Australia is home to some of the world’s top universities, attracting thousands of students each year. But studying here comes with high costs — tuition fees alone range from AUD 20,000 – 45,000 per year, and living expenses can add another AUD 15,000 – 25,000 annually. For most students, study loans are essential to make their education dreams a reality.
In this guide, we’ll explore the top study loan providers in Australia (2025), options for international students, and tips to secure the right loan.
Why Students Need Study Loans in Australia
- High tuition fees – Especially in medicine, business, and engineering.
- Living costs – Accommodation, transport, food, and healthcare add up.
- Visa requirement – Proof of funds is needed for a student visa.
- Flexibility – Loans cover tuition, housing, and even travel.
Types of Study Loans for Students
- Australian Bank Loans – For students with local guarantors or residency ties.
- Home-Country Bank Loans – For international students (e.g., Indian banks lending before departure).
- Private/Non-Bank Lenders – Faster but often higher interest rates.
- University Partnerships – Some schools partner with lenders to help students finance education.
Top Study Loan Providers in Australia (2025)
1. Commonwealth Bank of Australia (CBA)
- Why it’s trusted: Part of the “Big Four” banks.
- Highlights:
- Covers tuition + living costs.
- Flexible repayment options.
- Discounts for existing customers.
- Best for: Students with guarantors in Australia.
2. ANZ Bank
- Why students choose it: Quick approvals and strong support.
- Highlights:
- Competitive rates.
- Tailored education loan packages.
- Easy online management.
- Best for: Students seeking a simple, reliable option.
3. Westpac Bank
- Why it stands out: One of the oldest and most established banks.
- Highlights:
- Covers tuition, accommodation, and travel.
- Multi-year repayment terms.
- Top-up facilities for extended study.
- Best for: Students needing larger loan amounts.
4. National Australia Bank (NAB)
- Why it’s solid: Transparent with flexible repayment.
- Highlights:
- Choice of fixed or variable rates.
- No penalties for early repayments.
- Strong customer service.
- Best for: Students wanting repayment flexibility.
5. SBI Global Ed-Vantage (India)
- Why it’s ideal for Indian students: Designed for overseas studies.
- Highlights:
- Loan amount up to INR 1.5 crore.
- Covers tuition + living + travel.
- Moratorium until after studies.
- Best for: Indian students applying to Australian universities.
6. HDFC Credila (India)
- Why it’s popular: Education loan specialist.
- Highlights:
- Custom EMIs and repayment up to 15 years.
- Covers full cost of education.
- Fast approval.
- Best for: Indian students wanting longer repayment flexibility.
7. Prodigy Finance
- Why it’s unique: Caters to international students without guarantors.
- Highlights:
- No collateral required.
- Based on future earning potential.
- Covers tuition and part of living expenses.
- Best for: Students without co-signers or collateral.
Average Loan Costs in Australia (2025)
- Bank loans: 7% – 12% annually.
- International lenders: 8% – 15%.
- Repayment terms: 5 – 15 years.
💡 Example: A loan of AUD 40,000 at 9% interest for 10 years = monthly repayments of ~AUD 507.
Tips for Securing a Study Loan
- Start early – Apply 3–6 months before intake.
- Check university tie-ups – Some schools partner with banks for student loans.
- Compare rates – Look at APR, not just EMI.
- Check for moratorium periods – Repayment after graduation eases stress.
- Borrow smartly – Take only what’s needed to reduce long-term debt.
Final Thoughts
Studying in Australia is life-changing, but costs are high. Thankfully, providers like CBA, ANZ, NAB, and Westpac support students locally, while SBI and HDFC Credila assist Indian students. If you don’t have a guarantor, Prodigy Finance is a great global option.
The best loan depends on your background, repayment ability, and study goals. With the right financing, you can focus on your education instead of financial worries.