Education Loan for MS in Australia Through GoStudy

Soar the skies and unlock aspirations with the best education loan for MS in Australia through GoStudy from one of the best platforms available right now!

Are you on the lookout for an education loan for a Master's in Australia through GoStudy to fund your studies? Well, this can be one of the most excellent sources of funds for you to finance your education abroad and turn your dreams into reality. You can choose GoStudy's exclusive loan products from some of India's leading banks and financial organisations for the best and most hassle-free loan procedure. We ensure that you get the most competitive deals in the market. Our teams in Bangalore, Chennai, Trivandrum, Cochin, Pune, Hyderabad, Delhi, Coimbatore, and Mumbai offer you everything you might be looking for.


9

Factors That Get You an Education Loan for MS in Australia through GoStudy

1

Strong Academic Profile

A great academic profile improves your eligibility to get an education loan for MS in Australia for Indian students through GoStudy.

2

Your Choice of the Best University

The university you choose for your MS in Australia can also make or break your chances of availing an education loan for Master's in Australia for Indian students through GoStudy.

3

Programme with Good Job prospects

GoStudy covers 90% of the most lucrative and prospective postgraduate courses, which will increase your chances of availing the best education loan for Masters in Australia through GoStudy.

4

KYC in Place

With GoStudy, you can avail of the best education loan for MS in Australia based on your KYC. So, you must have it in place.

5

Decent Income of the Co-Applicant

The co-applicant you offer for the loan should have a decent income to improve your chances of loan approval.

6

Collateral to Provide Security

If you want to avail of an education loan for MS in Australia through GoStudy within the most affordable rates of interest, you must ensure having collateral to provide as security.

7

Good Credit Scores

Get a co-applicant with good credit history to instantly sanction your education loan in India for MS in Australia through GoStudy.

8

Future Focused Loan Sanction

At GoStudy, you get an education loan for MS in Australia based on your prospects, not just your financial profile.

9

Low Rates of Interest

At GoStudy, it is also possible for you to get an education loan for Masters in Australia at the lowest rates of interest.


Worried about
  • Educational Loan
?
Get Assistance for
Free

or


Unsecured Education Loan for MS in Australia Through GoStudy

An unsecured education loan for MS in Australia through GoStudy is where you do not need to pledge any collateral. NBFCs, private banks, and other major lending organisations offered unsecured education loans. This non-collateral education loan for Masters in Australia through GoStudy will be the right source of finance for you if you do not have any assets to pledge as collateral security. However, you need to fulfil the lenders' specific requirements to get your best education loan for MS in Australia through GoStudy approved. Meeting the eligibility requirements for the best education loan for Masters in Australia through GoStudy without collateral and all documents required is important as you are not pledging any security against the loan amount.

Since no collateral is involved in these education loans, the banks' eligibility criteria are stricter than those set for secured education loans for MS in Australia through GoStudy. The repayment period for such loans is 10 years, while loan processing takes around 7 to 10 days. First, you need to provide the income proof documents of your co-applicant along with documents like mark sheets and degrees, enrolment letters, bank statements of the co-applicant, and KYC documents of both the borrower and the co-applicant.

Education loan for MBA in France Without Collateral
Education Loan for MS in Australia

Interest Rate for Education Loan for MS in Australia Through GoStudy

An education loan in India for MS in Australia through GoStudy through GoStudy is one of the best ways to pursue a Master's in Australia without disturbing your finances. In most cases, you need to have your parents or guardian as the guarantor or co-applicant for the loan since you are still a student with no decent source of income by which you can repay the loan. The loan's interest rate is the amount of money the lender charges on the principal loan amount. Simply put, the interest rate on your education loan for MS in Australia through GoStudy is the cost you have to pay for borrowing money from the bank or any other financial institution. This interest is the monthly instalment you need to pay above the principal amount of your loan. The interest rate on your education loan for Masters in Australia through GoStudy is crucial because even a slight variation in this category per annum can significantly affect the total amount you need to repay.

Below, you will find a list of interest rates offered on an education loan for Masters in Australia through GoStudy:

Type of Education Loan

Education Loan Rate of Interest As Per Market

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% 9.5%
Unsecured Education Loan (Others) 11.75% 11.50%

You can use an EMI calculator online to check the EMI amount you need to pay every month against the principal amount of your education loan. Moreover, you can also use the following mathematical formula to calculate EMI based on the rate of interest on your unsecured education loan for MS in Australia through GoStudy

Furthermore, the following mathematical formula is used to calculate the EMI based on the interest rate for Education Loan for 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 Covered in an Education Loan for MS in Australia Through GoStudy?

