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| Australia
: Finance options
- Australia |
| Australia
is a great option not only in terms of the education
standards but because it makes great economic sense
as well.
Preparing a Budget
When preparing a budget, making
a table as below will help you understand where the
dollar is being spent
| Expense |
Estimated Cost |
| Application and Test Fees |
$____________ |
| Tuition and Fees |
$____________ |
| Books |
$____________ |
| Travel to Australia |
$____________ |
| Room and Board |
$____________ |
| Expenses when school is closed |
$____________ |
| Clothing |
$____________ |
| Personal expenses |
$____________ |
| Health insurance |
$____________ |
| Summer study or travel |
$____________ |
| Other |
$____________ |
| TOTAL FOR ONE YEAR |
$____________ |
| Multiply the total by the
number of years in your program (___) |
$____________ |
Assume that your costs will increase
by about 5% per year due to inflation. Don't forget
to include an allowance of about 10% to account for
fluctuations in exchange rates.
Aid from Your Home Country
One of the best sources of financial aid to study
in Australia is organizations in your own country. The
nearest educational advising center may have information
about local sources of support.
Your own government may have financial aid available.
Contact your ministry of education for more information,
since there are many awards which require you to be
nominated by your government.
There may also be private organizations in your home
country that provide support for study in the Australia.
Businesses, foundations, and religious groups might
have funds available.
Aid from International Organizations
Of the few private scholarships for international
students, most require that you apply from your home
country. Some international organizations may also offer
funding for graduate students to study in Australia.
Aid from Educational Institutions
Most support for graduate study is provided by the
schools in the form of teaching assistantships and research
assistantships. These assistantships are based on academic
merit, not financial need.
Loans
A few banks will offer student loans to international
students if the loan is co-signed by a creditworthy
Australian citizen. There may also be restrictions on
the type of visa. Student
loans from Indian
Banks are definitely the better option
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