Alternative Financing Options for International Students in Australia
Share this blog
In this article
- Cost of Studying in Australia for International Students
- Scholarships and Grants to Study in Australia
- Education Loan Options for International Students in Australia
- University Payment Plans for International Students in Australia
- Private Education Loans for International Students in Australia
- Conclusion: Balancing Your Budget as An International Student in Australia
- Frequently Asked Questions
Global opportunities and a unique cultural immersion are key benefits of studying in Australia. From world-class universities to small and affordable colleges, Australia never disappoints in serving international students with the best education.
The challenge of financing their studies is real for international students from middle-class or poor-income backgrounds. While education loans help many of them, other funding alternatives are financial saviours for international students in Australia.
From part-time work to scholarships and university payment plans, alternative financing options for international students in Australia must be uncovered – and that’s what we do in this blog!
Find Your Best Education Loan!
Cost of Studying in Australia for International Students
The cost of studying in Australia varies depending on your course, university, and city of residence. For example, the tuition fee for an MBA or MS is higher than for humanities courses. The major expenses in Australia are tuition fees, other academic fees, lab fees, library fees, transportation charges, rent, food, utilities, etc.
| Degree Level | Average Tuition Fee |
| Undergraduate | AUD 20,000 – AUD 57,000 |
| Postgraduate | AUD 25,000 – AUD 58,000 |
| Doctoral | AUD 20,000 – AUD 58,000 |
| VET (Vocational Courses) | AUD 7,000 – AUD 30,000 |
Scholarships and Grants to Study in Australia
Scholarships and grants are your top financial options in Australia. They can fund up to 100% of your educational and living expenses. The amount of scholarships and grants varies for each program, depending on the study expenses and the number of scholarship openings available each year.
Government Scholarships and Grants
The Australian government encourages international students to study in their tertiary education institutions and contribute to the cultural growth of Australia. Government-funded scholarships are available in most Australian universities.
Government funds or grants cover full or partial tuition fees to partial or complete coverage of your living expenses.
| Scholarship | Amount/ Benefit | Eligibility |
| Australia Awards Scholarships | Full tuition fees, living expenses, travel costs, health insurance, and research support. | Be a citizen of one of the eligible countries. |
| Destination Australia Scholarships | AUD 15,000 per year for tuition and living expenses. | The university of admission must participate in the scholarship program. |
| Research Training Program (RTP) Scholarships | Tuition fees and living expenses (AUD 33,511 – AUD 52,352) | Research master’s or research doctorate |
Private Scholarships
Private scholarships aim to nurture leadership, social responsibility, and empowerment. They are offered mainly based on extracurricular achievements and financial requirements. International students can apply for these scholarships through universities or privately.
| Scholarship | Amount/ Benefits | Eligibility |
| Rotary Peace Fellowships | Full tuition, accommodation, and travel | Show leadership in peace studies |
| International Water Centre Scholarships | Tuition and living stipend | Enroll into a water & environmental studies program |
| John Monash Scholarships | Up to AUD 100,000 per year | Show leadership and research potential |
University Scholarships and Grants
Australian universities offer merit-based scholarships to international students. The scholarships cover full or partial tuition fees and contribute to living expenses. The primary criterion for university-funded scholarships in Australia is academic excellence.
| Scholarship | Amount/ Benefits | Eligibility |
| Macquarie University Vice-Chancellor’s Scholarship | Up to AUD 10,000 for tuition fees | Be a top achiever |
| Melbourne International Scholarships | Full or partial tuition, living allowance | Have top academic merit |
| University of Sydney International Scholarships | Up to AUD 40,000 for tuition | Academic excellence |
| Monash International Merit Scholarship | Up to AUD 50,000 over five years | Academic excellence |
Education Loan Options for International Students in Australia
Education loans are popular financing options for international students in Australia. Repayment of the education loan starts only after completing the course years. Depending on the availability of collateral or a cosigner, international students can apply for secured (with collateral) or unsecured (without collateral) education loans.
