIC policies 6. Deposits with Companies 7. Shares / Bonds / Debentures / Mutual funds 8. Credit card Limit/ Kisan Credit Card (KCC) 9. Gold and jewellery 10. Cash in Hand
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CHECKLIST OF MANDATORY FINANCIAL DOCUMENTS TO BE SUBMITTED BY EACH SPONSOR The following documents are required by DIAC as evidence of the financial ability of your sponsor(s) to meet the tuition and living costs of the applicant and his dependants (applicants spouse and children) for the duration of the course. In addition to the liquid asset requirements, the sponsors need to evidence the availability of sufficient funds to cover expenses related to remainder course of study. The sponsor also needs to evidence sufficient funds to look after expenses of his family and self. Documents in a regional language must be translated into English and notarized. All financial documents must be attested by the CA or relevant authority (eg. Bank manager) Document
Description and Requirements
Notarized Affidavit of Sponsorship
The affidavit must be notarized. For sponsors in India the affidavit must be prepared on Stamp paper (any denomination) The affidavit has to be signed by all sponsors. Sponsors could choose to sign a combined affidavit The full contact details (name, address, contact numbers during business hours) of all sponsors must be included The affidavit must state the number and age of dependants of the financial sponsor and explain how their expenses will be met The affidavit must explain the financial plan and saving pattern of the sponsor The affidavit should mention if the acceptable sponsors are meeting your full / partial expenses The affidavit should mention if a bank loan has been availed together with the repayment plan Sponsors other than parents should mention very valid reasons for wanting to sponsor.
Current dated Statement of Financial Assets and Liabilities
Should be on the Chartered Accountant‟s (CA) letterhead with all his contact details and Registration no. duly mentioned. This document must state that the CA has verified all the financial documents that are attached with the application, and certifies them to be true. The statement has 3 divisions under Assets Acceptable liquid assets: The section must include only those assets acceptable to the DIAC and must cover at least the minimum financial requirement of your subclass. Non-Acceptable Funds: This section can have all other financial instruments, not acceptable to the DIAC as liquid assets. Immovable Assets: This section must have the market value of all the property and land held by your sponsor 19
Bank accounts (ONLY approved banks)
Original bank statement or passbook duly updated to date prior lodgement of application or Photocopy of bank statement or passbook duly attested by the respective bank manager (with the date it was attested), must be submitted for 6 month / 3 month period (as applicable) prior to visa filing. Attach supporting documents for source of funds of large deposits in the account It is also important that you attach a visiting card of the bank manager for verification purposes by DIAC
Fixed Deposits (ONLY approved banks)
Original and photocopy of the front and back of the FD certificate must be submitted duly attested by your CA or bank manager. FD‟s which have been pledged for a loan will not be taken as a liquid asset. You will also have to attach a letter from the Bank Manager giving details of the FD‟s held. (FD Receipt number, Name of the holder, issue date, maturity date, period held and if the FD has been renewed or not). The letter must clearly state that the FD is free from loan / lien. Attach supporting documents for source of funds if FD has been created recently It is also important that you attach a visiting card of the bank manager for verification purposes by DIAC
Post Office accounts
Original and copy of all post office passbooks duly attested by the CA / Post Master It is also important that you attach a visiting card of the relevant authority for verification purposes by DIAC
Public Providend Fund (PPF – held in State Banks or Post Office)
Original and copy of the entire PPF passbook duly attested by the CA, bank or post office must be submitted. In addition a letter from the relevant authority (Bank manager or Post Master) is required clearly stating the withdrawable amount as of date. It is also important that you attach a visiting card of the relevant authority for verification purposes by DIAC
Employee Providend Fund (PF / EPF / GPF)
Original and copy of the letter from the employer or PF authority stating the permanently withdrawable amount for the education of the student. It is preferred that the student name is mentioned on the letter Latest EPF / GPF statement is also required (as per the last financial year) It is also important that you attach a visiting card of the relevant authority for verification purposes by DIAC
Bank Loan / Overdraft Facility (Sanctioned by approved banks ONLY)
