Yes. The Subclass 500 visa allows multiple entries so you can leave and re-enter Australia while your visa is valid, provided you abide by visa conditions.

If your visa will expire before you graduate, or if you want to undertake further studies, you should apply for a new Student Visa in good time—your education provider must issue documentation confirming your ongoing or completed study. Alternatively, you may be eligible for Subclass 485 depending on your finishing date and course.

The base fee for a Student Visa application is AUD 1,600 for the main applicant. Family members included in the same application will incur additional fees.