Australia is the fourth-largest destination for Indian students, with around 1.2 lakh enrolled in 2025. The Group of Eight universities offer world-class research, the post-study work visa extends up to 6 years for STEM graduates, and Australia's points-based PR system is among t…
₹35–55 L
Typical Loan
48 Hours
Approval
From 6.85%
Interest Rate
Country Snapshot
Why Australia
World-class universities
14+ approved institutions
Strong career outlook
~1.2 lakh Indian students/yr
Loan-ready
All 12+ FundMyCampus banks lend here
Global network
Clear post-study work pathway
The Complete Guide
Australia hosts approximately 1.2 lakh Indian students in 2025, with the number growing steadily despite the broader fluctuations in international education markets. Australia's appeal for Indian students rests on three pillars: (1) world-class education through the Group of Eight research universities; (2) extended post-study work rights (now up to 6 years for STEM PhDs); (3) one of the most predictable PR pathways globally via the points-based General Skilled Migration program.
For Indian middle-class families, Australia offers favourable financial math. A 2-year Master's at University of Melbourne, Monash, or UNSW costs ₹35–55 L total — slightly higher than UK 1-year programs but significantly cheaper than US 2-year programs. PG Diploma programs at TAFE colleges (₹15–30 L) provide affordable, job-focused alternatives popular with cost-conscious students.
Loan options for Australia-bound students are excellent across the lender spectrum. SBI's Global Ed-Vantage offers the lowest rates (8.65%–10.15%), ICICI and HDFC Credila provide higher unsecured limits with faster processing, and Avanse handles the long tail of Tier-2 universities and TAFE programs. This guide covers cost breakdowns by program type, lender selection, Subclass 500 visa financial requirements, top universities ranked by lender preference, sample EMI calculations, and the post-study work + PR pathway that makes Australia particularly attractive for STEM students.
Use these numbers to right-size your loan — under-borrowing forces 18%+ personal loans abroad, over-borrowing wastes interest.
Tuition
Living
Travel
Misc + Books
Average Total Program Cost
₹35–55 L for 2-year Master's
Typical for Indian Master's students
| Program | Tuition | Living | Travel | Misc | Total |
|---|---|---|---|---|---|
| Master's (2 yrs) | ₹30–55 L | ₹16–22 L | ₹2–3 L | ₹3–4 L | ₹51–84 L |
| Bachelors (3–4 yrs) | ₹55–1.1 Cr | ₹35–55 L | ₹4–6 L | ₹6–10 L | ₹1.0–1.8 Cr |
| PG Diploma (1–2 yrs) | ₹12–25 L | ₹8–14 L | ₹1.5–2.5 L | ₹2–3 L | ₹24–44 L |
| MBA (1–2 yrs) | ₹35–75 L (Melbourne, AGSM, MBS) | ₹14–22 L | ₹2 L | ₹3–4 L | ₹54 L – 1.0 Cr |
Your Journey
From admit to disbursement — what FundMyCampus handles end-to-end.
Check eligibility
Free 2-min quiz tells you which banks will approve and at what rate.
Submit documents
Upload through our portal — we organise and stress-test before submission.
Sanction in days
Most Australia loans approved in 5–14 days. We chase the bank for you.
Disbursement
Bank wires fees directly to your Australia institution. You focus on the move.
PSU banks 8.65–10.50%, private 10.25–12.75%, NBFCs 10.50–14%. Australia loans average ₹35–55 L. For Feb/Jul intake cycles, start 3 months ahead for PSU rates; NBFCs disburse in 5–8 days for late admits.
SBI Global Ed-Vantage
Max: ₹1.5 Cr
8.65% – 10.15%
Lowest rates for Australia studies. Group of Eight universities qualify for SBI's List A — best terms and highest unsecured limits.
ICICI Bank Education Loan
Max: ₹1 Cr unsecured
10.25% – 12.50%
Fast 7–14 day approval. Strong tie-ups with Australian universities for direct fee remittance. Best for late admits.
HDFC Credila
Max: ₹1.5 Cr unsecured
10.50% – 13.00%
Largest unsecured limit, fastest approval (5–8 days). Best for high-amount loans and Australia MBA programs.
Avanse Financial
Max: ₹75 L unsecured
11.00% – 14.00%
Flexible on Tier-2 Australian universities and PG diploma programs (TAFE, vocational programs banks decline).
Bank of Baroda Vidya
Max: ₹1.5 Cr
8.85% – 10.50%
PSU alternative with similar rates to SBI but typically 5–7 days faster at Tier-2 cities. Good for South India branches.
Axis Bank Education Loan
Max: ₹75 L unsecured
10.50% – 12.75%
Strong MBA loan product useful for AGSM, Melbourne Business School. Step-up EMI options for post-MBA salary trajectory.
