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To secure an education loan for studying in Australia, you'll need to gather a variety of important documents. This includes your basic application materials, identity and academic records, and collateral details if required. Understanding education loan required documents for studying in Australia is important to streamline your application process. Wondering what documents we need for an education loan in Australia? This guide will provide a clear overview to help you prepare everything necessary for your loan application.
Confirmation of Enrolment (CoE)
Issued by CRICOS, it confirms your enrollment in an Australian institution.
Language Proficiency Proof
A minimum IELTS score of 6 in all sections or an equivalent PTE score.
KYC (Know Your Customer) Documents
Photo ID: PAN card, driving license, Voter ID card, Aadhar Card, or Passport.
Residence Proof: Proof of residence for both the applicant and the co-applicant.
Academic Documents
Marksheets from 10th grade, 12th grade, and any bachelor's degree.
Score reports for any applicable entrance exams (GRE, GMAT, TOEFL, IELTS, etc.).
Bank and Income Documents
Bank Statements: Bank statements for the last six months of the student/ co-borrower/ guarantor.
Income Proof: Proof of income for the student/ co-borrower/ guarantor, such as salary slips or tax returns.
Loan Application and Supporting Documents
A completed loan application form.
Passport-size photographs of both the applicant and the co-applicant.
In addition to the above, the following technical documents may be required:
Title Deed: Complete with all pages.
Approved Layout Plan: Must be approved by relevant authorities.
Revenue Document (Khata/Patta): Certifies ownership and property location.
Non-Encumbrance Certificate: Confirms the property is free from legal liabilities.
Possession Certificate: Required if purchased from a builder.
Latest Property Tax Receipt: Proof of up-to-date property tax payments.
Conversion Certificate: For land-use conversion, if applicable.
Sale/Gift/Partition Deed: In favor of the customer, with at least 13 years of history.
Khata Certificate and Extract: Proves ownership and location.
Encumbrance Certificate: Shows all transactions for a minimum of 13 years.
Latest Property Tax Receipt: Confirms that property taxes are current.
These documents are crucial for securing a study loan abroad, especially when the loan is backed by collateral like property. Proper preparation of these education loan required documents for studying in Australia ensures a smooth and successful application process by verifying the legal and technical validity of the collateral.
Q1. What documents we need for education loan?
Answer: For an education loan, you need:
Mark sheets from 10th, 12th, or entrance exams.
KYC documents.
University/college admission letter.
Course fee structure.
Completed application form with photos
Q2. How much loan is required to study in Australia?
Answer: The amount of loan required to study in Australia depends on your degree and university. Typically, a bachelor’s degree costs between AUD 20,000 and AUD 45,000 per year, while a master’s degree ranges from AUD 22,000 to AUD 50,000 annually. Additionally, you need to show proof of funds of at least AUD 24,505 as per Australian government requirements.
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