Financial Assistance for Indian Students in Australia
Studying abroad financially can be a challenge for some of us. There are ways to circumvent the challenge. Loans, scholarships, fellowships, and grants are some of the waiver offers that brings down the pressure of funds or defer paying back.
We have collated some information to bring you to the information than having to hunt for it.
Studying in Australia is relatively cost effective than in U.K or the USA. While the quality of education is at par.
SIEC Career Advisor is up-to-date on all scholarships on offer and the qualifying criteria.
Seek loans provided by your Home Government
Our home government and several other organizations help you study in Australia by granting interest-free loans.
All or most Indian Banks offer education loans. A certain amount is offered without collateral and some with a collateral security.
Some religious or other ethnic groups offer loans as well.
List of banks offering bank loans to Indian students for studying abroad. Every bank has its own criteria and different interest rates are applicable.
|Name of Bank||Rate of Interest per Annum|
|Axis Bank||Special Rate of Interest ranging from 11.0% – 12.5%
Offer valid till July 31, 2017
|Bank of Baroda||10% for loans up to 4 lakhs and 12% for higher amounts|
|Canara Bank||Above 4.00 Lakhs – Studies abroad – 15% & Above 4.00 Lakhs upto 7.50 Lakhs – Satisfactory third party guarantee|
|Credila (HDFC Bank Company)||Up to 4 lakhs no interest above 4 lakhs 15%|
|ICICI Bank||Up to 4 lakhs no interest above 4 lakhs 15%|
|Indian Overseas Bank||above 7.50 lakhs – 11.75%|
|State Bank of India||Prepare your finances, explore scholarships and apply for education loans.|
National overseas scholarships for minorities
This scheme was introduced through the Directorate of Minorities to assist the students of Karnataka State financially. The scholarship helps to pursue studies abroad for Postgraduate, Ph.D., and Post-doctoral course. The government grants 20 lakhs.
The applicant must be the domicile of Telangana state, apply through the official website of Directorate of Minorities. Read more…..
Telangana State Ambedkar Overseas Nidhi Scheme Scholarship
An initiative was taken by Telangana government to encourage the students belonging to ST category for their higher studies abroad. The grant is sanctioned for 10 lakhs .
For PG course: 60% or above in bachelors.
For Ph.D.: 60% or above in Masters
This scholarship can be availed for USA, UK, Australia, Canada, and Singapore.
The J. N. Tata Endowment awards
It’s a one-time loan scholarship provided to students going to study abroad. However, the applicants receive the maximum amount on the basis of their purpose of the requirement.
For: PG, Ph.D., and Post-doc courses.
Value: 1,00,000 to 10,00,000.
Any graduate Indian national from a recognized Indian University with good academic record. The status of the application can be updated by the candidates as the admission is secured.
J.N. Tata Endowment Loan Scholarship is not available to the scholars traveling abroad to attend conferences, seminars, and undergraduate studies.
For the talented achievers, it’s a brilliant scholarship to seek. The vision for Inlaks Foundation is to lead you a path wherein no obstacles are present to achieve your dreams by studying abroad. There are two types of scholarships provided; University specific and course specific. The scholarship amount is 8 lakhs.
People having a postgraduate degree (e.g. Master’s or Ph.D.) from a university outside India are not eligible; those who have started but not completed a postgraduate degree outside India are also ineligible.
K.C. Mahindra Scholarships for Post-graduate study abroad
K.C. Mahindra has been promoting education since 1950’s. The scholarships and grants are provided to the students in need. Their main goal remains constant to empower, enlighten, and make the population more literate in order to bring development economically and socially.
Only students seeking admission for 1st-year Diploma studies this year can apply for Mahindra All India Talent Scholarship (MAITS).
Narotam Sekhsaria Scholarship
The foundation helps you study a postgraduate course in Abroad. There is a facility of obtaining an interest-free loan up to 20 lakhs. Terms and conditions apply.
The Foundation award its postgraduate scholarship to students who want to pursue their studies in Applied Sciences, Pure Sciences, Social Sciences, Architecture, Management, Law, and Humanities from the well-known universities nationally and internationally.
SERB Overseas Postdoctoral Fellowship
This fellowship targets to establish national capacity in the areas of Science and Engineering, there are several kinds of fellowships provided.
Scholarships/ grants in Australia:
Australian government offers several scholarships to international students.
Visit us today for information on various opportunities.
Future of Change India Scholarship
The foremost eligibility criteria; be an Indian citizen, have a goal to study and a reason to require this particular scholarship. The application is easy, all you got to do, create a video testimonial and follow the steps.
Australian Development Scholarship
You are eligible for this if you do not intend to remain in Australia after completion of the education.
The student must be 18 years or above at the time of starting the scholarship.
Citizens from the participating countries (as listed on the Australia Awards website), staying in and applying from their native country.
- Research Training program
This program supports you by providing grants to the students who wish to undergo a Research Doctorate and Research Masters. The RTP stipend ranges from $26,682- $41,682.
CSIRO Postgraduate Scholarship Program
This scholarship is for exceptional students themselves to do a research base course in Science and Technology domain.
CSIRO offers full and top-up Postgraduate Scholarships for periods of up to three years. Opportunities will be offered to high achieving students who are enrolled in a Ph.D. program at an Australian university.
Recipients of Postgraduate Scholarships are generally required to be Australian Citizens or hold Permanent Residency status. However, in fields in which there is a national skill shortage, scholarships may be awarded to overseas candidates, provided they meet Department of Immigration and Citizenship policy guidelines. International students must be able to provide evidence of admission to an Australian university.
Student loans or even known as Education loans are easiest of all the funding options. Keep the below-mentioned factors in mind:
- Tuition Fee for the entire course.
- The amount for which the Loan is required.
- Interest rate; compare the banks and non-bank lenders to save you money.
- The length of the repayment of the loan.
Consider merging support from several sources:
Limiting yourself to one source may not be a great idea. Recent studies show several students have been able to take care of their finances by combining loans, scholarships, and working part-time.
“Earn as you Learn”
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