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After Canada, the most popular destination among Indian students is Australia, with a large share of student visa applications coming from India every year. However, Australia’s recent policy changes have made the journey more structured and the government has increased immediate proof-of-funds from ₹13,99,146 to ₹16,96,332 and tightened paperwork requirements. Student intake is capped at 270,000, making early planning and financial readiness crucial.
Yet, Australia remains one of the most promising study-abroad destinations. With world-class universities, global career scope, high employment rates, and strong settlement pathways, it continues to be a top choice. To help you navigate changes and plan confidently, here’s your PayStudy guide to studying in Australia.
| Factor | Details |
|---|---|
| Average Study Cost | ₹11,29,907 – ₹25,42,290 per year |
| Average Living Cost | ₹8,47,430 – ₹14,12,384 per year |
| Funding Sources | Scholarships, education loans, part-time work, personal funds |
| Major Intakes | February (Main) & July (Limited) |
| Visa Type | Student Visa (Subclass 500) |
| Top Cities | Sydney, Melbourne, Brisbane, Adelaide |
| Visa Fee | ~₹1.1 Lakhs |
Although visa fees increased by 125% (July 2025) and financial documentation requirements tightened, Australia remains a powerful choice for international students. The new policies ensure genuine student applicants, not restrict opportunities.
With 10 universities in the QS Top-100, globally relevant programs, strong research output, booming technology & healthcare sectors, and clear post-study pathways, Australia continues to be a strong, future-proof option for Indian students.
If you pause today because of policy headlines, others will move ahead of you tomorrow.
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| University | UG Requirements | PG Requirements | MBA Requirements | Popular Courses |
|---|---|---|---|---|
| Deakin University | 12th pass, IELTS 6.0 | Bachelor’s 65%, IELTS 6.5 | Bachelor’s + 2–3 yrs exp | Business, IT, Engg, Health |
| RMIT University | 12th pass, IELTS 6.0 | Bachelor’s 65%, IELTS 6.5 | Bachelor’s + 3 yrs exp | Design, Media, Engg, Business |
| Macquarie University | 12th pass, IELTS 6.5 | Bachelor’s 65%, IELTS 6.5 | Bachelor’s + 3 yrs exp | Analytics, Cybersecurity, Finance |
| University of Melbourne | 12th pass, IELTS 6.5 | Bachelor’s 65%, IELTS 6.5 | Bachelor’s + 3 yrs exp | Law, Science, Business |
| Monash University | 12th pass, IELTS 6.5 | Bachelor’s 65%, IELTS 6.5 | Bachelor’s + 3 yrs exp | Medicine, Pharmacy, Engineering |
Age: Minimum 17 years
| Test | Score Range |
|---|---|
| IELTS | 6.0–7.0 |
| TOEFL | 79–90 |
| PTE | 58–65 |
Strong clarity of purpose = stronger acceptance chances.
To apply for your Australian student visa, you will need:
Proper documentation speeds up visa approvals.
| Expense | Approx Cost |
|---|---|
| Tuition | AUD 20,000 – 45,000/year |
| Visa Fee | AUD 620 |
| OSHC Insurance | AUD 500 – 600/year |
| Rent | AUD 500 – 1,500/month |
| Food | AUD 300 – 600/month |
| Utilities | AUD 80 – 150/month |
| Transport | AUD 50 – 100/month |
| Books | AUD 500 – 1,000/year |
| Phone/Internet | AUD 50 – 100/month |
Smart budgeting = stress-free study experience.
| Scholarship | Benefit | Eligibility | Level |
|---|---|---|---|
| Education Future Scholarship | ₹2–10 Lakhs | Min 60% in 10th & 12th, loan-backed study plan | UG/PG |
| Monash International Leadership | Varies | Strong academics | PG |
| Melbourne International Scholarship | ₹8.3L + 25% fee waiver | 96% in qualifying exam | UG/PG |
Students in Australia commonly work in:
Follow the permitted work-hour rules to maintain visa compliance.
Steps to Australian PR:
Strategic planning helps convert your education into long-term settlement.
