Education Loan for Masters in Australia Without Collateral through GoStudy

Fund your dream career and earn brilliant employment with an education loan for Masters in Australia without collateral through GoStudy.

Universities like the University of Melbourne, Sydney University, Monash University, are ideal for meritorious students. Education loans for Masters in Australia without collateral through GoStudy can eliminate all your funding concerns. At GoStudy, we help with unsecured education loans for MS in Australia through GoStudy. Our branches in Mumbai, Bangalore, Delhi, Pune, Hyderabad, Chennai, Cochin, Trivandrum etc, are always open for you.


9

Factors That Can Get You An Education Loan for Masters in Australia without Collateral through GoStudy

1

Excellent Academic Profile

Students need an excellent profile in academics with proven credentials to procure an education loan for Masters in Australia without collateral through GoStudy.

2

University Choice

University choice can determine how much education loan for Masters in Australia without collateral through GoStudy you can procure.

3

Future Focused Programmes

GoStudy has under its belt 90% of the most popular programs from Australia universities in regards to employment opportunities.

4

Extensive Opportunities in Australia

An ocean of opportunities are what Australia offers you, and we aid you with education loans for Masters in Australia without collateral through GoStudy.

5

No Income Proof Required!

Judging your KYC, you can easily procure non-collateral education loans for Masters in Australia through GoStudy.

6

Easy Sanction & Disbursement

No more hectic and complicated loan formalities as GoStudy helps with the fastest and simplest disbursement.

7

Comprehensive Education Loan Product

GoStudy has introduced numerous education loans for Masters in Australia without collateral to save money and pump your dreams.

8

Highly Knowledgeable & Expert Team

Our expert team will ensure you get the best of the offerings to cater to your personalized needs.

9

Lowest Interest Rates In The Market

GoStudy, gives you access to cheaper interest rates as low as 0.5% - 1% lower than the market rates!


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Unsecured Education Loan for Australia through GoStudy

The drastic increase in educational costs and living costs abroad have led most talented students in India to seek education loans, and since then, education loans have been an integral part whenever it comes to studying abroad. To meet the funding requirements for studies, living, fooding, and education materials purchase, it is very important to opt for a reliable education loan. Our main goal at GoStudy is to ensure you get the best of many comprehensive educational loans so that your studies abroad are uninterrupted. Australia has been one of the most preferred educational destinations for immense opportunities and massive future prospects.

However, the main concern while opting to pursue studies at dream destinations abroad like Australia is the tedious loan process. Most financial lenders will require you to pledge any immovable property or assets to qualify for the loan as security. This is where most students are unable to accomplish their dreams. Now, here is where GoStudy plays a crucial role. With GoStudy, you do not have to pledge any assets as collateral for an unsecured education loan for MS in Australia. We have partnered with many NBFCs and banks who always assist you in fetching an education loan for Masters in Australia without collateral through GoStudy that fits your bill. The expenses covered under the education loans are comprehensive, and range from Tuition fees to accommodation, traveling, fooding, hostel fees, and many other expenses you may incur abroad. Students can easily qualify for an education loan to study MS in Australia without collateral through GoStudy to cater to all their financial requirements whilst pursuing their study abroad.

While the above-mentioned expenses are the primary ones, those are not the only expenses you will have to bear. A good Education loan for MS in Australia without security through GoStudy will compensate for other costs such as the purchase of gadgets, shopping for study materials before leaving, and other miscellaneous travel costs prior to traveling or whilst studying there.

Education Loan for Masters in Australia Without Collateral
Education Loan for Masters in Australia Without Collateral

Interest Rate For Education Loan for Masters in Australia Without Collateral through GoStudy

An interest rate is a fraction of money that is charged on the repayment of your loan whenever you seek any kind of loan from a financial institution. When the lender disburses an Education Loan for Masters in Australia without Collateral through GoStudy for your educational requirements, the interest rate is placed on your loan repayment. The credit profile, income ratio, co-applicant income, and creditworthiness can determine the interest rate for an education loan for Masters in Australia without security through GoStudy. Interest rates of an Unsecured education loan for Master's in Australia through GoStudy are always on the higher side compared to that of a secured loan. At GoStudy, we ensure that our financial partners offer you the best interest rate terms on your loan so that your education is always secured and safe. Our experts ensure that all your queries for an Education Loan for Masters in Australia Without Security through GoStudy are answered well and taken care of delicately.

