The money side of studying abroad — how much the visa wants you to show, how students actually fund it, and the health cover you're legally required to have. In plain language.
Figures from the Australian Department of Home Affairs / Study Australia, current as of 2025 — always check the official site before you apply.
| What you show | Typical amount (AUD) |
|---|---|
| First-year tuition (course-dependent) | ~$20,000 – $45,000 |
| Living costs (set by Home Affairs) | $29,710 |
| Travel / airfare | ~$2,000 – $2,500 |
| OSHC health cover (whole course) | ~$500 – $650 / year |
An approved education-loan sanction letter is widely accepted as proof of funds — which is why most students sort the loan before lodging the visa.
Government banks lend large sums against collateral (property, FD) at the lowest interest, often with tax benefits under Section 80E. Higher loan ceilings, more paperwork, longer processing.
Non-bank lenders move fast and offer collateral-free loans (typically up to ₹40–75 lakh) with a co-applicant. Interest is higher than public banks, but approval is quicker and university coverage is wide.
Cross-border lenders fund select master's programs with no collateral and no co-signer, paid directly in AUD. Eligibility is course- and university-specific. Note: Prodigy Finance supports Australia; MPOWER currently focuses on the US & Canada, not Australia.
| Secured (with collateral) | Unsecured (no collateral) | |
|---|---|---|
| You pledge | Property / FD / land | Nothing — but need a co-applicant |
| Interest | Lower | Higher |
| Loan ceiling | High (up to ₹1.5 cr+) | Capped (≈₹40–75 lakh) |
| Speed | Slower | Faster |
| Moratorium | Study period + 6–12 months before EMIs start | Similar, varies by lender |
💡 Always compare the total cost (rate + processing fee + forex/disbursal terms), not just the headline interest rate. A neutral loan-comparison platform can put offers side by side for free.
A single-student policy typically runs ~A$500–650 per year, but prices and benefits vary — compare a couple before you buy. Many universities bundle OSHC into your offer; you can usually opt out and arrange your own if it's cheaper.
The visa money breakdown, all loan routes with lender links, the secured-vs-unsecured comparison and the OSHC guide — free, after a quick Google sign-in.
From the visa money rule to loans and OSHC — get the money side sorted before you lodge.