Original and copy of loan sanction letter Attested copy of collateral documents (Proof of ownership of property, valuation report of property) If the collateral has been acquired recently, source of funds for the same must be attached It is also important that you attach a visiting card of the relevant authority for verification purposes by DIAC 20
CHECKLIST OF MANDATORY INCOME DOCUMENTS TO BE SUBMITTED BY EACH SPONSOR All sponsors are required to submit documents that prove the source of income and establish the profession or business of the sponsor. Income must be consistent with funds and loan availed If income is not consistent with the accumulated funds or loan, source of accumulated funds must be provided. Hand loans shown as per promissory notes and sale of fixed assets other than immovable property are not acceptable sources of funds Documents in a regional language must be translated into English and notarized. All proof of income documents must be attested by the CA or relevant authority (eg. Bank manager) Type of Income
Description and Requirements
Income from Salary
PAN card copy IT return copies filed for the last 3 years along with the computation of income Form 16 copies for the last 3 years Salary slip copies for the last 3 months Letter from employer, confirming employment, stating annual income, and giving contact details (address and contact numbers) of the employer.
Income Business
TIN (Taxpayer Identification Number) / VAT No. Card copy IT returns copies filed for the last 3 years, along with the computation of income Company balance sheet for the last 3 years indicating profit share / current account / capital account Current account bank statements of the company for the last 6 months Proof of ownership - proprietorship / partnership / directorship If sponsor is a proprietor of a firm o Registration proof (usually the Sales tax Registration) o Statement of the current account (for the last 6 months) Letter from Bank where firm‟s account is maintained indicating o the name of the proprietor and the firm If sponsor is a partner in a firm o Partnership deed o IT returns of the company for the last 3 years If sponsor is a director in a company MOA and Articles of Association of the company o o Company Registration Certificate o Salary certificate from the company
from
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Income from property (Rental Income)
IT returns filed for the last 3 years, along with computation of income reflecting rental income Property ownership documents Lease deed. In the absence of a lease deed, affidavits from tenants stating the amount of rent paid or 6 rent receipts should be provided. Bank accounts showing deposit of rental income (if applicable)
Income from other sources (eg. Interest income)
IT returns filed for the last 3 years, along with computation of income. In the absence of IT returns, CA statement with computation of income required Supporting documents to prove income eg. Share portfolio, bank statements, FD copies
Agricultural income
IT returns showing agricultural income (especially in case of commercial crops) Proof of income from sale of agricultural produce, by way of receipts, and letters from buyers in case of cash sales. Receipts of sale (J Forms) Ownership documents evidencing ownership of agricultural land Letter from the village administrative officer (VAO) confirming details like extent of land owned, yield per hectare, crops grown etc. Bank accounts showing deposits of agricultural income. Khewat number document Khatauni number document Hadbast number document Note: Documents in a regional language must be translated into English and notarized.
Income from homerun business
IT returns (if any) License and registration proof Affidavits from clients to prove the volume of business and income received. Pamphlets, adverts, photographs etc. to show proof of business. Copies of bill books, etc to prove income earned.
Income from Dairy farming
Income certificate from Veterinary officer; name of officer, contact details of officer and veterinary office address must be mentioned on the certificate Veterinary officer to certify the number of cattle
Retirement income
Letter from employer giving pension details or Pension Payment Order Recent bank statements showing credit of pension
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ADDITIONAL CHECKLIST OF MANDATORY FINANCIAL DOCUMENTS FROM SPONSOR WORKING OR SETTLED OVERSEAS In the addition to the above mentioned documents, sponsors working or settled overseas, are required to provide additional supporting documentation. For these sponsors the financial and income documents can be attested by the Notary, Justice of Peace or Indian Embassy (if in the Gulf countries). For sponsors in the Gulf countries, IT returns are NOT required. Document
Description and Requirements
Letter from employer
The letter must clearly state the period of employment, position held, salary drawn, visa status, nature of employment (contractual or permanent) and job description. The contact details of the employer (address, telephone, fax number and email address) must be included for verification purposes by DIAC.