An education loan for MS in Australia for Indian students through GoStudy comprehensively covers all the expenses of studying Master's in Australia. These will include accommodation, travel, and food expenses, along with tuition fees. Your financial organisation will take care of your requirement in every way possible. You can have GoStudy at your disposal to help you with an education loan that will cover all the expenses of studying Master's in Australia. Below, you will find the list of all the costs covered in an education loan for Master's in Australia for Indian students through GoStudy:

  • Tuition fees payable
  • Library, laboratory, and examination fees
  • Hostel charges and accommodation
  • Costs incurred on purchasing books and other supplies like uniforms and equipment, such as computers or laptops.
  • Travelling expenditures
  • Money used as a refundable deposit, building fund, and caution deposit
  • Other expenses you need to incur to complete your MS course in Australia. These include project work, thesis, and study tours.

As a student, you can get an education loan in India for MS in Australia through GoStudy of up to Rs. 50 lakhs for the majority of the universities in Australia. However, your loan approval and sanction will depend on your chosen university in Australia, your academic profile, and the employability potential of your MS course. You can make the entire procedure transparent and free of all hassles by availing of the services of GoStudy. Our representatives will take good care of your requirements in the most efficient manner. Here is a complete list of the lending organisation that offers the best education loan for Masters in Australia through GoStudy:

  • IDFC First Bank
  • ICICI Bank
  • Axis Bank
  • HDFC Credila
  • Avanse
  • Auxilo
  • Incred

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)

Collateral for Education Loan for MS in Australia Through GoStudy

Collateral or secured education loan for MS in Australia is where you can pledge different types of assets as collateral security against your loan amount. Public banks and government banks are the biggest lenders of these loans. Secured education loans offer some of the most advantageous education loan plans for individuals looking to borrow money to finance their Masters in Australia. Since you are pledging collateral as security against your loan amount, you can avail of a secured education loan for Masters in Australia through GoStudy at the lowest interest rates, along with flexible loan repayment plans and a payment-free moratorium period.

A collateral education loan is the best education loan for MS in Australia through GoStudy because it is safe, easy, and highly affordable. The financial assets you can provide as collateral to your lender include tangible assets like flats, houses, non-agricultural land, or any other similar structure or intangible assets like government bonds, insurance policies, and fixed deposits. These loans are available with loan repayment tenure of 10 to 15 years, with the loan amount being disbursed in 15 to 20 days. Even though these loans cover all expenses of pursuing an MS in Australia, a lack of proper documents can lower your chances of obtaining a secured education loan for Masters in Australia through GoStudy. Common documents required to avail of a secured education loan for MS in Australia for Indian students through GoStudy include KYC documents, academic records, the fee structure of the university in Australia, and an admission confirmation letter.

Note that if you are going for a collateral education loan for Master's in Australia for Indian students through GoStudy, your loan amount will depend on the value of the collateral you pledge as security against the loan amount, not on your choice of university or MS course in Australia.


Worried about
  • Educational Loan
?
Get Assistance for
Free

or


University-Wise Pre-Approved Amount for Education Loan for MS in Australia Through GoStudy

Several financial institutions and banks in India offer the best education loan for MS in Australia through GoStudy. Australia has some of the leading and highly recognized universities known for their quality education and advanced infrastructure. Moreover, according to QS World University Rankings, some universities in Australia rank amongst the 100 best universities worldwide. The cost of studying for a Master's and even living in Australia is highly affordable. Australia is considered the next hot destination after the United States considering the living conditions, quality, and a number of universities.

Below is the list of universities in Australia that have been pre-approved by banks for the best education loan for Masters in Australia through GoStudy:

List of Universities accepted by Education Loan through GoStudy

GoStudy’s Pre Approved Education Loan Amount

Monash University 35 Lakhs (Approx)
RMIT University 35 Lakhs (Approx)
The University of Western Australia 30 Lakhs (Approx)
University of Queensland 30 Lakhs (Approx)

Co-Applicant for Education Loan for MS in Australia Through GoStudy

A co-applicant is also known as a cosigner or co-borrower who co-signs your loan application and bears the responsibility to repay the loan amount if, in any case, you cannot repay the loan amount. At the same time, the bank lending you an education loan for Master's in Australia for Indian students through GoStudy also wants someone back in India to contact for any information while you are away for your MS studies in Australia.

