The Australian education system offers primary, secondary, and tertiary education linked across the country and across the world. This makes it easy to move throughout the education system that will contribute to your future regardless of your study or career goals.

It is no wonder that many students across the globe choose to study in Australia to obtain the quality of education provided by the Australian education system. However, it is common knowledge that international education can cost a lot, on top of other expenses. 

If education expenses are one of your worries, we’ve got you covered with this comprehensive guide on where to get financial support as an international student in Australia.

International student loan

Higher Education Loan Program (HELP) is an initiative of the Australian government that offers financial assistance to students so they can fund their education. While international students are not eligible for HELP, universities and private banks also offer student loans.

You need to be wise and maximize your time in evaluating your financial needs before applying for a loan because there are other expenses that you need to cover such as boarding, housing, insurance, and general living expenses.

Eligibility criteria for university loans and private banks

Here are the requirements that you need to meet for you to get a university loan:

Meanwhile, here are the criteria for getting student loans from private banks:

Types of student loans that you can apply for

Some of the loans you can obtain in Australia to pay for your tuition fees include short-term or emergency loans, secured personal loans, unsecured loans, long-term or general-purpose loans, medical student loans, car loans, and payday loans.

On one hand, the top two private student loans offered by banks in Australia are Westpac Unsecured Personal Loan and ANZ Fixed Rate Personal Loan.

Finally, if you have doubts about the details about obtaining or repaying a student loan in Australia, you may want to consult your financial advisor, a university faculty member, or former students who had taken a loan.

Australia is one of the world’s most popular study destinations for international students. Look through our articles here at MSM Unify for more helpful tips to get financial assistance as an international student. 

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