Passport, visa and residency permit details
Duly attested
ACADEMIC DOCUMENTS FOR YOUR EVISA APPLICATION: All original academic documents have to be sent to DIAC. They will be returned to you when a decision is made on your visa file. What is DIAC assessing about your academic record and background? Whether your academic record meets the intended level of study Whether you will be able to effectively cope with the Australian education system Whether all your mark sheets and certificates are genuine and that there are no signs of alteration and forgery. (Do not laminate your mark sheets / certificates if you have not done so already) Notes: Submit every single mark sheet and certificate (the ones with failures too) in Original and a photocopy. Apply to the relevant University / Board for duplicate mark sheets in cases where you have misplaced an original mark sheet Apply for your University Convocation Certificate if you do not have one at present If you are currently enrolled in a diploma / degree program, you need to submit a letter from your institution confirming the same If you are awaiting your final year results / convocation certificate, then get a letter from your college / university stating the same.
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WORK EXPERIENCE DOCUMENTS FOR YOUR EVISA APPLICATION: All original work experience documents have to be sent to DIAC. They will be returned to you when a decision is made on your visa file. Your work experience letters must Mention the duration (eg. April 1999 to May 2001) of your employment Mention your designation, job description and say some nice things about you Have the full name of the person who has signed the letter together with the most recent contact details (DIAC often calls to verify the information). If you cannot get a letter from an organization you have worked with or currently working with then you must o Submit your appointment letter with the 3 most recent salary slips o Explain why a letter from your employer cannot be obtained. Note: If you have gaps in your academic or work background, please provide documents and an explanation Form 1221 to credibly substantiate your activities in the interim period STATEMENT OF PURPOSE The statement of purpose is an essay that you must write clearly stating your intentions to go to Australia. Keep in mind that DIAC will be reading this document to make the right decision on your visa application. Since the visa process does not always involve personal interviews, do remember, „You are what you write‟. Hiding facts and dishonesty however, must be avoided at all costs. This statement must be impressive and not more than 500 to 750 words. OTHER MANDATORY DOCUMENTS FOR YOUR EVISA APPLICATION (As applicable) If you are married you need to submit the following documents irrespective of whether or not your spouse is accompanying you to Australia: Marriage certificate Marriage invitation 6 photographs of the ceremony / reception If you have children you need to submit the following documents irrespective of whether or not your children are accompanying you to Australia: Birth certificates Proof of enrollment in a school in Australia (Applicable if the child is 5 years or older and accompanying you to Australia) If you are separated or divorced Proof of divorce or separation must be provided (appropriate legal documentation) Custody of children documents If your parent(s) / dependants are deceased Death certificate to be provided
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INFORMATION FOR STUDENTS UNDER 18 YEARS OF AGE If you are below 18 years of age guardianship arrangements are mandatory. Students under 18 years of age have specific additional visa requirements: Parental permission If you are under 18 years of age, your parents and/or anyone who can legally decide where you can live must give permission for you to study in Australia. If any of these people cannot sign your student visa application on your behalf, they must sign one of the following: a statutory declaration (affidavit duly notarized) giving their permission. You must submit this declaration with your application. the consent form for children under the age of 18 years (Form 1229 - Consent form to grant an Australian visa to a child under the age of 18 years)
Accommodation and welfare arrangements If you are under 18 years of age, you must have acceptable arrangements for your accommodation, support and general welfare for the duration of your student visa or until you turn 18 (whichever happens first). You must show that you will either: live in Australia with your parent or legal custodian live in Australia with a relative over 21 years of age who is nominated by your parent or legal custodian live in Australia under a welfare arrangement that has been approved by your education provider. Welfare provided by a parent or legal custodian If your parent or legal custodian will be providing welfare for you during your stay in Australia this should be indicated on your application form. You can arrange to bring a parent or legal custodian to Australia as your carer on a Student Guardian visa. Welfare provided by a relative If a relative will be providing welfare for you during your stay in Australia your parents and/or legal custodians will need to give their permission for this arrangement on your application form and your relative must be nominated. Your nominated relative must be one of the following: brother or sister
