9 Best Study Loan for International Students in Australia: (Get Over $30,000)

Studying in Australia offers international students a world-class education, but it can be financially demanding.

To ease the burden of tuition fees, living expenses, and other costs, taking out a study loan can be a smart option.

Several Australian financial institutions offer study loans specifically designed for international students.

In this article, we will highlight the 9 best study loans for international students in Australia, summarizing key features such as loan amounts, interest rates, eligibility criteria, and loan terms.

Best Study Loan for International Students in Australia

Loan Provider	Loan Amount	Co-signer Requirement	Interest Rates	Loan Terms	Eligibility Requirements
Commonwealth Bank	Up to AUD 50,000	Yes	6.99% – 13.5%	1 – 7 years	Full-time international student with valid student visa
ANZ Bank	Up to AUD 40,000	Yes	7% – 14%	5 – 7 years	Enrolled at an eligible Australian university with a student visa
Westpac	Up to AUD 60,000	Yes	6.5% – 12.5%	5 – 10 years	Full-time students at accredited Australian institutions
NAB Bank	Up to AUD 35,000	Yes	7.5% – 13%	5 – 7 years	International students with a valid student visa
Bank of Melbourne	Up to AUD 45,000	Yes	6.75% – 12%	5 – 7 years	Full-time students enrolled in eligible Australian institutions
College Ave Student Loans	Up to $80,000	No	5.99% – 12.99%	5 – 15 years	International students enrolled in eligible institutions (US-based option)
Suncorp Bank	Up to AUD 35,000	Yes	6.25% – 13%	5 – 7 years	Full-time international students with proof of enrollment and visa
Bendigo Bank	Up to AUD 40,000	Yes	6.5% – 12%	5 – 7 years	International students enrolled at a recognized Australian institution
HSBC Australia	Up to AUD 50,000	Yes	7% – 14%	5 – 10 years	Full-time international students with Australian student visa

1. Commonwealth Bank

• Loan Amount: Up to AUD 50,000
• Interest Rates: 6.99% – 13.5%
• Loan Terms: 1 – 7 years

Commonwealth Bank offers study loans up to AUD 50,000 for international students, with interest rates ranging from 6.99% to 13.5%.

The loan term can vary between 1 and 7 years, depending on the loan amount. International students must have a valid Australian student visa and be enrolled full-time at an accredited institution. A co-signer is required for this loan.

2. ANZ Bank

• Loan Amount: Up to AUD 40,000
• Interest Rates: 7% – 14%
• Loan Terms: 5 – 7 years

ANZ offers loans up to AUD 40,000, with interest rates ranging from 7% to 14%.

The loan term ranges from 5 to 7 years, depending on the loan amount.

International students who hold a student visa and are enrolled at an Australian institution can apply, but a co-signer is required.

3. Westpac

• Loan Amount: Up to AUD 60,000
• Interest Rates: 6.5% – 12.5%
• Loan Terms: 5 – 10 years

Westpac offers study loans with a higher loan limit of AUD 60,000 and interest rates from 6.5% to 12.5%.

The loan terms are flexible, ranging from 5 to 10 years.

International students enrolled in accredited universities in Australia can apply, with the requirement of a co-signer.

4. NAB Bank

• Loan Amount: Up to AUD 35,000
• Interest Rates: 7.5% – 13%
• Loan Terms: 5 – 7 years

NAB offers loans up to AUD 35,000, with interest rates between 7.5% and 13%.

The loan term is between 5 and 7 years.

International students with a valid Australian student visa are eligible, but a co-signer is required for loan approval.

5. Bank of Melbourne

• Loan Amount: Up to AUD 45,000
• Interest Rates: 6.75% – 12%
• Loan Terms: 5 – 7 years

Bank of Melbourne offers loans of up to AUD 45,000 with interest rates ranging from 6.75% to 12%. Loan terms are available between 5 and 7 years.

International students must be enrolled in full-time courses at eligible Australian universities, with a co-signer required.

6. College Ave Student Loans

• Loan Amount: Up to $80,000
• Interest Rates: 5.99% – 12.99%
• Loan Terms: 5 – 15 years

College Ave Student Loans offers international students the ability to borrow up to $80,000 with an interest rate range of 5.99% to 12.99%.

The loan term can be extended from 5 to 15 years.

A key benefit is that College Ave does not require a co-signer, making it a great option for international students without a local co-signer.

Students must be enrolled in an eligible institution.

7. Suncorp Bank

• Loan Amount: Up to AUD 35,000
• Interest Rates: 6.25% – 13%
• Loan Terms: 5 – 7 years

Suncorp offers education loans up to AUD 35,000 with interest rates ranging from 6.25% to 13%. Loan terms are flexible, with options from 5 to 7 years.

To be eligible, international students need to show proof of enrollment in an eligible course and hold a valid student visa.

8. Bendigo Bank

• Loan Amount: Up to AUD 40,000
• Interest Rates: 6.5% – 12%
• Loan Terms: 5 – 7 years

Bendigo Bank offers loans up to AUD 40,000 with interest rates between 6.5% and 12%. Loan terms range from 5 to 7 years.

International students enrolled at accredited Australian institutions can apply, with a co-signer required.

9. HSBC Australia

• Loan Amount: Up to AUD 50,000
• Interest Rates: 7% – 14%
• Loan Terms: 5 – 10 years

HSBC offers loans up to AUD 50,000 for international students, with interest rates ranging from 7% to 14%.

Loan terms are available between 5 and 10 years.

International students must have a valid student visa and be enrolled in full-time studies at an accredited Australian institution. A co-signer is required.

Quick One: We have other useful loan articles here.

Frequently Asked Questions

Conclusion

Studying in Australia is a wonderful opportunity, but financing your education can be challenging without the right loan options.

Fortunately, there are several study loan providers that cater specifically to international students, offering flexible terms and competitive interest rates.

By comparing the loan amounts, interest rates, and eligibility requirements, you can find the loan that best suits your financial needs.

Be sure to review all terms carefully and choose the option that offers the most benefits for your situation.