Have you visited Australia to pursue undergraduate or postgraduate degrees and are looking for a personal loan? Since you are not a native of Australia, you might encounter a few hindrances. But no need to worry because Online Assignment Expert will provide you with important details on how an international student can get a loan in Australia.
Eligibility to Get Personal Bank Loan For International Students in Australia
In Australia, there are three ways where you can apply for international student loans. The sources are – University, Government banks, and private banks.
Students must know that they cannot avail loans from government banks but can get it from those which are privately owned. Now, the first question that hits the mind is “how can an international student get a loan in Australia?”. You can check the eligibility criteria for the banks before applying for a personal loan.
Eligibility For Private Banks
- Must have an Australian visa. Every student has this visa because they are or about to study in Australia.
- You must be a full-time student at an Australian university.
- You must submit a proof for a regular source of income. The monthly allowance from parents is not considered.
- Submit the bank account details of an Australian bank.
Eligibility For University Loan
- Check whether the university offers personal loans to students or not.
- Must be a full-time student.
- Must have equal to or more than 18 credit points in one semester or 36 credit points in an academic year.
- The student must have a part-time job.
- First or final semester students cannot apply for personal loans.
Types Of Personal Loans Students Can Apply For In Australia
Here are the different types of personal loans an international student can avail of in Australia:
A graduate loan can be availed by the students who are at the end of their graduation. This loan is only offered to students who are in the final year of the graduation degree.
General Purpose Loan
A general-purpose loan is offered either by the private banks or by the university. This loan is utilised to cover other interests than education. For example – the money required to travel to work, the cost of living, and more. There are universities that offer a loan up to $8000.
Secured and Unsecured Loans
Secured personal loans let a student borrow against the asset like car, land, building and in return, you need to pay a lower interest rate. If we talk about unsecured loans, then you have to pay a much higher rate of interest against these loans.
Remember That Getting a Loan Require Good Academic Grades!
You must have good academic grades to apply for personal loans in Australia and easily get approval. Writing quality assignments can become challenging due to a number of reasons thereby, making you score the eligible grades for loans even tougher. So, what’s the need to take the risk when there’s an assignment helper available nearby!
Simply avail academic assistance from Online Assignment Expert. You will get the best assignment help services for each subject whether it is management, law, nursing, marketing, economics or any other. With our assignment writing experts, you will enjoy hassle-free assignment deliveries at reasonable prices right when you need them. Now, scoring will certainly become easier for you!