Alternative Financing Options for International Students in Australia
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Global opportunities and a unique cultural immersion are key benefits of studying in Australia. From world-class universities to affordable colleges, Australia continues to attract international students with quality education and strong career opportunities. Over 1.2 lakh Indian students choose Australia every year for higher education.
However, with annual study and living costs ranging from AUD 35,000-75,000, financing education can be challenging for many Indian families. While abroad education loans support many students, scholarships, part-time work, and university payment plans also play a major role in managing expenses.
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!
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Financing Study in Australia – Quick Overview (2026)
- Tuition Range: AUD 20,000-58,000 per year
- Top Fully Funded Scholarship: Australia Awards Scholarship
- Best No-Collateral Loan Options: Leap Finance, MPOWER Financing, Prodigy Finance
- Indian Bank Education Loans: SBI abroad student loans from 9.65% with funding up to INR 3 Cr
- University Payment Plans: Available at ANU, University of Sydney, Monash University, UNSW, and more
- Part-Time Work Allowed: Yes – up to 48 hours per fortnight on Student Visa (Subclass 500)
- 2026 Student Work Update: International students may work unlimited hours in select high-demand sectors based on current Australian government policies
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/Benefits | Eligibility |
| Australia Awards Scholarships | Full tuition fees, living expenses, travel costs, health insurance, and research support. | Open to eligible countries including India |
| Destination Australia Scholarships | AUD 15,000 per year for tuition and living expenses. | Available for students studying at eligible regional Australian universities |
| Research Training Program (RTP) Scholarships | 100% tuition coverage + stipend from AUD 37,000/year | 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 yearly (up to AUD 300,000 for PhD programmes) | 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 |
Australia Awards Scholarships are open to Indian students and cover full tuition fees, living expenses, return airfare, establishment allowance, and Overseas Student Health Cover (OSHC) for the full duration of study in Australia.
For Indian applicants, applications typically open between February and March each year. Priority study areas include agriculture, infrastructure, water management, governance, and public policy. Learn more on the official Australia Awards India portal.
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 overseas education loans.
| Lender Type | Maximum Loan Amount | Interest Rate | Repayment Period |
| Public banks – SBI, BoB, UBI | Up to INR 80 Lakhs – INR 3 Cr | 9.65% for girls, 10.15% for boys | 10 – 12 years |
| Private banks – ICICI, Axis, IDFC FIRST | Up to INR 50 Lakhs | 10% – 13.5% | 10 – 20 years |
| NBFCs – Credila, Avanse, Auxilo, InCred | Up to INR 20 Lakhs | 12% – 13.5% | 10 – 15 years |
| Leap Finance (No collateral lender) | Up to 100,000 USD | 8.45% – 11.95% | 10 – 15 years |
| International lenders – MPOWER Financing, Prodigy Finance | Up to 100,000 USD | 8.39% – 14% | 10 – 20 years |
Part-Time Work as a Financing Option in Australia
International students in Australia often use part-time work to manage living expenses while studying. Under the Australian Student Visa (Subclass 500), students can work up to 48 hours per fortnight during academic sessions and unlimited hours during scheduled semester breaks.
Since 2023, Australia has temporarily removed work-hour caps for international students employed in selected sectors such as healthcare, aged care, agriculture, and tourism.
The average part-time wage in Australia ranges from AUD 25-30 per hour, which is significantly above the national minimum wage of AUD 23.23 per hour. By working 15-20 hours weekly, many international students can cover approximately AUD 1,500-2,500 per month in living expenses.
Popular part-time job sectors for Indian students in Australia include:
- Hospitality
- Retail
- Tutoring
- Customer service
- IT support
- Delivery services
- Administration
Note: Students should always verify the latest work rights and restrictions through the Australian Department of Home Affairs.
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 | Instalment Details | Application Required? |
| Australian National University | Deferred and instalment payments available | Yes – request through finance office |
| Monash University | 2 instalments per semester for tuition fees | No – available to eligible international students |
| University of Melbourne | Flexible semester-based payment schedules | Yes – approval may be required |
| University of Sydney | 2-4 instalments per semester | No – selected during enrolment |
| University of Queensland | Structured payment plans with due dates | Yes – apply before semester begins |
| Curtin University | Flexible instalment plans for international students | Yes – request required |
| University of New South Wales (UNSW) | Staggered fee payment in 3 tranches | Yes – apply through student portal |
Note: Most Australian universities charge semester fees upfront but offer instalment plans on request. Students should contact the university finance office before semester commencement, as payment plans are usually not automatic.
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 Indian students get education loans for Australia without collateral?
Yes. Indian students can explore no-collateral loan options from Leap Finance, MPOWER Financing, and Prodigy Finance for eligible Australian universities.
How many hours can international students work in Australia?
Student Visa Subclass 500 holders can work up to 48 hours per fortnight during study periods and unlimited hours during scheduled course breaks.
What is the Australia Awards deadline for Indian applicants?
Australia Awards applications for Indian students usually open around February and close around April. Always check the official Australia Awards India website for current dates.
Does SBI give education loans for studying in Australia?
Yes. SBI Global Ed-Vantage supports overseas education, including Australian universities, with loans up to INR 3 Cr and collateral-free funding up to INR 50 lakh for select institutions.
What are the best financing options for Indian students in Australia?
Top options include scholarships, Indian bank loans, no-collateral international lenders, university payment plans, and part-time work during studies.
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