| Lender Type | Maximum Loan Amount | Interest Rate | Margin Money | Repayment Period |
| Public banks – SBI, BoB, UBI | Up to INR 80 Lakhs – INR 1.5 Cr | 9.65% for girls, 10.15% for boys | 10% | 10 – 12 years |
| Private banks – ICICI, Axis, IDFC FIRST | Up to INR 50 Lakhs | 10% – 13.5% | 0% – 15% | 10 – 20 years |
| NBFCs – Credila, Avanse, Auxilo, InCred | Up to 2INR 20 Lakhs | 12% – 13.5% | 0% | 10 – 15 years |
| International lenders – MPOWER Financing, Prodigy Finance | Up to 100,000 USD | 8.39% – 14% | 0% | 10 – 20 years |
University Payment Plans for International Students in Australia
University payment plans are installment plans for tuition fees provided by Australian universities to assist international students in financing their education expenses.
Rather than simultaneously paying the entire tuition fee, students can spread their payments into several installments throughout the semester or academic year.
Here are the payment plan details offered by top universities in Australia:
| University | Payment Plan |
| Australian National University | Allows deferred and installment payments. |
| Monash University | Offers an installment plan for tuition and course fees. |
| University of Melbourne | Flexible semester-based payment schedules. |
| University of Sydney | Allows students to split tuition into 2 – 4 installments. |
| University of Queensland | Structured payment plans with set due dates. |
| Curtin University | Offers flexible installment plans for international students. |
| University of New South Wales (UNSW) | Provides options for staggered fee payments. |
Private Education Loans for International Students in Australia
Private education loans in Australia are offered to international students with simple and fast documentation. The primary eligibility criteria include admission to a recognized university in Australia and to a program listed by the lender.
| Sample Lender | Loan Amount | Eligibility |
| MPOWER Financing | Up to AUD 100,000 | Get admission to a university listed by MPOWER |
| Prodigy Finance | Covers up to 100% of tuition | Choose an eligible course listed by Prodigy |
| Ascent | Up to AUD 400,000 | Academic excellence & future earning potential |
| Stilt | Up to AUD 50,000 | Have a valid student visa and admission letter |
| Australian Banks (NZ, Commonwealth Bank, Westpac, etc.) | Up to 70% – 100% of the expenses | Have an Australian citizen as the cosigner |
Conclusion: Balancing Your Budget as An International Student in Australia
Apart from the alternative funding options, you can work up to 20 hours a week part-time. Earning AUD 13 – 20 per hour is a top way to contribute towards your living costs.
Pursuing an Australian education is a unique experience, but navigating the money issues can be daunting. The best part? You have plenty of choices! There’s a financial plan for you, from government and private scholarships to university payment plans and private student loans.
So, what’s your next move? Begin by looking into scholarships offered, seeing if your university has payment plans, or investigating private loans. Nomad Credit can match you up with the optimal education loan options and offer you financial guidance at no cost! Contact us today and take the first step towards financing your Australian education.
Frequently Asked Questions
Can international students get financial help in Australia?
In Australia, international students have many financial options, such as private student loans, scholarships and grants, university payment plans, and education loans.
What options do international students have to help finance their studies?
Private student loans, scholarships and grants, university payment plans, and education loans are the options for international students to help with their education in Australia. Part-time work is a great way to finance their day-to-day expenses.
How much does part-time work pay in Australia?
On average, international students can get AUD 13 – 20 per hour from part-time jobs in Australia. The maximum allowed time for part-time work is 20 hours a week.
How do you apply for university-funded scholarships in Australia?
Visit your university website and check for scholarship openings. Check eligibility and apply online. Connecting with the staff responsible for your department will help.
Is there an interview round for scholarships in Australia?
Many scholarships in Australia are offered after interviewing the applicant. The interview round will assess why the student requires the scholarship, the student’s aspirations, and career goals.
Adwaidh
Updated on September 5, 2025
Thinking About Studying Abroad?
Get Free Consultation for Study Abroad Loan & Admissions.
Explore your journey to studying abroad with valuable admission guidance and financing options. Plan your dream education journey today with Nomad Credit!