step-parent
step-grandparent
stepbrother or stepsister
grandparent
aunt or uncle
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step-aunt or stepuncle
step-niece or stepnephew
niece or nephew
spouse
They must also: be aged over 21 years of age be eligible to remain in Australia until your visa expires or you turn 18 (whichever happens first) be of good character. You can also arrange to bring a relative to Australia as your guardian on a student guardian visa. Welfare provided by an education provider Your parents and/or legal custodians can give their permission on your application form for your accommodation, support and general welfare arrangements to be provided by your education provider. If your welfare is being approved by your education provider you will need to submit with your application a signed statement from the provider which confirms the start and end dates of these welfare arrangements. This letter is called a Confirmation of Appropriate Accommodation/Welfare Arrangements (CAAW) letter and if granted, your visa end date will correspond with the welfare dates on the letter. If your welfare arrangements are approved by your education provider you cannot travel to Australia until your welfare arrangements commence. Your welfare arrangements commence on the welfare start date that your education provider has nominated on the CAAW. Note: Education providers are not obliged to approve friends or other relatives as a homestay provider for you. A homestay provider must meet requirements to be accepted as student guardians. Change of welfare arrangements It is a requirement of your visa that appropriate welfare arrangements be maintained during your stay in Australia. If you do not maintain adequate welfare arrangements during your stay in Australia your student visa may be cancelled. If you intend to change your welfare arrangements at any time you must have written approval for this change. Depending on your circumstances, this approval must come from either your parents/legal custodian or your education provider and the department must be notified. If you are changing your welfare arrangements from education provider approved arrangements to welfare provided by a relative, you must lodge a completed form 157N – Nomination of a student guardian and submit the same to DIAC. If you do not maintain adequate welfare arrangements during your stay in Australia your student visa may be cancelled.
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FILING YOUR EVISA APPLICATION Once you are able to fulfill the requirements and provide the necessary documentary evidence, do fix an appointment with your counselor and submit all relevant documents. It is advisable for you to keep a copy of all the forms and other documents that you will submit to DIAC. You must remember at all times that DIAC is co-operative and helpful when they have reason to believe that you are a genuine student. It is your responsibility to submit all necessary documents to make their assessment of your case easier, which will in turn result in a speedy clearance. You can do that by following the guidelines we have given you. Most problems or issues have solutions which have been tried and tested and you must trust us by letting us know the truth so that we can work out a clean and honest solution - be it gaps in your work or education, low liquidity or visa rejection for other countries. So let us know about any such issues and we will work out a solution together. Effective 5th Nov 2011, a Fraud public Interest Criterion -Fraud PIC has been introduced. It means that if an applicant is discovered to have submitted fraud documents or have given misleading information will be barred for 3 years to re-apply. IMPORTANT NOTES This is a consolidation/ summary of the visa regulations and is not a substitute for the legislation. The above notes should be read in conjunction with the full text of the legislation and detailed updated information is available on the DIAC website- www.india.embassy.gov.au. IDP Education India Pvt. Ltd will offer you complete advice and assistance in processing your application and visa papers; however the final decision on your Visa application is taken by the Senior Migration Officer at DIAC. IDP at no point can guarantee the final visa outcome.
