Scholarships and Loans in Australia for International Students

    Australia, a popular study abroad destination, is home to over six universities ranked among top 100 universities worldwide by QS WUR 2021, enrolling around 700,000 international students from all over the world. Every year, thousands of students flock overseas to pursue higher education in Australia, attracted by the serene environment, diverse culture, exclusive study areas and multitude of job opportunities available.

    The cost of living in Australia including tuition, room and board, transportation, food, clothing, entertainment, and other living expenses can be a downside for international students aspiring to study in Australia. Tuition fees for international students will vary between AUD 30,000- 40,000 a year depending on the chosen university and course. Students will also need to consider visa processing fees and the application fees charged by some universities.

    To ease the finances for international students, Australian government, various public and private establishments and education providers offer a wide range of scholarships, grants, and bursaries. Some scholarships are based on academic merit while others are based on factors such as the home country of the student, chosen subject and financial circumstances.

    Students studying in Australia also have various other options to finance their tuition fees and living costs including family funding and support, student loans or working up to 40 hours per fortnight, holding a valid Australian student visa. Some of the sources through which international students can apply for student loans include Universities and Private Banks.

    How to Apply for Scholarships to Study in Australia?

    Eligibility Criteria to apply for popular scholarships to study in Australia include:

    • Good academic score
    • Chosen subject and level of education
    • Extracurricular activities and volunteering
    • Social work and awareness
    • Essay or other written compositions
    • Scores of an English language proficiency test and other exams to study in Australia.

    Note: Eligibility, generally depends on the type of scholarship, student is applying for.

    Students can find suitable scholarships through the university, local organisations and companies or by contacting an industry expert. International students, after checking the eligibility of scholarships, can contact the administrator of that award for application procedure.

    Scholarships in Australia for International Students

    Scholarships in Australia generally provide 15%-25% of fee remission for international students. Students are advised to submit applications well ahead in time as getting a scholarship is competitive. There are various types of scholarships available for international students in Australia including, Australian Government Scholarships and Australian University Scholarships.

    Australian Government Scholarships

    Scholarship Eligibility Criteria Benefits Application Portal
    Australia Awards Scholarship Citizens from Asia, Pacific, Middle East and Africa. Full tuition fees;
    Contribution to Living Expenses.
    Australian Government Research Training Program Students pursuing Masters or Research Program Payment for Higher Degree Research Student
    Stipend to pay for living expenses.
    Destination Australia Program Students enrolled in Certification IV level and above Funding of AUD 15,000 per year

    Australian University Scholarships

    University Scholarships Description
    University of Adelaide Eynesbury College International Scholarship 5% or 10% fee reduction.
    Global Academic Excellence Scholarship (International) 50% reduction in fee.
    Monash University Monash International Merit Scholarship Scholarship worth upto 50,000 AUD.
    Monash Accounting Honours Scholarship Scholarships worth upto 6000 AUD per year.
    Deakin University Deakin International Scholarship 25% fee reduction.
    Deakin Vice-chancellor's Meritorious Scholarship 100% tuition fee waiver.
    University of Melbourne Melbourne Graduate Scholarships 25%- 100% fee remission.
    Melbourne Graduate Research Scholarships 100% fee remission, worth up to 110,000 AUD
    Federation University 2021 International Excellence Scholarship 12% fee reduction per semester.
    Foundation Scholarships Foundation Scholarships with various Values

    Education Loans for International Students in Australia

    Most scholarships available in Australia only offer tuition fee discount, based on merit and need of the international students. Thus students, planning to study abroad, are advised to apply for various education loans for supporting other finances including, but not limited to accommodation rent, food, electricity bills and transportation cost. Some types of education loans in Australia available for international students are mentioned below.

    Short-term or Emergency Loans

    Australian universities offer interest-free emergency loans to students who are facing immediate financial issues. Students have to repay the loan by decided deadlines, failure in doing so will lead to an interest rate of 2.5%. All full-time students at an Australian university are eligible for this loan worth upto 1500 AUD cash, without any guarantor.