The co-applicant of your loan application must be from India. Note that the co-applicants liability is co-extensive with you, the borrower. Your co-applicant must also provide documentary proof to show their relationship with you. Below is the list of accepted co-applicants for education loans for MS in Australia for Indian students through GoStudy:

  • Parents
  • Siblings
  • Parents-in-law
  • Spouse
  • Paternal uncles and aunts
  • Maternal uncles and aunts

Eligibility Criteria for Education Loan for MS in Australia through GoStudy

Banks in India like offering education loans for Masters in Australia through GoStudy at low-interest rates to brilliant students. Therefore, the most basic eligibility requirement for an education loan for MS in Australia through GoStudy is academic excellence and some of the greatest achievements. Other important eligibility requirements for an education loan for a Master's in Australia for Indian students through GoStudy include:

  • The applicant ought to be an Indian inhabitant between 18 and 35 years of age.
  • They must have completed or are undergoing a graduate degree from a recognized university.
  • The candidate should have secured confirmed admission to a recognized university in Australia with an admission letter to prove the same.
  • Students into full-time MS courses in Australia need a co-applicant to avail of the best education loan for Masters in Australia through GoStudy.

TOO MANY QUESTIONS?


Documents Required for Education Loan for MS in Australia through GoStudy

The best education loan for MS in Australia through GoStudy is available only to those candidates who can satisfy the eligibility requirements for the loan and also submit the documents required to avail of the loan. Since an education loan is an important requirement for a student looking to complete their Masters in Australia, banks and other lending organisations provide these loans with quick and hassle-free approval. To ensure a swift and smooth loan approval process, you need to keep the following documents handy:

  • Duly filled-in application form
  • Admission letter from the university of choice in Australia
  • Aadhaar card, passport, voter ID card, or driving licence as Identification proof
  • Residence proof
  • Co-applicant's income proof
  • Photos of both the borrower and the co-applicant
  • Academic documents of the student
  • Photo ID of both the applicant and the co-applicant
  • Financial statement of the co-applicant
  • Documents of immovable property if you are going for a collateral education loan for MS in Australia through GoStudy.

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

Once you have successfully secured admission to a university of choice in Australia, your next step is arranging for the funds you need to meet all your education expenses. You can start by checking your eligibility criteria and the most suitable bank to avail of an education loan for Master's in Australia through GoStudy. Once you are done, start filling in your loan application form with the correct details. Make sure to provide all the details correctly so that your loan application form does not get rejected in any circumstances. Next, check all the documents you need to submit along with the loan application form and complete the process of applying for the loan.

Once the process is complete on your end, your chosen lending organisation will review your loan application form and accompanying documents. And once they find everything fine, they will approve your loan amount and sanction the letter of agreement.

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

The next procedure is to go through the terms of the loan agreement carefully and then sign it. Now request an application for loan disbursement at your bank, and your lender will disburse the same in 7 to 10 days.

Moratorium Period for Education Loan for MS in Australia through GoStudy

In simple terms, the moratorium period is the break you receive in your loan repayment period from your lender. This means that you are not required to start repaying your education loan for MS in Australia through GoStudy immediately after loan disbursement. Thanks to the moratorium period, you can start the EMI and interest repayments of your loan after successfully completing your MS course in Australia.

Besides this, you can even avail of an extension of 6 months of the loan moratorium or grace period if you cannot find a good job after completing your MS course. This way, you get the much-required breathing space as an education loan for MS in Australia for Indian students through GoStudy has a lot of worry and stress.

The different types of repayment options available for an education loan for MS in Australia for Indian students through GoStudy include:

  • Partial Simple Interest
  • Simple Interest
  • EMI
  • Full Moratorium period

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

Considering the rising expenses of higher education, you might spend a huge amount of money meeting the same. If, at all, you are willing to avail of an education loan for Masters in Australia through GoStudy, ask for a deduction under Section 80E of the Income Tax Act 1961. This tax exemption offers relief to taxpayers who incur high education expenditures and need to go for a loan to meet such expenses.


DOWNLOAD Simple & detailed comparison sheet of all Education Loan offered by all government & private banks and NBFC’s to study abroad.

  • Consultant Syed
  • Consultant Jagannadh
  • Consultant Mohit
  • Consultant Arjun
  • Consultant Steffi
  • Consultant Prajakta
Status

150+ Loan Specialist to help you

Free
Education Loan Guidance

3X Loan Approval chances

100% Unsecured Education Loan

100% Loan Without Income Proof

7.65% - Lowest Interest Rate

Save INR 4,00,000 with us

Get your doubts clarified now

1

150+ Education Loan Experts Online

FREE Expert Loan Guidance

  • Lowest Interest rate
  • Full Moratorium
  • 100% Unsecured Loan
  • 3X Loan Approval Chances
  • 100% Funding
  • Loan without parents income