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LIST OF ACCEPTABLE FINANCIAL INSTITUTIONS (DIAC list) The Migration Regulations require that a bank must be governed by the central bank of the foreign country in which it operates, for it to be acceptable. (http://www.india.embassy.gov.au/ndli/vm_studyloans.html) Acceptable financial institutions in India: Royal Bank of Scotland NV Andhra Bank Allahabad Bank AXIS Bank Ltd Bank of Baroda Bank of India Bank of Maharashtra Bank of Punjab Ltd BNP Paribas Canara Bank Central Bank of India Centurion Bank of Punjab Ltd Citibank Corporation Bank Dena Bank Federal Bank Ltd HDFC Bank Ltd
Hongkong and Shanghai Banking Corporation IDBI Bank Ltd Indian Overseas Bank Indian Bank Ing Vysya Bank Ltd Indusind Bank Ltd ICICI Banking Jammu & Kashmir Bank Ltd Karnataka Bank Ltd Kotak Mahindra Bank NOVA Scotia Bank Oriental Bank of Commerce Punjab National Bank Punjab and Sind Bank South Indian Bank Ltd Standard Chartered Bank
Bank of Rajasthan
Barclays Bank PLC
State Bank of India State Bank of Bikaner and Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Saurashtra State Bank of Travancore Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank Yes Bank
EVERY BANK IN USA & UK IS ACCEPTABLE PROVIDED IT IS A COMMERCIAL BANK
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SAMPLE SPONSORSHIP AFFIDAVIT (For all acceptable sponsors) Affidavit must be Notarized and prepared on Rs 10/ 20 Stamp Paper (if done in India) PARENTS/ GRAND PARENTS/ SPOUSE/UNCLE/AUNTS/BROTHERS/SISTERS/ OTHERS) (ON RS. 20 STAMP PAPER) AFFIDAVIT We/I (Name of Sponsors), Residents of (Address, Contact No.) do hereby solemnly affirm and declare as under: 1. That we/I the above named deponents do hereby declare to sponsor our Son / Daughter Name of the Student for his / her trip to Australia for the course of Name of Course at the University of Name of Institution starting from_________ for a period of_________ years, we shall bear the entire financial expenses at Australia for the required duration. 2. We/ I further declare that we/I have sufficient/ partial funds to financially sponsor him /her for the requisite period. 3. We/ I further declare that we/I are aware that our daughter/son is taking an Educational loan from a (financial institution) / is being sponsored by his/her grandparents. DEPONENTS Sign Date VERIFICATIONS: Verified at _______ on this_________ day of_________ . The Contents of the above Affidavit is true and correct to the best of my knowledge and belief and nothing has been concealed there from. (STAMP- NOTARY) P.S: UNCLE/ AUNTS SHOULD MENTION CLEARLY THE REASON FOR THEIR SPONSORSHIP + CLAIM THAT THEY HAVE ENOUGH FUNDS TO BEAR THEIR OWN/ FAMILY UNIT EXPENSES EVEN AFTER PROVIDING THE SPONSORSHIP/ SUPPORT TO THE STUDENT.
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SAMPLE AFFIDAVIT – DIFFERENCE IN NAME
Affidavit must be Notarized and prepared on Rs 10 Stamp Paper (if done in India) I, Mr. ______, an adult, Indian Inhabitant of Bangalore, residing at (Postal address and contact details), do hereby state and declare on solemn affirmation as under: I say that my name ______(if in passport then mention the passport no, issuance date and place) has been recorded as ______. My name in all my ______ is _________. The suffix (Kumar/Bhai) as it appears in my passport has not been entered on my academics. This is the only difference in my name on my documents. I say that the names i.e. _______ and _______, belongs to one and the same person i.e. myself. That the purpose of making this affidavit is to produce the same before DIAC so as to establish the names i.e. ______ and ______, belongs to one and the same person, as the same is required for issue of Student‟s Visa. Whatever has been stated herein above is true and correct to the best of my knowledge and belief. Deponent (Name and Signature of Sponsor) VERIFICATIONS: Verified in Bangalore on DD / MM / YYYY. The contents of the Affidavit are true and correct to the best of my knowledge and belief and nothing has been concealed therefrom. Deponent (Name and Signature of Sponsor)
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SAMPLE OF CA STATEMENT OF FINANCIAL ASSETS & LIABILITIES OF SPONSOR Statement of Assets and Liabilities of (SPONSOR’S NAME) AS OF DD / MM / YYYY PARTICULARS
Salary income Business income Income from other sources Income from rent Income from pension
AMOUNT (Rs.)