The interest rates of a Non-Collateral Education Loan for Masters in Australia through GoStudy are very flexible and may change over time depending on the course profiling and credit due. A simple interest rate with a monthly figure is used to calculate the interest rate for unsecured education loans.

Below is the interest rates the are offered for education loan for Masters in Australia without Collateral through GoStudy:

Type of Education Loan

Australia Education Loan Rate of Interest As Per Market

Australia Education Loan Rate of Interest Through GoStudy

Secured Education Loan (USA) 9.5% 9.25%
Unsecured Education Loan (USA) 10.25% 10.00%
Secured Education Loan (Others) 9.5% 9.25%
Unsecured Education Loan (Others) 11.75% 11.50%

Moreover, the below mathematical formula is improvised for determining the EMI based on the interest rate for Education Loan for Masters in Australia without Collateral through GoStudy:

EMI = [Principal Amount x Rate of Interest x (1 + Rate of Interest) Tenure*] / [(1 + Rate of Interest ) Tenure* - 1]

*Please note that the tenure is calculated in months.

What are the costs that are covered in an education loan without collateral in Australia through GoStudy?

An education loan for Masters in Australia without collateral through GoStudy can cover all the major and miscellaneous expenses in Australia while you’re studying there. The expenses include academic costs, rent and accommodation, education costs, traveling, gadget buying, fooding, lab fees, and other education-related costs. Our trusted financial partners ensure that all your funding requirements are met right on time so that you do not have to go through any kind of hassles while studying there. Below is a list of costs that are covered by non-collateral education loans for Masters in Australia through GoStudy:

  • Living Expenses
  • Book expenses
  • Laptop or Desktop
  • Travel Tickets
  • Health Insurance
  • Electronic Gadgets
  • Application Expenses
  • Competitive Exam Charges
  • Visa Application Fee
  • Tuition Fee

In general, a talented student can qualify for an Education Loan for Master's in Australia Without Collateral through GoStudy up to 50 Lakhs for the majority of the universities covered in Australia. Nevertheless, some factors such as the credit profile, course attended, and the employment prospects post-completion are responsible for the final decision in sanctioning the loan.

Following are the lists of the Costs Covered by Avanse Education Loan through GoStudy:

Things covered under Education Loan through GoStudy

Costs Covered by Education Loan through GoStudy

Tuition Fees 0 - 65 Lakhs (Approx)
Living Cost 6 Lakhs - 15 Lakhs (Approx)
Travel Expenses 20,000 - 40,000 Rupees (Approx)
Others (Books/Uniforms/Computers) 80,000 - 1,50,000 Rupees (Approx)

Unsecured Education Loan for ms in Australia through GoStudy

You have the maximum chance of qualifying for an Unsecured Education Loan for ms in Australia through GoStudy if you have a strong financial portfolio and can acquire an offer letter of admission from any of the top Australian universities. An essential criterion for the education loans for Masters in Australia without collateral through GoStudy is the course or program you are attending, and the probable employment prospects post the completion of the course. Unsecured Education Loans for ms in Australia through GoStudy can bag you a higher loan amount of up to 50 lakhs, but that is very much dependent on the creditworthiness and academic profile of the student. The creditworthiness of a student in the case of a Non-Collateral Education Loan for Masters in Australia through GoStudy decides on the final loan sanction quantum and disbursal. Remember, the better your credit score is, the higher your chances of securing an Education Loan Without Collateral for MS in Australia through GoStudy.

The below list of documents is required for students to initiate the Non-Collateral Education Loan for Masters in Australia through GoStudy process:

  • Confirmed Offer Letter for Admission
  • Co-Applicant and Income proof, however income proof may not always be needed
  • PAN Card
  • Academic Certificates and Papers
  • IELTS/TOEFL/PTE/English Language Scorecard, if any
  • Valid Passport

The requirements or criteria for a Non-Collateral Education Loan for Masters in Australia through GoStudy may depend on the individual profile of the candidate, but the entire process is made completely hassle-free, smooth, and trustworthy by the financial partners of GoStudy.

