Important changes to the student visa program from 1 July 2016.
Student visa living costs and evidence of funds
International students are required to demonstrate and/or declare that they have genuine access to sufficient funds to be granted a Student visa. Applicants may have to demonstrate sufficient funds to cover these expenses for the first one or two years in Australia, depending on their assessment level.
For more information, please refer to https://www.border.gov.au/Trav/Stud/changes-student-visa