Education Loan For MBA in Australia Through GoStudy

Studying in Australia has always been preferred to Indian students and what could be better than studying there with the aid of an education loan for MBA in Australia through GoStudy.

GoStudy is India’s leading educational loan provider and consultant and with the aid of supportive professionals, you can make all your career dreams come true. With multiple centers at Mumbai, Pune, Delhi, Bangalore, Chennai, Trivandrum etc, GoStudy can help you with comprehensive education loan schemes for various education loans for MBA in Australia through GoStudy. GoStudy offers the most competitive interest rates on education loans and offers a hassle-free process.


9

Factors That Get You An Unsecured Education Loan for MBA in Australia Through GoStudy

1

Low-Interest Rate

Unsecured education loans for MBA in Australia through GoStudy comes with lower interest rates that are often 1% less than other financial partners.

2

Long Moratorium Period

With GoStudy, students are going to get a moratorium period from 6 months to one year.

3

Multiple Expenses Covered

The best education loan for MBA in Australia through GoStudy is going to cover all your expenses like tuition fees, living expenses, accommodation, insurance, laptops, and much more.

4

No Collateral Loans

With GoStudy, you need not pledge any collateral to the bank against your loan and these non collateral education loans for MBA in Australia through GoStudy are the best.

5

Faster Processing

Education loans for MBA in Australia through GoStudy comes with a lightning loan processing speed and you need not wait long for the funds.

6

Gets your refunds back

Education loans for MBA in Australia through GoStudy offers refundable deposit amounts in association with the trusted financial lenders.

7

Admission to a top Australian university

GoStudy covers the best Australian universities so your employment prospects after the completion of the course are unparalleled.

8

Convenient Loan Product

Education loans for MBA in Australia through GoStudy come with comprehensive schemes that are affordable for students from all financial status.

9

Tax Benefits

Education loan in India for MBA in Australia through GoStudy provides tax exemptions under Section 80E of the IT Act.


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Education Loan for MBA in Australia Through GoStudy

If you are looking forward to studying in Australia, you have made the right decision because Australia houses some of the top universities. Today you do not have to worry about finances because an education loan for MBA in Australia through GoStudy makes it easy to afford education loans. Unsecured loans are offered to students who have a dream of studying in Australia. If students wish to apply to an Australian university through us, we have NBFCs options offering unsecured loans to students. They are safe and cover everything. The Australian embassy pays close attention to the student's finances, and this is why you must house GoStudy for education loans. We make sure that everything is prepared according to the Australian embassy requirements regarding education loan for MBA in Australia for Indian students through GoStudy. There are multiple loan products and even banks with different options for Indian students.

Education Loan For MBA in Australia
Education Loan For MBA in Australia

Interest Rate For Education Loan To Study in Australia through GoStudy

The rate of interest never stays the same and can climb up or go down. The good news is that education loans hardly go up. There are several factors on which the rate of interest depends, like the university you choose, course, financial institution, and type of loan. Secured loans have a lower rate of interest as compared to unsecured loans, student’s academic profiles, etc. With Gostudy, students and their guardians don’t have to worry about burdening their finances by thinking about the rate of interest. We have done thorough research on the rate of interest and have come up with the most affordable ones. We negotiate and then design the best education loan for MBA in Australia through GoStudy packages for aspirants.

Type of Education Loan

Australia Education Loan Rate of Interest As Per Market

Australia Education Loan Rate of Interest Through GoStudy

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

Here is how your rate of interest is calculated:

Rate of interest x current principal balance ÷ 365 days = daily interest The higher the amount of balance on your student loan rate of interest, the more interest is accumulated on a daily basis. GoStudy is a partner with the majority of the reputable banks in India offering education loan in India for MBA in Australia through GoStudy. The rate of interest is usually 12%-14%. Moreover, there are many ways by which you can lower your interest rate. With collateral, you can lower down more digits on your interest rate.

What are the costs that are covered by an education loan in Australia through GoStudy?