Collateral For Education Loan for Masters In Australia through GoStudy

With GoStudy right behind you at every step in procuring a GoStudy partnered unsecured education loan for MS in Australia, you never have to deal with any hectic or complicated loan process and legalities involving collateral loans. However, to give you the right information, below is a list of collateral that is accepted by lenders for education loans in Australia. Let’s dabble in!

Any form of immovable property or assets that a financial lender accepts and is then pledged as a security against the disbursed loan is known as collateral. Depending on the individual profile of the candidate, the type of assets for the collateral or secured loan may vary. If you cannot qualify for an Education Loan for Master's in Australia without Collateral through GoStudy, opting for this secured loan is the only option you will have. For students who are not able to qualify for an unsecured education loan for ms in Australia through GoStudy, they can check for these documents, which are accepted as collateral loan documents:

  • House/Flat/Apartment - A residential property with no obligations or outstanding loan on its name
  • Personal property with no dues or repayments
  • Fixed Deposit in a NBFC or Bank, along with the letter of the manager guaranteeing it against the education loan for Masters in Australia without collateral through GoStudy.
  • Surrender Value of Life Insurance equivalent to the loan amount sanctioned
  • IA non-agricultural land within legal parameters

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University-Wise Pre-Approved Amount for Unsecured Education Loan to Study in Australia through GoStudy

Students can easily qualify for unsecured education loans for Masters in Australia through GoStudy from several banks and NBFCs in India who offer impressive schemes due to the rising demands of education loans. Australia counts 20% of the top global universities where you can carry your study worry-free, and hence, major financial lenders are comfortable in offering you the desired loan amount to fund your requirements. Every year, a whopping number of students counting to 200,000+ opt to study in Australia, and hence, you will never fall short of lenders offering an Education Loan for Masters in Australia Without Collateral through GoStudy. The below list of universities is pre-approved by multiple banks for an unsecured education loan for Masters in Australia through GoStudy

List of Universities accepted by Australia Education Loan through GoStudy

GoStudy’s Pre Approved Education Loan Amount for Australia

Monash University 50 Lakhs (Approx)
RMIT University 50 Lakhs (Approx)
The University of Western Australia 45 Lakhs (Approx)
University of Queensland 45 Lakhs (Approx)

Co-applicant for Australia Education Loan for Masters Without Collateral through GoStudy

Qualifying for an unsecured education loan for Australia through GoStudy requires you to keep a co-applicant while filling out an education loan application. Even though you have substantial assets, surplus funds, and a strong financial background, lenders will still ask for a co-applicant to sanction the loan. This is owing to the reason that when the candidate is out for study, they have no income sources; hence a co-applicant will secure the funds lent. The key parameters leading to the successful creditworthiness of a co-applicant are their age, income ratio, relation to the applicant, and credit score.

In precise words, co-applicants act as a form of security to the lenders wherein if the candidate is unable to repay back or default, they will be able to repay the loan on behalf of the applicant.

Below is the list of co-applicants for Non-Collateral Education Loan for Masters in Australia through GoStudy that is accepted:

  • Parents
  • Parents-in-law
  • Spouse
  • Siblings
  • Maternal Uncles & Aunts
  • Paternal Uncles & Aunts

Eligibility Criteria For Education Loan for MS in Australia Without Security through GoStudy

Non-Collateral Education loans for Masters in Australia through GoStudy have simple requirements and convenient eligibility, which students can easily qualify for. To qualify for the eligibility requirements for an unsecured education loan for Masters in Australia through GoStudy, students should have a firm/unconditional/confirmed offer letter from a top Australian university. This confirms the student has successfully met all the requirements for getting admission to their preferred university in Australia and that the offer will not be revoked under any circumstances. Other requirements along with these for education loans without collateral for ms in Australia through GoStudy are as follows:

  • Indian Citizen of 18 years age.
  • Has a valid co-applicant or a co-borrower, employed in India or abroad or Self-employed. The co-applicant should be a legal guardian or any siblings.
  • CIBIL or Credit score for an education loan without collateral for ms in Australia should be in accordance with the requirements

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Documents required for Education Loan for Masters in Australia Without Collateral through GoStudy

