International Student Loan? Here's How to Secure It Fast (2026)

As an international student in Australia, you might find yourself needing financial assistance to support your studies or living expenses. One common question is whether it's possible to secure a loan while studying abroad. Understanding the intricacies of obtaining a loan as an international student is crucial to navigating your financial journey successfully.

Understanding Loans for International Students in Australia

International students in Australia face unique challenges when it comes to securing loans. Unlike domestic students, who have access to government-supported loans, international students often need to rely on private lenders. It's important to understand that while obtaining a loan is possible, it comes with specific requirements and conditions that need to be met.

Eligibility Criteria and Loan Options

Securing a loan as an international student in Australia requires meeting certain eligibility criteria. Here are some key factors lenders consider:

• Visa Status: You must hold a valid student visa (subclass 500) with sufficient duration remaining on it.
• Credit History: A good credit history in your home country can be beneficial, though not always mandatory.
• Income Proof: Some lenders may require proof of income if you're employed part-time.
• Cosigner: Having an Australian citizen or permanent resident as a cosigner can significantly improve your chances.

Interest rates for international student loans vary widely. As of 2026, typical rates range from 6.49% to 12%, depending on the lender and your individual circumstances.

Esteb and Co, with access to over 83 lenders, can help you navigate these options to find a suitable loan tailored to your needs.

Steps to Secure a Loan as an International Student

Here's a step-by-step guide to help you secure a loan:

1. Research: Start by researching lenders that offer loans to international students. Consider their eligibility criteria and interest rates.
2. Prepare Documentation: Gather necessary documents such as your visa, enrolment confirmation, and any financial statements.
3. Check Your Credit History: Obtain a credit report from your home country to understand your credit standing.
4. Find a Cosigner: If possible, find an Australian citizen or permanent resident willing to cosign your loan.
5. Apply for the Loan: Submit your application with all required documents and wait for approval.
6. Review Loan Terms: Carefully review the loan terms and conditions before signing the agreement.

Expert Tips and Considerations

Here are some tips to consider when applying for a loan as an international student:

• Compare Multiple Lenders: Use platforms like Esteb and Co to compare offers from various lenders and choose the best option.
• Understand the Repayment Terms: Ensure you understand the repayment schedule and any penalties for early repayment.
• Maintain a Budget: Create a budget to ensure you can meet your loan repayments alongside your living expenses.
• Build a Credit History in Australia: If possible, start building a credit history in Australia to improve future borrowing opportunities.

Frequently Asked Questions

Can international students apply for government loans in Australia?

No, government loans such as HECS-HELP are not available to international students.

Is it possible to get a loan without a cosigner?

Yes, some lenders offer loans without a cosigner, but they may require higher income proof or charge higher interest rates.

What happens if I can't repay my loan?

Failure to repay your loan can negatively impact your credit score and may lead to legal actions by the lender.

Are there any alternative options to loans for financial support?

Yes, you can explore scholarships, part-time work, or financial assistance programs offered by your educational institution.

How long does the loan approval process take?

The approval process can take anywhere from a few days to several weeks, depending on the lender and your circumstances.

Can I use the loan for expenses other than tuition?

Yes, loans can often be used for living expenses, textbooks, and other education-related costs.

Will my credit history from my home country affect my loan application?

It can, especially if you're applying to a lender that considers international credit histories.