You cannot land in a foreign country without being prepared. Australia is where you will get admission to top universities, which means you will need everything to get an education. There are travel expenses, a place to live, tuition fees, and other expenses for which you will need funds. One thing is for sure, and that is 100% of expenses covered.

Tuition Fee: - To get your MBA degree in hand, you will need to pay the tuition fee to the university but not from your pocket. The best education loan for MBA in Australia through GoStudy covers tuition fees. The amount is deposited in the university account from time to time.

Living Expenses: - A student needs expenses to live in a foreign country. There is a set amount for this category, and every month it is deposited in the personal account of the student. The student doesn't even have to ask for the money as it is automatically completed by the lenders.

Accommodation: - No matter whether you choose to live on campus or outside, whatever the accommodation charges are covers it all. GoStudy is aware of the student's needs, and this is how we plan our education loans. We have a total package for you all.

Everything from your minor expenses to big ones, every expense is covered under your education loan in India for MBA in Australia through GoStudy. Other expenses covered are:

  • Tuition fees, examination fees
  • Travel expenses
  • Fees for hostel or private accommodation
  • Caution deposits
  • Study tour expenses
  • Cost of uniforms, stationery
  • Cost of computer/laptop
  • Other expenses

Education loans for MBA in Australia for Indian students through GoStudy can bring you the best loan deals that can get as high as 50 lakhs or even more depending on the profile of the candidate. Some additional factors that decide the loan amount are the university choice, course choice, and post-completion job prospects.

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

Things covered under Australia Education Loan through GoStudy

Costs Covered by Australia 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 Loans for MBA in Australia through GoStudy

If you wish to study in Australia, there are two options available to you, which are secured loans and unsecured loans. The NBFCs are the expert lenders when it comes to unsecured education loans for MBA in Australia through GoStudy. The majority of Indian students prefer taking unsecured loans.

Secured education loan for Australia: - Secured loan is also known as a collateral-based loan that requires assets. If you have a house, commercial property, agricultural loan, FDs, etc., then you can apply for secured loans. Tangible and intangible assets are welcome, and in turn, a student gets rebates on the interest rate.

Unsecured education loans: - education loan for MBA in Australia for Indian students through GoStudy without assets security is called an unsecured loan. In such a case, the only difference is the rate of interest. Because you don't have any collateral to pledge, the rate of interest is going to be a bit high.

GoStudy helps you apply for both types of education loans without any hassle. There are various well-known banks associated with GoStudy offering conventional loans to Indian students. Some of the banks we are partners with are SBI, Auxilo, Credila, HDFC, INCRED, and many others. If you have any particular choice, just tell us, and we will make a bridge between you and the bank. The education loan for MBA in Australia for Indian students through GoStudy terms offered by these banks are convenient. The banks are also gazetted financial institutions ensuring the Australian embassy accepts your application without any hesitation.

Below listed documents are required to initiate the process of obtaining a Non-Collateral Education Loan for MBA in Australia through GoStudy:

  • Unconditional/Firm/Confirmed Offer Letter
  • A co-applicants whose Income Proof is also not required in many cases
  • PAN Card
  • Academic Documents
  • IELTS/TOEFL/PTE/English Language Scorecard, if any
  • Valid Passport

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Collateral For Education Loan for MBA in Australia Through GoStudy

With GoStudy always at your assistance in securing the best unsecured education loans for MBA in Australia, you never need to worry about any complex secured loan legalities and frantic approval processes. Non collateral education loans for MBA in Australia through GoStudy comes with better loan schemes and as discussed before, there are generally two types of education loans. The first one is secured, while the second is unsecured. Let us now discuss all the collateral and associated processes with secured loans for MBA in Australia.