USA Education Loan for Masters in Australia Without Collateral through GoStudy comes with an easy documentation process varying for individual students, but mostly remains the same for all. Our experts at GoStudy ensure everything is smooth, and the process seems flawless like a pie. Below documents required for an Education Loan Without Collateral for ms in Australia through GoStudy are as follows:

  • KYC of the candidate
  • Student’s Academic Documents
  • Course Details & Structure of Fees
  • Confirmed Admission Offer Letter
  • Co-Applicant’s KYC
  • Co-Applicant’s Income Proof
  • Income Tax Returns of Student - 3 Years (If Applicable)
  • Income Tax Returns of Co-Applicant - 3 Years
  • Proof of Birth Documents
  • Proof of Relationship with Co-Applicant
  • Bank Statement for Months of Co-Applicant

Other than the aforementioned list of documents, extra documentation may be needed depending on the sole discretion of the provider for a Non-Collateral Education Loan for Masters in Australia through GoStudy.

Process & Procedures For Unsecured Education Loans for Australia through GoStudy

Thousands of students every year fill out applications for an Education Loan for Masters in Australia without collateral through GoStudy. The increasing urge has led to many opportunities and offers from different lenders providing Education Loans for Masters in Australia Without Collateral through GoStudy. Unsecured Education Loan for Masters in Australia through GoStudy comes with an easy application process which begins with the student applying for the loan amount, providing details of the education course, university details, and all other important details to the financial lender. A thorough identity of the lender is required to be provided to the institution.

After the first round, banks perform checks, after which they send you a detailed loan offer letter with the necessary list of documents required to sanction the loan. Education Loan for Masters in Australia Without Collateral through GoStudy comes with a processing time of very short 5-7 days. When a detailed review is done and the agreement is signed, the loan-sanctioned amount will be sent via DD, cheque, or electronic account transfer.

Sanction & Disbursement of Education Loan Without Collateral for Australia through GoStudy

When the loan approval process is done, a detailed letter with the applicant information, co-applicant info, loan amount, rate of Interest, loan tenure, monthly EMI, moratorium period, details of guarantor (if any) details, college or university name, and course name is mentioned. It will also affirm all the agreed terms and conditions of the loan tenure. Universities accept a full-sanctioned letter instead of an in-principle letter, so you need to take note of that.

Post the sanction of the Education Loan for Masters in Australia Without Collateral through GoStudy, the sanctioned amount is disbursed to the account of the applicant/co-applicant or to the university account as tuition fees, depending on the terms agreed upon while signing the agreement. The amount is transferred in INR, which can be part disbursement or full disbursement of the loan based on the protocols set between the lender and borrower.

Moratorium Period For Education Loan Without Collateral for Australia through GoStudy

The moratorium period is a tenure post the sanction of the loan where the candidate need not repay EMI for the loan amount. Almost all banks & NBFCs offer a moratorium period for an unsecured education loan for Masters in Australia. Alternatively, one common practice is to start paying a basic simple interest against the loan until the education period is over and you are employed within a set frame of time. Hence, always understand the moratorium period and check it before proceeding with the loan.

Repayment for education loan for Masters in Australia without collateral through GoStudy

The repayment period for an education loan for Masters in Australia without collateral through GoStudy is very easy, and you have the freedom to choose it in accordance with your convenience, which can generally be from 12 months to 180 months. You always have plenty of options to choose the period as per your convenience and feasibility. If your finances are weak, then the lender will decide the repayment period for you.

The various types of repayment options for Non-Collateral Education Loans for Masters in Australia through GoStudy:

  • Partial Simple Interest
  • Simple Interest
  • EMI
  • Full Moratorium period is not offered by Avanse

Tax Benefit For Unsecured Education Loan for Australia through GoStudy under Section 80E of IT Act

In accordance with Section 80E of the IT Act, you can get tax exemption on the entire EMI deduction for education Loan for Masters in Australia Without Security through GoStudy in that certain fiscal year. Spouses, siblings or legal guardians taking liability for Australia Education Loan Without Collateral for Masters in Australia through GoStudy can claim these benefits. The deduction is allowed on all the courses, and there is no cap on the number of tax benefits you can claim, but you must ensure the loan repayment is made within 8 years of interest repayment. Timely repayment makes you eligible for the tax benefits under this section.


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