Education Loan for Studying in Australia from India 2026

Enrolment rates are increasing by 4-5% each year across Australian Universities, and so is the demand for loan applications for study. Students travelling to Australia for higher education must submit their full tuition fees before leaving their country. To fund studies, there are education loans in Australia. Check out details.

Studying in Australia can be expensive for Indian students. The average costs for studying can range anywhere between INR 13.80 Lakhs - INR 45 Lakhs per annum (may vary per course/university). Along with tuition costs, living costs in Australia are also calculated. Overall, it becomes expensive to study and live in Australia. In order to cut down some expenses, Indian applicants can look at education loans to study in Australia. 

Education loans for studying in Australia are available across private and national Indian banks for students. There are various education loans in India to study abroad that offer students with lower interest rates and repayment options. For those who are looking at education loans to study in Australia can check out this article. We have mentioned some of the top banks offering study loans for Indian students along with eligibility, document checklist and application process related details.

Studying Costs in Australia for International Students 2026

The cost of studying in Australia for international students in 2026 varies per level of course. Here is a brief understanding of how much applicants will have to spend on their annual tuitions and fee fot studying:

These are average costs, and can vary per university and course. Applicants must check for the recent and updated course fee before applying for admissions.

Educational Loan for Australia for Indian Students

Since pursuing education in Australia is expensive for students, especially from India, they have the sole option of applying for educational loans for higher study. Australia Universities on average charges INR 20-35 Lakhs from an Indian student for one year of study. Thus, those who cannot pay this lump sum together have to apply for loans. The following options are available for obtaining an educational loan:

1. Indian Nationalised Banks

They usually offer secured educational loans with up to 90% collateral to students. Another advantage of choosing a nationalised bank includes its lower interest rates, economical processing charges and no extra cost to be incurred on interest rates. The processing of applications may take a longer duration and maybe a follow-up can be delayed in such cases.

Let's check out some of the top Indian banks offering education loan for Australia, along with the maximum loan amount, current interest rate (as of 2025 September) and repayment tenure:

It has the added advantage of providing 100% loans to those students who have been admitted to Go8 or Group of 8 Australian Universities, and can avail student education loans from the Indian nationalised banks as mentioned earlier.

2. Private Banks in India for Education Loan in Australia

The process of acquiring a loan is faster compared to nationalised banks in India. It comes with better follow-ups and a dedicated relationship manager. However, private loans are comparatively more expensive in terms of processing fees and interest rates, and are typically unsecured loans for education purposes. Unsecured loans do not require the applicant or student, in this case, to mortgage or submit assets or collateral in exchange for the loan. For instance, Axis Bank, HDFC Bank and ICICI Bank are all private banks that offer unsecured loans to students admitted to universities across Australia for higher education.

Check out the private banks in Indian offering education loans to Indian students to study in Australia in 2026: 

Read more at: Public v/s Private Education Loan Providers

3. NBFC or Non-Bank Financial Companies

The third option for students applying for educational loans to study in Australia is NBFC. This includes HDFC Bank Credila education loan, Auxilo, etc. which offer loan to students based on the final confirmation from the Australian High Commission. This just makes the process easier for disbursement of tuition fee, direct sanctions from the financial institution responsible for handling, and it reflects in the bank account as well. Thus, this option can be considered by students if they wish to apply for an educational loan to study in Australia.

Find more details at: Top Education Loan Providers in India for Studying Abroad.

Process to Apply for an Educational Loan for Australia

Once students have secured admission to the university of their choice, their next big hurdle would be to arrange the funds required for their educational expenses. The cost of studying in Australia is comparable to that of other top destinations, such as the US and UK, making it an expensive investment compared to studying within India. Students and families looking to avail an Education Loan would be happy to know that in India numerous Banking and Non-Banking institutions offer Education Loan at a low rate of interest to commendable students to pursue their higher education in Australia.

Applying for an Education Loan has come a long way, and today, students and their parents looking to apply for an Education Loan can do so from the comfort of their home. Today, applying for an Education loan is simple, and every student should take advantage of the same and study abroad. However, before applying for an Education Loan, certain particulars must be kept in mind.

Eligibility criteria to apply for an education loan to study in Australia

• The student should be an Indian citizen.
• The student must have obtained admission in a recognised university in Australia and have a CoE as well
• The Australian university must be CRICOS registered and should be TEQSA accredited as well.

Also Read: Eligibility Criteria for Education Loan

List of Documents Required For an Education Loan to Australia

Nationalised banks such as the State Bank of India (SBI) provide Education loans up to Rs. 40 Lakhs to deserving students who wish to go to Australia for higher studies. However, before the bank can process the loan amount, the borrower (student) must furnish a list of documents. These include:

• Letter of enrollment from the University
• The loan application form was filled out in full
• Documents on the cost of studies
• Identification proof
• Residence proof
• PAN details of the candidate
• Guarantor/ co-borrower/ student's bank statements
• Guarantor/ co-borrower/ student's statement of assets
• Guarantor/ co-borrower/ student's proof of income

Expenses covered under the loan include

The bank sanctions education loan for educational purposes. These loans usually do not cover personal expenses. The loan amount sanctioned would include expenses for:

• Tuition fees
• Travel expenses
• Study related travel related to project work
• Expenses of books, laptop, and other study material

If you still have queries, you can reach out to us in the comments below or apply for an education loan through Shiksha Study Abroad.