00 00 00 00 00 Agricultural income
00
TOTAL (Per annum)
00
ACCEPTABLE FUNDS (Acceptable to DIAC as Liquid Assets): Saving bank balance Fixed deposits Post office deposits Monthly Income Scheme NSS Public Provident Fund EPF / GPF / PF
00 00 00 00 00 00 00
NON- ACCEPTABLE FUNDS: National Saving Certificates Kisan Vikas Patra LIC policies (surrender value) Shares and debentures (face value) UTI
00 00 00 00 00
IMMOVABLE ASSETS: Property Land / Plot
FACE VALUE 00 00
LIABILITIES (IF ANY) Loan / Overdraft
MARKET VALUE 00 00 00
Note: Photocopies of the above documents must be attached in this above order, duly attested by the CA
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SAMPLE PROVIDENT FUND LETTER
On Provident Fund Disbursing Authority’s Official Letterhead Complete contact details of Signing Authority required (Name, Designation, Address, Contact numbers during business hours)
This is to certify that __________ (name) has been working in __________ organization since __________ (date). He / She maintains his / her provident fund account with us since ________ (date). The balance in his / her provident fund as on ________ (date) is Rs. _________________ As per the existing rules and regulations he / she is eligible to permanently withdraw / make a nonrefundable withdrawal of Rs. __________ for the purpose of higher education of his / her child __________ (name of student)
Points to Note:
Letter must be on the Provident Fund Disbursing authority on official letter head Name of employee (parent) must be clearly mentioned EPF / GPF / CPF is acceptable only from parents of the applicant The purpose of higher education must be clearly mentioned The student‟s name must be clearly mentioned The withdrawal must be specifically non-refundable or permanent, and this must be stated in the letter The name and contact details of the signing authority must be clearly mentioned
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SAMPLE BANK LOAN SANCTION LETTER (TO BE PRINTED ON THE BANK LETTERHEAD WITH COMPLETE CONTACT DETAILS)
Ref: Date: Mr / Ms (STUDENT NAME) Address (STUDENT ADDRESS) Subject: Education Loan: Limit Rs. ____________ lakhs Dear Sir / Madam, This has reference to your application for sanction of Education Loan of Rs. ____________ lakhs. Considering the value of connection, we are pleased to sanction an Educational Loan of Rs. ____________ lakhs on the following terms and conditions. 1. Limit
: Rs. ___________
2. Margin : Rs. ___________ (The loan letter must specify whether the margin money is included or not included in the amount sanctioned) 3. Purpose : For pursuing the (COURSE NAME) program 4. Collateral Security : a) (NAME OF SECURITY) in the name of Mr. / Ms. (NAME OF SECURITY HOLDER) together with his / her relationship to the student) b) Personal guarantee of Mr. / Ms. (NAME OF GUARANTOR together with his / her relationship to the student) 5. Rate of Interest
: ____________ per annum.
