Study Abroad Loans: Education Loan to Cover Cost of Studying in Australia in 2023-24

Study Abroad Loans Education Loan to Cover Cost of Studying in Australia in 2023-2024
Home » News Updates » Study Abroad Loans: Education Loan to Cover Cost of Studying in Australia in 2023-24

Private and public banks in India offer education loan to cover cost of studying in Australia. A study in Australia student can either avail of an education loan with or without collateral. These loans are available at the State Bank of India and Union Bank of India

If a student fails to avail of loans from these nationalised banks, they can apply at Axis Bank, IDFC First Bank, and ICICI Bank. Other options include NBFCs like Auxilo, HDFC Credila, Incred, and Avanse. Furthermore, students can also apply for study in Australia education loans from international lenders like Prodigy Finance and MPOWER Financing.

All these lenders provide different types of loans to cover tuition fees, caution deposits, and travel expenses. In addition, these loans also cover accommodation expenses, the cost of study tours, prices of books, stationery, and laptop, and project work expenditures. 

To get education loans for studying in Australia, an applicant must be at least 18 years of age. The maximum age limit for a student loan depends on the lenders. Furthermore, a student must have an acceptance letter from a recognised university in Australia. Additionally, the candidate must have stellar academic records and display strong earning potential for unsecured loans.

Cost of Studying in Australia

As higher studies in the land of Kangaroos is an expensive deal, an overseas student often opts for an education loan to cover cost of studying in Australia. Before applying for a loan, one must learn about the average cost of tuition fees for different programmes in this nation. 

Cost of Studying in Australia

Cost of Living in Australia

In addition, an international student must also have an idea about the average expenses of different essentials in Australia. Therefore, it is important to know these details before applying for loans to study abroad in 2023-24. Here is an estimated cost of living in Australia:

Cost of Living in Australia

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