Australian loans for international students

The UK is an excellent place to study. It is home to a long list of renowned universities, many of which are often ranked among the top universities in the world. Recently the UK government has shown it is committed to attracting more foreign students – and making it simpler for innovative professionals from abroad to call the UK home.  

In July 2020, the UK published a Research and Development (R&D) Roadmap, which listed a number of exciting new policies and changes to support international students. 

In this article we’ll learn more about:  

• The UK’s new “Office for Talent” was created to make the immigration process smoother for skilled students 

• New visa extensions for international students after graduation 

• What this means post-Brexit

What is the Office for Talent? 

The UK’s new Office for Talent has been set up to make it easier for international scientists, researchers, and innovators to work and live in the UK. The team works from Prime Minister Boris Johnson’s office at 10 Downing Street. In the UK, the headquarters is often simply referred to as “Number 10.”  

According to the government announcement, the Office for Talent began work right away on reviewing the UK’s current immigration rules and will focus on ensuring the immigration system is simple and quick for both students and professionals alike. “They will also help those coming to the UK better understand the opportunities on offer and break down any barriers they might face,” read the statement. 

How long can foreign students now stay in the UK after graduation?  

The UK has also announced some exciting new visa changes. PhD students who graduate in Summer 2021 will now be able to stay in the UK for an additional three years. International students who graduate with undergraduate or Master’s degrees can stay in the UK for two years. This news was announced back in 2019.  

Before, foreign students could only stay in the country for four months after graduation. This made it difficult for students to find jobs or begin their working lives in the UK. 

Now, these new changes give foreign students the freedom to nurture the connections they made while studying, build new relationships, establish themselves, and develop meaningful careers in the UK. 

What else did the UK announce?  

The UK has introduced a new points-based immigration system, made to streamline the visa process.  According to the roadmap, people interested in studying in the UK will now have more time to make a visa application. 

The UK also plans to get rid of study time limits for postgraduates. Previously, most students had to complete their studies in five years. Finally, students will no longer need to leave the UK to switch visas – which will help to reduce lots of stress and worry for foreign learners. 

The UK announced it would also invest £300 million in science infrastructure at research institutes and universities. This could prove to be a plus for international scientists and researchers considering whether to study or live in the UK.

What does this mean post-Brexit?  

Brexit caused a lot of uncertainty for students in the UK from the European Union (EU). If you’re an EU citizen moving to the UK in 2021, you’ll now have to apply for a visa to study for longer than 6 months. If you were studying in the UK before this year, you can apply for the EU Settlement Scheme – which will let you continue living in the UK permanently.  

Learn more about the EU settlement scheme. 

The UK states the Research and Development Roadmap will “help to power up the economy and level out the UK.” Overall, the changes are set to help support foreign students in the UK – and particularly those in science, research, and innovation fields. 

To conclude, here’s a concise look at how student visas have evolved:  

What were visa rules like before? 

• In the past, international students could only stay in the UK for four months after graduation

• Most students had to complete their degrees in five years

• Students had to leave the UK to apply for a new visa

• EU citizens did not have to apply for a visa to study in the UK

What will students be able to do now? 

• PhD students who graduate this summer can stay in the UK for three more years. Undergraduate and Master’s students can stay for two more years (announced in 2019)

• The UK will get rid of study limits for postgraduate students

• Students will not need to leave the UK to switch visas

• EU citizens must apply for a visa to study for longer than 6 months.

  EU citizens studying in the UK before 2021 can apply for the EU Settlement Scheme instead

For more information about how to apply for a UK student visa, don’t forget to check out our complete guide.  

Are you interested in working, studying, or living in the UK? 

PTE Academic UKVI is approved by the UK Home Office for visa purposes. Book your test 24 hours in advance, get your results typically within 2 days –  and bring your dream a step closer to reality.  

Learn more about PTE Academic UKVI and book your test today!

Are you planning to move to Australia? The visa process for any country can be confusing – and it’s normal to have some unanswered questions along the way. That’s why many people turn to migration agents for help.  

In this blog, we’ll take a look at what exactly a migration agent can do for you – and what you should keep in mind if you decide to hire one:  

What is a migration agent? 

A migration agent provides immigration advice and assistance. In Australia, they’re registered with the Office of the Migration Agents Registration Authority (OMARA), which is part of the Department of Home Affairs. All qualified agents are authorized by the Australian government to provide their services.  

