5 step process to get an education loan to study in australia

1
5-step process to get an education loan to study
in Australia
2

• Have you dreamt of flying to Australia for your
  higher education but are worried about the
  finances?
• Look no further as education loans are ever-ready
  to fund your higher education in Australia.
  Australia is known for its exuberant education
  system that helps the world grow, and sustain
  that growth for a long time. Australia is also
  known for its diverse culture, and its
  infrastructure. Students from different parts of
  the world travel to Australia to pursue higher
  studies. In this article, we will tell you about
  the 5-step process to get an education loan to
  study in Australia

3
Know your eligibility t get an education loan

• The first step the student has to do to get an
  education loan to study in Australia is check
  whether they satisfy lenders eligibility
  criteria. They should know all the criteria
  thoroughly, and gather documents that prove their
  eligibility as per those criteria. Then the
  student has to use an education loan eligibility
  calculator to calculate the maximum loan amount
  they are eligible to get. The student has to put
  appropriate information in the 4 fields of the
  calculator, and press the calculate button. They
  then get the speculative maximum education loan
  amount in the result.

4
Compare different lenders based on the kind and
quality of services they provide

• The student has to compare different lenders by
  reading reviews about them on the internet. They
  should shortlist a few lenders based on these
  reviews. They should learn about the maximum
  money the lenders offer to provide, the expenses
  they will cover, the interest rate they will
  levy, the moratorium period they will offer, the
  repayment tenure and EMI value they will set, and
  so on. Also know whether the lenders provide
  value-added services like doorstep loan service,
  fast-track loan approval, proof of funds,
  pre-visa loans, pre-admission loans, and so on.
  Based on these factors select the most suitable
  lender for financing your study in Australia.

5
Apply for an education loan

• Then the student has to fill the education loan
  application form of the lender. While doing so,
  they should provide correct bits of information,
  and also submit relevant authentic documents to
  the lender. They have to submit the application
  form either online on the lenders website or
  offline at the lenders office.

6
Wait for the sanction and disbursal of the
education loan amount

• The lender will then process their application.
  They will verify the authenticity of the
  information, and the documents provided to them.
  After the verification process, the lender
  sanctions the education loan, and disburses its
  first installment.

7
Finance your higher education in Australia

• Using the money disbursed by the lender, the
  student has to pay the course fee of the first
  semester of their higher education in Australia.
  They also have to open a savings account in an
  Australia-based bank, and deposit 1 years living
  expenses in it, and get a health insurance policy
  for themself as well.

8

• We hope this article was helpful to you.