6. Disbursement
:
7. Repayment : (No. of Installments) Equated Monthly installments of Rs. ___________ each after the end of the moratorium period. Terms of repayment (repayment period / holiday period) 8. Documentation
: To be executed by both jointly
9. Documentation charges: To be borne by the applicant 10. Other : The Loan of Rs _____________ has been fully sanctioned and all terms and conditions are completed except disbursement. (Please note this point is very important and has to be mentioned on the bank loan sanction letter) Yours faithfully, Bank Manager (FULL NAME and CONTACT DETAILS)
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IMPORTANT POINTS TO BE CONSIDERED with reference to a Bank Loan The above letter is only a sample; your individual bank may vary the terms and conditions as per their norms. The sample letter is indicative of all the points that must be included in the Loan sanction letter. Submit an attested copy of the asset given as collateral / security for the bank loan The Loan letter should address the student and a complete sanction letter is required not just a certificate stating that the loan is sanctioned or is sanctioned “in principle” The visiting card of the loan sanctioning authority of the bank is required for verification purposes by DIAC. Regarding loan sanctioned amount considered by the DIAC – the sanctioned amount excludes the margin money. For example if the loan sanctioned is of Rs. 10,00,000 with a margin of 20% then DIAC will only consider the loan amount of Rs 8,00,000(Rs. 10,00,000 less 20%) For the security the letter should mention the specifics of the security. Details of all security kept, like F.D of Mr. X of Rs. 2,00,000 and KVP of Mr. X worth Rs.5,00,000 etc All security / collateral holders to the bank loan become sponsors and thus have to submit their sponsorship affidavit, current dated statement of assets and liabilities and pro of of income. Repayment should cover the number of installments in which the loan is to be paid back (EMI) with the amount of EMI to be paid. In case of a personal loan the sanction letter should clearly state that the loan could be used for the purpose of education of the student, with student‟s name mentioned clearly If you have availed two bank loans from two different banks eg SBI and Dena Bank each bank should give a letter clearly stating that they are aware of the other bank loan. Payment of the first semester tuition fees must be made from the bank loan and a loan disbursement letter must be submitted at the time of visa application. Please ensure that the bank loan is not cancelled at any point in time. DIAC could conduct random check s with the bank. Source of funds is also applicable on assets kept as collateral. While the bank has investigated an individual‟s capacity to repay the loan, DIAC requires financial documentation to satisfy the ove rall consistency of the sponsor's financial circumstances. The repayment capacity of your parents / other acceptable sponsor must be demonstrated by attaching evidence of income and other assets. DIAC assesses if the family shows sufficient capacity to repay the loan. They do not take into consideration prospective returns upon the student‟s subsequent graduation and employment. For the purpose of loan disbursement, the student will provide the ECOE with the High commission letter informing of the changes in rules from 5 th Nov 2011 of discontinuance of the pre- visa process & Pre Visa letter.
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SAMPLE OVERDRAFT FACILITY LETTER (TO BE PRINTED ON THE BANK LETTERHEAD WITH COMPLETE CONTACT DETAILS)
This is to certify that we have set up an Overdraft Facility for ____________ against his fixed deposit account No. _______________, with a limit of Rs. ____________, against _____________ worth Rs. ______________ and against _________ worth Rs. ___________. The Overdraft Facility can be utilized for the purpose of payment of Educational Fees of ________________ (Student Name) in Australia. The bank has no objection in paying the first term fee from the overdraft facility if asked by Mr. _____________ (Sponsor name) to the University. Since Mr.______________ (Sponsor Name) has availed overdraft facility, he can repay the amount any time. This certificate has been issued at the specific request of the client. Yours faithfully, Bank Manager (FULL NAME) Note: Submit an attested copy of the asset given as collateral / security for the overdraft facility together with the appropriate source of funds as applicable.
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SAMPLE BANK LOAN / OD DISBURSEMENT LETTER (TO BE PRINTED ON THE BANK LETTERHEAD WITH COMPLETE CONTACT DETAILS) To The Visa Officer DIAC Dear Sir / Madam, This is to confirm that Demand Draft Number __________ dated _________ in favour of (Name in which the Demand Draft has been made) for A$ ____ on _____________ bank, Australia was issued towards the expenses of (Student name) and disbursed out of the Education Loan sanctioned for him / her to pursue the (Course Name) at (University Name). Thanking you, Yours faithfully, (Name of Bank Manager / Loan Officer)
Please remember to submit the following documents with the disbursement letter Original Bank Draft Original Institution Acceptance Form duly filled and signed Original Refund Policy Form duly signed (if applicable)
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