Education loan for studying in Australia
An Australian master's is commonly two years, so the borrowing sits nearer the US end than the UK end. The distinctive thing here is the Genuine Student requirement, which reads your funding story as part of assessing whether you are genuinely coming to study.
Your funding story is part of the visa
- The loan, the co-applicant's income and the course choice are read together.
- A loan far beyond what the family could plausibly service invites the question the test exists to ask.
- Inconsistency between what you tell the university and what the visa paperwork shows is the problem, more than any single figure.
Keep one coherent account across the admission, the loan and the visa. That is good practice everywhere and it is assessed explicitly here.
Planning the amount
- Size against the full two years, not the first.
- Include living costs, which vary widely between Sydney, Melbourne and smaller cities.
- Account for the visa financial requirement separately.
- Factor in permitted work hours realistically rather than optimistically.
See /visa-guide/australia/financial-requirements and /visa-guide/australia/work-rights before fixing the amount.
Lenders covering Australia
11 lenders from the twelve we list, with the rate each one publishes and how old it is on their own page.
For Australia — FAQs
2 questions
A coherent, documented funding plan helps. A loan inconsistent with the family's circumstances does not.
Size it against the full course length and the city, both of which vary more in Australia than applicants expect.
Not sure which lender fits? A counsellor compares what you would actually be offered across all twelve — free, and with no application.
Sources
Checked against these sources on 1 October 2026.