When your child applies for a student visa, one of the most critical requirements your family will face is proving you have the financial means to support them throughout their studies. Getting this wrong is one of the most common reasons strong visa applications are refused at the final hurdle.
This guide explains what proof of funds means, what's required in each major destination, and the mistakes families most commonly make. For a full breakdown of what studying abroad actually costs, see our companion guide: How to Build an International Student Budget.
Disclaimer: Proof of funds requirements may be reviewed annually. Always verify current figures with the official immigration authority before lodging an application.
What Is Proof of Funds?
It's documentary evidence that your family has sufficient funds to cover your child's living expenses throughout their studies — without them relying on government support or exceeding their permitted work hours. Every major study destination requires it, and the amounts, documents accepted, and mechanics of how funds must be held differ significantly between countries.
It is vital to remember that government thresholds are a legal baseline, not a lifestyle guide. While meeting the minimum requirement is necessary for your visa, a realistic 2026 budget should account for an additional buffer to handle the true cost of living in major student hubs.
Requirements by Destination
Amount required (from 11 November 2025):
- London: £1,529/month × up to 9 months = £13,761
- Outside London: £1,171/month × up to 9 months = £10,539
- Plus: any outstanding tuition fees shown on your child's CAS
The 28-Day Rule: The required funds must be held continuously in a regulated bank account for 28 consecutive days, ending no more than 31 days before the application is submitted. The balance must not drop below the threshold for even a single day. One dip — from a bill payment, a transfer between accounts, or a small withdrawal — can result in refusal even if the overall financial picture is strong.
Plan 6–8 weeks ahead: Identify the account you'll use, and do not touch it during the qualifying window. You can use your own account as a parent. You'll need to provide your statements, your child's birth certificate, and a signed letter confirming you're providing the support.
Not accepted: shares, pension funds, credit card limits, crypto, property equity, or anything that cannot be immediately accessed in cash.
Amount required (from 1 September 2025):
- Single student: CAD $22,895 (plus tuition and travel — these are separate)
- Reviewed annually — verify the current figure before applying
How to demonstrate it: Canada accepts bank statements, scholarship letters, and education loans — but the most trusted option is a Guaranteed Investment Certificate (GIC) from a participating Canadian bank. As a parent, you transfer the required amount to the Canadian bank before the application is submitted. The bank holds the funds and issues a confirmation certificate. After your child arrives, the money is released in monthly instalments.
A GIC alone isn't enough — you must also separately provide proof of first-year tuition and return travel costs.
Watch out for: large deposits made shortly before the application date without a clear paper trail. IRCC looks for stable, accumulated savings rather than funds assembled specifically for the visa.
Amount required (2026):
- Single student: AUD $29,710/year (plus tuition and travel)
Australia assesses proof of funds as part of the broader Genuine Student (GS) requirement. There's no fixed holding period like the UK's 28-day rule, but officers look for stable, consistent access to funds over time — not a single large deposit made just before the application.
OSHC: Overseas Student Health Cover is mandatory and must be purchased before the visa is granted. It costs AUD $620–$850/year for a single student and is typically paid as a lump sum upfront for the full course duration.
Source: Department of Home Affairs — Student Visa (Subclass 500)
Amount required (2025/2026): €11,904/year (€992/month)
Germany requires a Sperrkonto (blocked account) — here's how it works:
- Your child opens a blocked account online with an approved provider (Expatrio, Fintiba, or Coracle). Setup fees range from €49–€150.
- Your family transfers at least €11,904 to the account. Always send slightly more than the minimum to cover any intermediary bank fees.
- The provider issues a confirmation certificate — this is what goes into the visa application.
- After arrival, your child opens a local German bank account. €992/month is then automatically transferred to it each month.
Open the blocked account as soon as your child receives their university admission letter. If the visa is refused, your funds are returned in full minus provider fees.
The €992/month covers living costs only — it does not include mandatory health insurance (approx. €140–€150/month for students under 30), which must be budgeted separately.
Amount required:
- Visa-required nationals: €10,000 per year (in addition to course fees), plus the same amount for each subsequent year
- Courses under 8 months: €833/month or €6,665 total (whichever is less)
- Non-visa required nationals: €10,000 demonstrably available on arrival (courses over 8 months)
Private health insurance is mandatory for non-EEA students: typically €160–€670/year.
The US has no single national figure. Each institution sets its own estimated cost of attendance on the I-20 form — your family must demonstrate you can meet that specific figure.
Evidence typically includes your bank statements, scholarship letters, or a formal sponsorship letter from you as a parent.
Additional costs to plan for: SEVIS fee (USD $350) and visa application fee (USD $185) — both non-refundable — plus mandatory university health insurance of USD $1,200–$4,000/year.
What's Accepted — and What Isn't
The Most Common Mistakes Parents Make
Allowing the balance to dip (UK): A single day below the threshold during the 28-day window results in refusal. Set up the account well in advance and leave it untouched.
Large unexplained deposits (Canada, Australia): A sudden lump sum shortly before the application raises red flags. IRCC and Australian visa officers want to see consistent, stable savings with a clear paper trail.
Confusing living costs with total costs: The threshold covers living expenses only. Tuition must be demonstrated separately on top of it.
Missing documents when using your account: If you're using your own bank account, you must also provide your child's birth certificate and a signed letter from you confirming your support. Omitting these is a common and avoidable cause of refusal.
When to Start Preparing
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Last updated April 2026. Always verify current requirements with the official authority for your child's destination: UK | Canada | Australia | Germany | Ireland