Fulfill your dream to study in top Study in the Australia universities with hassle-free loans covering tuition, living, and travel — at competitive rates.
Flexible and low interest options to suit your needs.
No security required for reputed universities.
Repay only when you start earning.
One-stop solution for all education-related costs.
30K+ Students Counselled
600+ Universities
Australia is among the top countries to pursue higher education for students from India, providing excellent educational opportunities and career prospects. New policy changes have made the application more rigorous with the added need for financial requirements and documentation, but they provide a more structured and honest application process. Although visa fees increased by 125% (July 2025) and financial documentation requirements tightened.
With 10 universities in the QS Top 100, high employability, and strong sectors like technology and healthcare, Australia remains a reliable and future-focused choice. At PayStudy, we help you plan your higher education in Australia with the right education loan solutions. From loan approval to financial guidance, we support you at every step to make your study abroad dream smooth admission and student visa process.
| 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 |
| 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 |
To reduce loan dependency, students can combine financing with popular Australian scholarships such as
PayStudy counselors can guide you on how to combine scholarships with education loans for maximum benefit.
With an education loan, you can easily pay tuition fees, housing, travel, medical insurance, and expenses, which will help you to have a hassle-free study tour.
Taking an education loan to study in Australia allows you to focus on your studies while managing expenses in a structured way instead of depending on your entire savings.
Most loans will have a moratorium time that will be after course completion, giving you time to secure a job.
Australia is known for premium education in fields like business, healthcare, IT, and engineering, and loans make these programs accessible.
Submit your profile and loan requirements through our simple online form.
Receive loan offers matched to your profile from top partners.
We help gather and verify all your required documents quickly.
Our experts handle coordination with banks/NBFCs for fast sanction.
Funds are sent directly to the university or your account as needed.
| 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 |
To apply for your Australian student visa, you will need proper documentation to speed up visa approvals.
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.
We make the loan process simple, quick, and minimal paperwork. Based on your chosen university and eligibility, we also help identify the most suitable lender, making the loan application and approval process smoother.
Get competitive interest rates and flexible repayment terms from the trusted banks and NBFCs. Eligible students may also benefit from reduced or waived processing fees, preferential insurance offers, and lender-specific advantages, subject to lender policies.
From choosing the right lender to loan application, documentation, sanction, and disbursement, we'll guide you through every step. We also help prepare strong loan applications to maximize your education loan eligibility based on lender requirements.
No hidden charges, clear communication, and dedicated guidance to ensure a smooth experience.
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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