For Australia studies, loan amounts (₹35–55 L for 2-year Master's) typically fall within unsecured limits of all major lenders. SBI offers up to ₹50 L unsecured for List A universities (Group of Eight + several Tier-1 universities). ICICI offers ₹1 Cr unsecured for premier Australian universities. HDFC Credila and Avanse extend ₹1.5 Cr and ₹75 L unsecured. For Australia MBA programs at top schools (Melbourne Business School, AGSM, Macquarie Graduate School of Management) where costs cross ₹70 L, partial collateral may help unlock higher amounts at better rates. Accepted collateral: residential property (LTV 75–85%), fixed deposits with the lender (LTV 90%), LIC policies. For PG Diploma programs at TAFE colleges (much cheaper at ₹15–25 L total), no collateral is ever needed.
Visa Essentials
What you need to prove for your Australia visa
Year 1 fees
Tuition Proof
₹14–20
Living Funds
Mandatory
Loan Letter
3 key items
Requirements
Key Requirements
The Australian Subclass 500 Student Visa requires you to prove financial capacity through the Genuine Temporary Entrant…
The acceptable financial proof: (1) Education loan sanction letter from a recognised Indian bank or NBFC, on bank…
The Department of Home Affairs (DHA) is strict about GTE assessment — they evaluate whether you genuinely intend to…
These are on most lenders' preferred lists — easier approval, higher unsecured limits, lower rates.
| University | Location | Annual Fees | Tier |
|---|---|---|---|
| University of Melbourne | Melbourne | ₹35 L | Premier (Group of 8) |
| Australian National University (ANU) | Canberra | ₹32 L | Premier (Group of 8) |
| University of Sydney | Sydney | ₹35 L | Premier (Group of 8) |
| University of Queensland (UQ) | Brisbane | ₹30 L | Premier (Group of 8) |
| Monash University | Melbourne | ₹32 L | Premier (Group of 8) |
| University of New South Wales (UNSW) | Sydney | ₹35 L | Premier (Group of 8) |
| University of Western Australia (UWA) | Perth | ₹28 L | Premier (Group of 8) |
| University of Adelaide | Adelaide | ₹26 L | Premier (Group of 8) |
| Macquarie University | Sydney | ₹26 L | Tier 1 |
| RMIT University | Melbourne | ₹24 L | Tier 1 |
| University of Technology Sydney (UTS) | Sydney | ₹28 L | Tier 1 |
| Queensland University of Technology (QUT) | Brisbane | ₹22 L | Tier 1 |
| Deakin University | Melbourne | ₹22 L | Tier 1 |
| Griffith University | Brisbane | ₹20 L | Tier 1 |
After Graduation
What awaits Indian graduates post-study
Available
Post-study work
Yes
PR pathway
Strong
Salary growth
~1.2 lakh/yr
Indian community
Highlights
Australia offers the longest post-study work visa among major destinations: the Subclass 485 Temporary Graduate Visa.
This extended pathway is particularly attractive for IT, Engineering, Healthcare, and Education graduates.
Australia's General Skilled Migration (GSM) program offers a clear PR pathway via the points-based Subclass 189/190/491…
Typical EMI for a Australia loan, 10-year repayment tenure after moratorium.
₹35 L · 10% · 10 yrs
~₹46,300
Monthly EMI
₹50 L · 10.5% · 10 yrs
~₹67,500
Monthly EMI
₹40 L · 9% · 12 yrs
~₹45,200
Monthly EMI
₹75 L · 11% · 12 yrs
~₹89,000
Monthly EMI
₹60 L · 10.5% · 10 yrs
~₹81,000
Monthly EMI
₹45 L · 10% · 10 yrs
~₹59,500
Monthly EMI
For Australia studies, applicable Indian government schemes: (1) Padho Pardesh — interest subsidy during moratorium for minority community PG students (family income ≤ ₹6 L). (2) Dr. Ambedkar Central Sector Scheme for SC/ST students (income ≤ ₹8 L). (3) National Overseas Scholarship — partial tuition support for SC/ST/OBC/Minority. (4) Section 80E tax deduction — full deduction on interest paid, up to 8 years from repayment start. (5) Australia Awards Scholarships (formerly AusAID) — fully-funded scholarships from Australian government for select Indian students; very competitive but eliminates loan need. (6) Endeavour Scholarships — merit-based, partial funding for STEM, research programs. (7) University-specific scholarships at Group of Eight universities often cover 25–50% of tuition for Indian students with strong academic records. Most Indian students don't bother applying for these scholarships, but for top-ranked students they can cut the loan amount by 30–40%.
Success Story
““My initial quote from a private bank was 12.25% direct. Through FundMyCampus, the same bank came back at 10.50% — a 1.75% reduction that saves me ₹6L+ over the loan tenure. Loan sanctioned in 11 days, visa approved in 4 weeks, landed in Melbourne for February intake. Now working at a Sydney tech firm during my Subclass 485 visa, applying for PR next year.”
Common questions Indian students ask about studying in Australia on loan