    Secured Personal Loan

    For getting a secured loan, students need to deposit any asset at the bank as guarantee. Interest rates can vary and are usually low for secured loans. If a candidate fails to repay the loan, the asset will belong to the bank.

    Note: Unsecured loans have high interest rates and do not require deposition of any asset or collateral.

    Long-term or General Purpose Loan

    Students can borrow a larger amount up to AUD 4000-8,000 as general purpose loan from the university. Banks offering long-term loans can provide even higher amounts than universities. The amount can be used for living expenses, transportation, accommodation, etc.

    Note: Universities provide interest-free loans, but banks charge interest rates for education loans.

    Medical Student Loan

    Students pursuing a medical degree in Australia can get a medical loan, after fulfilling the qualification criteria.

    Education Loan for Australia: Eligibility Criteria

    International students need to submit below mentioned documents and fulfill the criteria to apply for loans at Australian Universities and Private Banks.

    Student Loans from Australian Universities

    Students need to fulfill following criteria to be eligible for education loans provided by Australian Universities:

    • Australian Visa.
    • Enrolled as a full-time student at the university.
    • Strong academic record.
    • Candidates must have a part-time or full-time job in Australia.
    • All previous dues should be cleared before applying to Australian Universities for the loan.
    • Applicants must complete the course in time.

    Student Loans from Private Banks

    Students need to fulfill following criteria to be eligible for education loans provided by private banks in Australia:

    • Australian Visa.
    • Candidates must reside in Australia.
    • Applicants need to have an account in a private bank of Australia.
    • Students need to have a regular source of income apart from monthly allowance.
    • Candidates must submit any collateral documents at the bank.

    Education Loan for Australia: Points to Remember

    Students need to take note of below mentioned points before applying for education loans for Australia:

    • Education loans must cover medical insurance (OSHC Australia) expenses.
    • Education loan should be scholarship adjustable i.e. can be repaid by scholarship amount.
    • Conditions for loan when student gets a PR-Visa in Australia
    • Interest rates and Loan Subsidy norms for Overseas Education

    Australia is one of the most popular study abroad locations for international students, as various funding options are available to ease the cost of living in Australia and other expenses. Scholarships for international students in Australia are offered through Commonwealth Programs and Government Schemes, removing the doubts for any scams or false promises. Admission process for universities and scholarships in Australia are mostly similar, hence students can simultaneously apply for both. Some scholarships like Dr. Abdul Kalam Postgraduate Scholarship, available for Indian students, covers up to 50% of tuition fees encouraging them to chase their dream of studying in Australia. To cover any remaining fees and expenses students can apply for various education loans.


    Ques. What expenses does the scholarship cover?

    Scholarships to study in Australia for international students cover tuition fees along with living or travelling expenses. Research programs in Australia can offer up to 100% fee waiver to students.

    Ques. What are the Australian Embassy requirements for international students regarding funds?

    The Australian embassy requires international students to provide the university account details to which the tuition fees and health insurance funds have to be transferred.

    Ques. How can I apply for scholarships in Australia?

    Australian Universities, government agencies and private organizations offer various types of financial aids including scholarships, awards and bursaries for international students. For further information regarding scholarships and education loans, students are advised to get in direct contact with the institution.

    Ques. Can I apply for both an Australia Awards Scholarship and a Destination Australia Scholarship?

    Students may apply for many scholarships, however recipients of Australia Awards Scholarships cannot hold any other Australian government scholarship at the same time.

    Ques. If I'm intending to migrate to Australia, can I apply for Australian award or if I have permanent residency?

    No. Australia Awards are not available for students planning immigration in 2021 or those who have Australian permanent residency. As an essential criteria to apply for Australia Awards, international students are required to leave Australia for two years after completing their scholarship.


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