While you don’t need to work with a migration agent to apply for an Australian visa, they can help make the process a little less stressful. Migration agents can:  

• Complete your visa application 

• Help you understand the dos and don’ts of the visa application process 

• Prepare all required documents 

• Contact the Department of Home Affairs about your application

To find one, you can search the Register of Migration Agents on the OMARA website. If you haven’t moved to Australia yet, keep in mind that there are registered Australian migration agents based around the world. You can check if there’s an agent working close to you using the search tool.

You might be interested in our Australian student visa application guide.

The advantages of hiring a migration agent 

Now that you know what exactly a migration agent does, what are some advantages of hiring one? 

They’re experts in their field  

For some people, working on a visa application alone can be overwhelming. There are detailed instructions to keep in mind, and you want to make sure everything is done perfectly. Hiring a migration agent can lessen a lot of the burden. They’re experts in their field, have up-to-date knowledge on Australian migration law, and have helped numerous other people with successful visa applications.  

Since migration agents follow a Code of Conduct, they’re also obliged to act in your best interest. This means they’ll provide you with professional immigration advice throughout the whole visa process, and should be just a phone call away whenever you have any questions.  

They could help streamline the process 

Migration agents know which documents are required and how to best prepare them. And according to OMARA, submitting an application that’s properly prepared can make it easier to get a faster decision on your visa.  

If you hire a migration agent, you’ll also have someone to represent you in your dealings with the Australian government. Migration agents can reach out to the Department of Home Affairs on your behalf – for example, if your situation has changed or to ask about processing delays. This can save applicants a huge amount of time.   

They can provide support in English  

Understanding immigration paperwork can get complicated, even if you’re fluent in English. So if you’re an English learner, working with a migration agent to complete your application can be incredibly helpful.  

Keep in mind that migration agents aren’t there to translate or interpret documents for you. But working with someone who speaks English fluently to prepare your application can help ensure you don’t miss anything.  

The challenges of hiring a migration agent 

Of course, choosing to work with a migration agent is a big decision. There are a few things to keep in mind before you decide to hire an agent – or rather, work on your own.  

Migration agents can be expensive 

Working with a migration agent is expensive; their services can sometimes cost thousands of dollars. Each migration agent can set their own price. But the fee will usually depend on what visa you’re applying to, how much help you need, and how much experience your migration agent has. Before signing on with an agent, OMARA recommends speaking with at least three professionals to compare how much they charge. 

Overall, moving to Australia is a big investment. So if you’ve researched the visa application and are confident you understand all that’s required, you might decide it’s better to complete the visa process yourself. 

Watch out for unregistered agents  

In most cases, only registered agents can legally give you immigration advice. However, there are people who pretend to be registered agents, which opens the door to immigration fraud. There are also unregistered agents who might not have knowledge of immigration law, could give bad advice, or could lose important files.  

On the other hand, as we mentioned above, registered migration agents have to follow a Code of Conduct – which offers you a range of protections. If for some reason you’re unhappy with your agent, OMARA can also help you to resolve disputes.  

Learn more about the risks of working with an unregistered agent on the OMARA website.  

There’s no guarantees  

It’s important to remember that simply hiring a migration agent does not guarantee your application will be successful. There are many factors that influence a successful application, some of which may be outside even the best agent’s control.  

Overall, it’s important to do lots of research before deciding to hire a migration agent. Once you understand what’s required in the visa process, ask yourself: do I feel confident completing the application on my own? Will I be able to invest the time needed to prepare the application well?  

And do I have friends who can recommend a good migration agent, if I choose to work with one?  

Don’t forget… 

Many Australian visa applicants will also have to prove their English language proficiency. At PTE Academic, we’ve got you covered. Our English language tests are accepted by the Department of Home Affairs for all visa categories.  

Learn more about how our English exams can help you move to Australia. 

We are not immigration agents. For all up-to-date information about visa rules and regulations, see the official guidelines on the Australia Department of Home Affairs website.

No matter where in the world you choose to study, it’s important to take into account the financial cost of living abroad. Tuition, rent, textbooks, and transport can all be big expenses. But because of visa restrictions, not all students are able to work enough hours to support themselves while studying. 

In this, many international students might need to take out private student loans.  So, let’s explore what loan options are available for students – including in popular study destinations like Canada, Australia, the U.S., and the U.K.  

Where can I find a private student loan? 

Many countries have student loan systems in place to help learners fund their education. However international students are usually not eligible for these loans – only citizens, permanent residents, and those with protected status in a country can apply.  

