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Education Loans for Australia

Updated on Nov 15, 2022
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There are no international student loan companies in Australia that assist Indians in obtaining overseas financial aid. This leaves students with two options: Indian Nationalized Banks (both private and government-owned) or Non-Banking Financial Banking Corporations (NBFCs). During the application procedure, close collaboration with visa offices, overseas admission offices, and financial authorities is required. Here's a step-by-step tutorial to help you get started.

Australia Education Loan Process

  1. To obtain an education loan for studies in Australia, choose a banking institution.

  2. You may apply for an Education Loan by submitting initial KYC papers, collateral documents, and academic records.

  3. Get an electronic Confirmation of Enrolment (eCoE) from an Australian university.

  4. Get the confirmation from the Australian Embassy in India of your application for a Student Visa Subclass 500.

  5. Send your paperwork to the bank and obtain a Loan Sanction Letter and a signed agreement.

  6. To obtain your Australian Student Visa, submit the Loan Sanction Letter to the Embassy and complete the remaining procedures.

  7. Submit the Australian Student Visa confirmation to the institution to confirm your intake session information and fee payment plan. To begin loan disbursement, give the bank this data.

  8. Apply to Indian Banking Institutions for Indian Government Education Loan Subsidy Schemes.


Note: NBFCs and Private International Education Loans to Study In Australia are not eligible for any Indian Government Subsidy Scheme.

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