Download
1 / 6
60 likes | 61 Views
Australia is known for housing some of the best universities in the world. The quality of education imparted there has none to compare. This is the reason why scores of students fly to Australia to study the trade of their choice. But studying there comes at a cost. And this cost can be covered by education loans. To get a grip on how to finance their education down under, students often google u201cStudent loans Australiau201d and to learn about education loan to study in Australia.
E N D
An overview of the student loan process for studying in Australia
Australia is known for housing some of the best universities in the world. The quality of education imparted there has none to compare. This is the reason why scores of students fly to Australia to study the trade of their choice. But studying there comes at a cost. And this cost can be covered by education loans. To get a grip on how to finance their education down under, students often google “Student loans Australia” and to learn about education loan to study in Australia. • The first step to follow to study in Australia is to shortlist the universities in Australia where you would like to study. And fill their admission application forms. Those universities, on the basis of the merit you display, will allot you an admission seat. When you get admission letter, you will have to arrange money to fund your education in that university. The process to get an education loan for your studies in Australia is what follows:
Securing education loan You will have to select a lender for your education expenses in Australia. Compare various lenders based on the maximum loan amount they are ready to provide, the interest rate they will levy on it, the services they offer, the tenure and EMIs of the repayment, and the moratorium or grace period they offer. Also see if the lender is ready to offer you a collateral-free loan or whether they ask you to secure your financial assets against the loan. Ask the lender if they provide friendly customer services like doorstep verification process, fast-track loan approval, pre-visa loan, pre-admission loan, proof of funds and so on as these services will play an essential role in the next point. After the comparison, select the most feasible lender for yourself and secure your education funds. Mostly, this is how you can study loans for Australia.
Sending the funds and receiving CoE Once you secure the funds, you have to do two more things. First, deposit at least the tuition fees of the first semester to the university along with your health insurance charges. Second, open a savings account in a bank in Australia and deposit one year’s living expenses in that account. The education loan from your lender will cover these costs. When you fulfil these two steps, the Australian universities will issue a Confirmation of Enrolment (CoE) to you. This document is confirmation of your admission to a course in that university.
So, these are the steps to get a seat in an Australian university. Please understand this process carefully to estimate the time it would take for you to bag a seat at an Australian university, pay its tuition fees, and get a CoE from that university. The important point to note here is that these all stages take place before the Visa is procured. So your lenders should approve pre-visa student loans for Australia. Note that not all lenders offer pre-visa education loans. All the best!