A collateral is a form of loan security offered to the bank while students opt for the education loans. When the student is pledging something to the bank against the sanctioned loan amount such as immovable properties, liquid assets similar to gold etc, that is known as the collateral. However, the financial lender needs to accept the form of assets you keep as a pledge or security against the loan. With GoStudy, the entire loan process is absolutely simple and hassle-free, which is transparent as well. The trusted financial partners of GoStudy ensure students are able to secure higher loan amounts when they pledge something as a form of security to the lender. Collateral loans are always better in terms of interest rates and if you are not eligible for unsecured education loans for MBA in Australia through GoStudy, you need to check out the below documents that are accepted as collateral against the sanctioned education loan amount:

  • House or Residential Property: Any form of residential properties that are under no debt and completely safe under legal parameters.
  • Any nationalized bank or private NBFC certified FD, which the manager needs to authorize as security against the loan amount sanctioned.
  • LIC surrender value that must be similar to the loan amount.
  • Any personal land that is under legal parameters and which is not used for agriculture.

University-wise pre-approved amount for education loan to study in Australia Through GoStudy

Indian students are the 2nd largest global student populace in Australia, and with this, you can guess the popularity. More than 28,000 Indian student VISAs were granted by the Australian embassy in 2021/22. This is all because of the best universities present in Australia. These universities are globally ranked, offering students a secure future. An education loan for MBA in Australia through GoStudy is valid for all the top Australian universities. We include universities that are at the top and offer full student support services. If you wish to avail premium training facilities, world-class education experience, and learn through outstanding skilled teachers, then an Australian university should be your only choice.

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 Education Loan for MBA in Australia Through GoStudy

Every year a number of education loan appeals get rejected not because students are not applicable but because their co-applicant fails. To avail education loan for MBA in Australia for Indian students through GoStudy you will need a co-applicant. There are some requirements that co-applicants have to fulfill, such as

Co-applicants according to NBFCs: - parents/parents-in-law, siblings, spouse, first cousins, parents siblings, brother –in law

Co-applicants CIBIL Score: - it is an important consideration, and co-applicants are required to have 685 to be eligible

ITR documents: - at least the past two years of ITR documents are required

Income/business proof: - last 6 months' timely salary transactions and in case of business GST registration proof or vendor bill

Age/retirement status: - NBFCs accept individuals who are around 60 years of age, not more than that.

Eligibility Criteria for Education Loan for MBA in Australia Through GoStudy

To study at your favorite university, you need to be a valid candidate. Everyone from the university to loan lenders has their eligibility criteria. If you fail to fulfill the eligibility criteria, nothing will be able to help you achieve your dream. To avail of the best education loan for MBA in Australia through GoStudy here are your eligibility criteria requirements

  • You must be above 18 years old
  • You must be an Indian citizen
  • You must have a co-applicant
  • The co-applicant must also be a citizen of India
  • You must have your acceptance letter handy from the Australian university for MBA course

If you fulfill all the above-mentioned eligibility criteria, you can directly approach GoStudy to avail of your education loan in India for MBA in Australia. Further, we will guide you. Documents required for education loan for MBA in Australia Through GoStudy Deserving students have an entire world to conquer, and they can start by taking admission to a top-ranked university. The path of appealing and availing of a loan is very simple. Documents required for an education loan for MBA in Australia through GoStudy are easy to get hands-on. The majority of them are already in your file. Just make sure that you are not skipping even one document, or your appeal can get rejected. Our team is going to follow up with you. They are going to guide you about all the documents and photocopies required. Here is the list of the documents you will need to apply for an education loan for MBA in Australia for Indian students through GoStudy

  • Birth certificate
  • Admission letter from a university
  • Filled out a loan application
  • Cost of study in Australian documents
  • Residence proof
  • Identification proof
  • PAN Card/Aadhar Card/Voter Card
  • Co-borrower's bank statements
  • Co-borrower's income proof
  • Co-borrower's identification proof documents

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Process & Procedures for Education Loan for MBA in Australia through GoStudy

If you are going to choose GoStudy to apply for an education loan in India for MBA in Australia, you will instantly pass through. The process is quite simple and fast. Here is the step-by-step process explained for easy understanding:

Step 1:- Applying to the Australian university
Step 2:- Receive a confirmation letter of your admission and arrange funds
Step 3:- Sending funds to the university and receiving CoE
Step 4:- Going for the visa process

Among these 4 steps, the most important is arranging funds for which you will be applying for the best education loan for MBA in Australia through GoStudy. Once you get the confirmation letter, you have to show it to your GoStudy partner. Along with the enrollment letter, there are a few other documents mentioned above that are required. The process can be completed online. Once every document is submitted, students and their co-borrowers need to sign an agreement. The process of acquiring the best education loan for MBA in Australia through GoStudy is painless and time-saving. In this digitized world, we hardly like to waste anyone's time. Once the student's profile is eligible, it will take 10-15 days to process your loan application. After completing all the formalities, students have to pay the processing fee to avail of the sanction letter. The day the sanction letter comes into your hand, the amount agreed upon is transferred to the required bank account. The process might be simple, but for caution, it is advised that you approach Gostudy for at least one month to apply for an education loan for MBA in Australia for Indian students. It is a precautionary step, and we advise all our students.

Sanction & Disbursement of Education Loan for MBA in Australia through GoStudy

The next step of an education loan for MBA in Australia through GoStudy is the sanction of a letter and loan disbursement. Every document you receive from GoStudy is important and will be added to your profile, even the loan sanction letter. Once you pay the processing fee, you will receive a loan sanction letter from your bank. This document has major details like your loan amount, tenure, interest rate, etc. after getting the sanction letter, the next step is loan disbursement. A loan can be disbursed directly to the university account or your account. The loan can be disbursed in full amount or sent to the university as per semester. Everything is cleared at the time of discussion. Once the loan is sanctioned, students can also receive the full amount of their loan at once. The best education loan for MBA in Australia through GoStudy usually takes 4- 6 months. Just make sure that all your documents are ready and all your fees are paid. Any pending conditions can result in delays in receiving loan sanction letters. GoStudy education loans are fail-safe. We make sure that your loan is sanctioned before your admission date. We also make sure that the loan disbursement happens timely and in the agreed amount. There are no hidden fees or charges. We are in touch with you throughout the entire process making sure no obstacle comes your way.

Moratorium Period For Education Loan for MBA in Australia through GoStudy

It is quite understandable that students need some time to return their loans. Though every top university offers job placements still, things can get delayed for many reasons. In India, students do not have to repay their loans immediately after getting an MBA degree in hand. It is their wish that if they are capable, they must, but if they are not, they can wait, look for a job, ensure their financial security, and then pay the amount. The moratorium period for education loan for MBA in Australia for Indian students through GoStudy is about six months to one year. Students need time to think and get a job of their choice. This takes time.

Repayment of Education Loan for MBA in Australia Through GoStudy

When it comes to repayment options, students can take another sigh of relief. There are different payment options with GoStudy for education loan for MBA in Australia through GoStudy, which makes debt repayment more comfortable for students. The only thing students have to consider is hard work while they are studying abroad. Students can select any time range between 12 months to the entire 180 months for repaying back the loan. Depending on the convenience students can decide, however, for economically weaker students, lenders may fix the tenure.

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

Taking an education loan in India for an MBA in Australia is the best way to fulfill your dream of studying abroad. Another great benefit of funding your education through GoStudy is the tax benefit. Education loans were once lumber, but nowadays, they are a breeze. Students get plenty of options in terms of banks, financial institutions, universities, ROI, repayment tenure, etc. above all, under Section 80E of the India Income Tax Act, there are rebates on education loan for MBA in Australia through GoStudy. No matter which country you are flying to, which course you have opted for, which universities you wish to get indulge in, if you are applicable, you can save a ferrety good amount on your rate of interest. After paying your full principal amount, you can save on interest rates. Parents and guardians who are taxpayers are the ones who avail of this benefit. GoStudy is also going to discuss this entire matter with you so that you understand your benefits before you apply for an education loan for MBA in Australia for Indian students through GoStudy.


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