You need to satisfy the following criteria to be able to obtain a student visa, subclass 500.
These are important but not all the requirements that need to be met in order to obtain a student visa. The main item is the “genuine temporary entrant” criterion. More information is available in the Department of Home Affairs website in case this link is unavailable for any reason.
In simple words, you need to satisfy the case officer of the Department that you have enough financial resources to cover all your expenses for your period of studies. The money that you are relying on should be genuinely available to you.
On average, it takes less than 2 months from the point of lodgement to receive the visa. You can always check the Department website for the approximate processing time of student visa applications. Please click here to have a look or refer to the Department website if the link is not available.