On the other hand, there are lots of private loans for international students. Your eligibility will depend on what country you’re studying in. For example, in some countries, you’ll need a co-signer. In other countries, you’ll need to show you have a regular source of income.  

Loans for students studying abroad are available from various sources, including:  

• Local banks 

• Non-bank lenders and private student loan programs (popular in the U.S.) 

• Universities  

While searching for student loans, we always recommend checking with your university first, as these loans usually come with better terms. For example, the University of Sydney in Australia offers loans of up to $1000 AUD ($777 USD) that are interest-free and payable within 12 months, as well as $2000 ($1550 USD) loans that can be paid back up to two years after graduation.  

Private student loans by country 

Private student loans differ by country. So, let’s take a look at what’s available for international students in these four popular study destinations. 

Australia 

It can be expensive to study abroad in Australia. According to the Australian Government, tuition for international students perusing a bachelor’s degree can cost between $25,000 – $45,000 AUD ($19,425-$34,966 USD) a year. Likewise, the cost of living can be about $21,000 AUD ($16,317 USD) for 12 months. Of course, these costs can vary depending on your institution and where you study in the country.  

But, the good news is that on an Australian student visa, you can work up to 40 hours every two weeks. 

As an international student, you won’t be able to access Australia’s Higher Education Loan Program (HELP). But you can explore the following to help further fund your studies:  

• Short-term and long-term loans from a university. Dozens of universities offer loans to international students, just like the ones from the  we mentioned above. For example,  offers students loans up to $5,000 AUD ($3,883 USD). The even gives out student loans of $200 AUD ($155 USD) in case of emergencies, like if you’ve lost your wallet or are short on cash. 

• A secured personal loan with a private bank, in which you offer an asset as collateral. 

• An unsecured personal loan. With these, you don’t have to offer an asset as collateral, but interest rates are generally higher. Banks across Australia offer these types of loans. One example is Westpac.  

Read more: Australian student loans for international students 

The U.K.  

On average, students in the U.K. spend about £795 ($1,100 USD) a month on living expenses, and for international students, tuition for a Master’s Degree can be between £5,000-17,000 ($6,983-$23,743 USD) a year. With Brexit, EU/EAA citizens will now considered international students.  

So, what loan options do foreign students have? 

• A foreign-enrolled loan. Students can apply to these to fund their education abroad – but it depends on what countries you come from the U.S. and what university you’ll attend. Students from, for example, can be eligible. 

• Bank loans for students studying abroad from your home country.

• Private student loans for foreign learners in the UK. Future Finance, for example, offers 

  flexible loans to international students. 

Read more: UK student loans for international students  

The U.S.  

The U.S. is one of the most expensive places to study as an international student. The cost of living can range between $1,000 – 3,000 USD per month, depending on where in the country you settle. Tuition for a four-year bachelor’s degree can cost roughly $40,000 USD at a public university and can reach past $50,000 USD at a private university.  

However, there are lots of student loan options available. These loans can be quite a long-term, and students might be able to repay them over the course of up to 25 years.  

• Banks and online lenders. Loans from these sources often require a U.S. co-signer with good credit history. Organizations like Assent and Discover provide loans to international students. 

• An online lender that doesn’t require a U.S. co-signer. MPOWER Financing, for example, offers loans for international students without a co-signer.

Canada 

Tuition fees at Canadian universities and colleges can vary – international students can expect to pay between $1000-30,000 CAD ($794-$23,830 USD) a year for a bachelor’s degree. Living costs depend on what city you study in but can range between $800-$2000 CAD ($635-$1588 USD)  a month.  

International students in Canada have a few loan options: 

• A bank loan from your home country. Like many countries, Canada requires students applying for a visa to show they have enough money to cover their expenses

   – making getting a loan from home a good first option.

• A student line of credit from a Canadian bank. With these, you have a set limit (just like on a credit card) and only have to pay back the money you actually use. Learn more about the student line of credits on the Government of Canada website.   

• Private companies. For example, MPOWER Financing also offers loans to international students in Canada without a co-signer.  

This isn’t an exhaustive list. But we hope this article provides you with a good starting point and helps you understand where to begin looking for student loans to fund your education. Remember, it’s important to shop around for the loan that works best for you – there are lots of options out there. 

Preparing to study abroad?

PTE Academic can help you get one step closer. Our computer-based, unbiased language test is accepted by governments and higher education institutions around the world as proof of English proficiency. 

Find out more about the test or book your PTE Academic test today.