while studying in Australia, you will need sufficient funds to cover your living expenses (housing, food, clothing, etc) and health insurance, as well as university's tuition and fees.
So how much money will you need? You can get a general idea about expenses by looking at catalogs or application information provided by the university. Remember, however, that tuition rates vary tremendously. Some universities could be cheaper than others, but this is not always true, so to get the best idea of expenses you need to contact the schools you are interested in
The cost of living in different parts of Australia also varies. In general, living in urban areas (in or near a big city) is more expensive than living in smaller towns or rural areas. Renting an apartment in a big city can cost twice as much as it does in a smaller town because there is such high demand for housing in large Australian cities. Likewise, food, clothing, entertainment, and other living expenses may be more expensive in a city.
Budgeting is a continuous process. At this stage, work on a "big picture" budget that will include tuition, room and board, transportation, and living expenses. Later you can be more specific, taking into consideration all the additional expenses of moving and settling in.
Remember, you should never count on earning enough from working in Australia to pay your way. See our section on Working in Australia for more complete information.
For more information about financial aid sources please see:
International Student Loan - for students looking to study in australia you should visit International Student Loan.com who offer a variety of programs for studying around the world.
International Scholarships - search over 1,000 scholarships and awards for international students who want to study around the world, all free of charge.
International Financial Aid - check out our dedicated resource page for international financial aid covering all topics, and offering some excellent help and advice
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Step 1Choose your citizenship and school, and click "Find My Student Loan"
Step 2Review your list of student loan lenders and compare the terms
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The only place to find and compare student loans that are available for international students at your campus.
Student Loans for International and Study Abroad Students
If you are looking for a student loan to fund your international education, we can help. Whether you are an international student in the US or a US student studying abroad – finding a student loan doesn't have to be difficult and with our student loan comparison tool you can find the right loan in seconds – and then apply online.
Why International Student Loans?
Studying overseas is expensive, and many students struggle to fund their international studies. Scholarships and grants are available, but they are very competitive and rarely cover all of your expenses. A loan can cover up to the total cost of attendance, as determined by your school, minus any other aid received.
Here are just a few of the costs your international student loan will cover:
- Tuition
- Room and board
- Books and supplies
- Travel and transportation
- Health insurance
- Living expenses
Even if you already have been awarded financial aid, you may find that you are still coming up short. In cases like these, international student loans can cover the difference – or they can cover the total cost of your education.
It is pretty easy to get a student loan. Lending institutions understand that most college students will probably not have a solid money situation or consistent stream of revenue; therefore the loans that you receive are based on your future income potential after your study. Some of the loan programs will require you to have a co signer or guarantor who will support the repayment terms if you are unable to pay it. The guarantor is typically a parent or guardian.
Furthermore, many of these programs will permit you to put off payment on the loan for some time, generally after you complete your study, and many times even longer than that. As a result, you are given time to enter the job market and begin your career without worrying about paying off your loans. The one down side to these loans is that you will be accruing interest starting from the date you take out the money and the amount of interest that piles up can be significant.