Success abroad begins with strong financial planning. PayStudy ensures you are funding-ready and compliant from day one through:
| Expense Type | Average Annual Cost (AUD) |
|---|---|
| Tuition Fees (UG/PG) | 30,000 – 55,000 |
| Living Expenses | 24,000 – 30,000 |
| Health Insurance | 800 – 1,200 |
| Travel & Miscellaneous | 1,000 – 2,000 |
Estimated total cost: AUD 35,000 – 70,000 (≈ ₹20 – 35 Lakhs per year).
Australia’s visa (subclass 500) requires proof of funds for tuition and living expenses.Students must show access to approximately AUD 24,505 per year for living costs in addition to tuition.With PayStudy, students can secure both tuition and living expenses through education loans from leading Indian and international lenders — ensuring visa compliance and stress-free study abroad planning.
| Loan Type | Description | Collateral Requirement | Interest Range (p.a.) |
|---|---|---|---|
| Secured Loan | Backed by tangible collateral (property, FDs, etc.). Offers higher limits and lower interest. | Yes | 9.75% – 10.75% |
| Unsecured Loan | Based on co-applicant income and student profile. No collateral required. | No | 10.75% – 13.5% |
| Lender / Institution | Loan Type | Max Loan Amount | Interest Range (Approx.) | Special Notes |
|---|---|---|---|---|
| State Bank of India (SBI) | Secured | ₹1.5 Crore | 9.8 – 10.5% | Lower rates for women students |
| Bank of BAroda (BOB) | Secured | ₹1.25 Crore | 9.85 – 10.75% | Minimal margin requirement |
| Union Bank of India (UBI) | Secured | ₹1.25 Crore | 10 – 10.75% | Pre-visa sanction letters available |
| ICICI Bank | Unsecured | ₹50 Lakhs | 10.75 – 12.5% | Faster approvals for top Australian universities |
| Axis Bank | Unsecured | ₹50 Lakhs | 11 – 12.75% | Pre-visa disbursement facility available |
| Credila | Unsecured | ₹60 Lakhs | 11 – 13% | Custom EMI repayment plans |
| Avanse / InCred Finance | Unsecured (NBFC) | ₹40 – 50 Lakhs | 11 – 13.5% | Ideal for students without collateral |
| Prodigy FinancE | USD-based | USD 100,000 | 11 – 13.5% | No co-applicant, global coverage |
| MPOWER Financing | USD-based | USD 100,000 | 12 – 13.5% | No co-applicant, global coverage |
Most lenders cover up to 100 % of tuition and 90 % of total study expenses.
| Parameter | Requirement |
|---|---|
| Nationality | Indian citizen |
| Age | 18 years and above |
| Admission Status | Offer letter / COE (Confirmation of Enrolment) from recognized Australian institution |
| Course | Undergraduate, postgraduate, or research program (minimum 1-year duration) |
| Co-Applicant | Required for unsecured loans (parent/guardian/spouse) |
| Collateral | Required for secured loans |
| Credit Profile | Satisfactory CIBIL score (> 700 preferred) |
Processing Time: 7 – 12 business days for unsecured loans; 10 – 15 days for secured loans.
| Lender | Tenure | Moratorium | Repayment Type |
|---|---|---|---|
| SBI / BOB / UBI | Up to 15 years | Course + 12 months | EMI or Simple Interest |
| ICICI / Axis | Up to 10 years | Course + 6 months | EMI or Partial Interest |
| Credila / Avanse | Up to 12 years | Course + 12 months | Flexible EMI |
| MPOWER / Prodigy | Up to 20 years | Course + 6 months | USD-denominated EMI |
Note: Most banks allow early repayment with no penalties. Students working in Australia can also start repaying from abroad through PayFX channels.
To reduce loan dependency, students can combine financing with popular Australian scholarships such as
PayStudy counsellors can guide you on how to combine scholarships with education loans for maximum benefit.
Interest paid on education loans is eligible for full tax deduction under Section 80E for up to 8 years post-repayment commencement.
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