Australia Cost & living - Education loans
15 questions
Expert Answers
Is pursuing a master's in Management or Finance in Australia funded by a study loan a reasonable path for a B.Com graduate?
→It can be reasonable, but your specialisation matters more than the loan itself. Total costs run near AUD 80,000 to 115,000 over two years, roughly Rs 45 to 65 lakh, against starting salaries of AUD 70,000 to 95,000. Specialised finance degrees clear hiring and PR routes far better.
Is it realistic to fund an Australian graduate-entry MD program via a large education loan while working part-time as an international student?
→No, this is not realistic. Australian medical school costs roughly AUD 350,000 to 420,000 in tuition over four years, plus living costs, while your visa caps part time work at 48 hours a fortnight. That yields only about AUD 28,000 to 31,000 a year, nowhere near enough.
Is it wise to continue a cybersecurity master's at a regional Australian university despite loan debt and job market doubts?
→It depends on how far you have progressed. If you are more than halfway through, finishing usually gives a better return than dropping out while still carrying the debt. Regional universities also offer extra migration points and extra years of post study work rights, offsetting a soft job market.
Is a University of Melbourne economics degree worth a large education loan compared to studying at Delhi University instead?
→No, borrowing over one crore rupees for a Melbourne economics degree is not worth it against Delhi University's near zero cost. A one crore loan grows to about 1.21 crore by graduation, needing a monthly EMI near 1.63 lakh to service comfortably.
Is a large education loan for a Master of Pharmacy in Australia worth it for a hospital pharmacist career?
→It is high risk but high reward. Total debt can reach AUD 120,000 to 150,000, roughly 65 to 85 lakh rupees, while hospital pharmacist salaries start near AUD 80,000 after your internship year. Regional placements pay more and clear the loan faster.
Can an unused education loan be refunded before a university tuition refund is processed after an Australian student visa refusal?
→No, once your education loan has been disbursed to the university, the bank cannot cancel or refund it early. You must request the university refund, notify your lender, track the twenty eight day legal processing window, then pay off the loan the moment funds return to close it cleanly.
All Questions (15)
Is pursuing a master's in Management or Finance in Australia funded by a study loan a reasonable path for a B.Com graduate?
→Is it realistic to fund an Australian graduate-entry MD program via a large education loan while working part-time as an international student?
→Is it wise to continue a cybersecurity master's at a regional Australian university despite loan debt and job market doubts?
→Is a University of Melbourne economics degree worth a large education loan compared to studying at Delhi University instead?
→Is a large education loan for a Master of Pharmacy in Australia worth it for a hospital pharmacist career?
→Can an unused education loan be refunded before a university tuition refund is processed after an Australian student visa refusal?
→Can I switch my sanctioned education loan for Australia to Canada, and is a loan amount of 40-50 lakh rupees sufficient for a Master's?
→Can you confirm if Australia has any restrictions on accepting NBFC or non-collateral loans for student visas?
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