International students can apply for private education loans for Australian study, subject to eligibility. Specialist lenders such as Spark Finance and Prodigy Finance offer pathways for eligible students. Personal loans marketed for education have separate residency, income and credit requirements, so they should not automatically be treated as options for student visa holders.
The most useful comparison starts with which loans you qualify for, then considers the funding available, total cost and repayment schedule.
This guide explains the differences and gives you a checklist to use before accepting an offer.
Last reviewed: 26 October 2026. Published by Spark Finance, one of the lenders discussed. This is a selected comparison, not an independent review of the whole market. Eligibility and terms can change.
International student loan options at a glance
| Provider | Type of finance | What international students need to check |
|---|---|---|
| Spark Finance | Specialist education finance, with cosigner and no-cosigner pathways | Supported nationality, course, university and the criteria for the chosen product |
| Prodigy Finance | Specialist international postgraduate finance, with no cosigner or collateral required for eligible loans | Whether the exact postgraduate programme and institution are supported, plus applicant eligibility |
| CommBank | Personal loans marketed for education | Whether the lender accepts your specific visa, alongside Australian residence, work eligibility, regular income and credit requirements |
| MONEYME | Personal loans, including loans marketed for student expenses | Whether your residency or visa status, income and proposed expenses meet its lending criteria; student visa eligibility is not established by its student-loan page |
Sources: Spark’s cosigner product, Spark’s no-cosigner product, Prodigy Finance, CommBank and MONEYME.
A loan allowing education expenses does not mean every international student can apply. Confirm eligibility before spending time comparing rates or completing a full application.
How do the providers differ?
Spark Finance
Spark offers education finance for eligible international students coming to Australia or New Zealand, including undergraduate and postgraduate coursework students. It has both cosigner and no-cosigner products.
The cosigner pathway requires an eligible Australian or New Zealand citizen or permanent resident. The no-cosigner pathway provides an alternative for eligible students without that support. Supported nationality, admission and other lending requirements apply.
Start with Spark’s international student loans or no-cosigner tuition loans to identify the relevant pathway.
Prodigy Finance
Prodigy supports eligible postgraduate study at selected institutions, including Australian options. Its Australian-study information describes loans for tuition and living costs, subject to limits, without a cosigner or collateral.
Check your exact programme rather than assuming every course at a supported university qualifies. Its published representative example uses US dollars, so confirm your loan currency, fees and repayment obligations in writing.
CommBank
CommBank offers fixed and variable personal loans for education. Applicants must meet its personal-loan criteria, including living in Australia, work eligibility, regular income, credit requirements and an accepted citizenship, residency or visa status.
Having student visa work rights does not establish that your visa is accepted. Confirm your visa subclass directly before applying.
MONEYME
MONEYME markets personal loans for student expenses. These are general personal loans rather than a dedicated international tuition-finance pathway.
Its student-loan page does not establish eligibility for student visa holders. Obtain confirmation of your residency or visa eligibility and income requirements before shortlisting it.
What should you compare before choosing a student loan?
1. Eligibility for your course and circumstances
Ask whether the lender supports your nationality, visa status, university, qualification and intake. Also check whether you must already live or work in Australia.
An offer from a university is not a loan approval. If you are comparing MBA or LLM funding, check the exact programme, not just the institution’s name.
2. Cosigner and security requirements
A cosigner takes on obligations under the loan agreement. Collateral is an asset provided as security. A loan without collateral may still require a cosigner.
If someone will cosign, check who can qualify, their repayment responsibilities and any conditions for release. Spark’s cosigner overview explains the role in more detail.
3. The funding gap and expenses covered
Calculate what you still need after confirmed savings, scholarships and family support. Then check whether the loan covers tuition only or also approved living and study expenses.
For example, if tuition is AUD 40,000 and you have AUD 15,000 available specifically for fees, your tuition gap is AUD 25,000. You still need a separate plan for accommodation, insurance, travel and everyday expenses unless these are covered by other funding or the loan.
Confirm whether funding covers one study period or more of your course, and whether later disbursements have conditions.
4. Total cost, not just the starting rate
Compare personalised offers for the same amount and repayment term. Request the interest rate, establishment fees, ongoing charges and estimated total repayments.
Check whether interest is fixed or variable and whether it accrues during any repayment deferral. Lower payments during study can leave you with a larger balance later.
Where comparison rates or APRs are shown, check their assumptions and included fees. Figures calculated using different amounts, terms or methods may not be directly comparable.
5. Loan currency and repayments
Confirm the borrowing currency and consider the currency of your likely future income. If they differ, exchange-rate movements can change the amount of income needed to make repayments. Conversion and transfer charges may add costs.
Also ask when repayments begin, what is payable during study, and whether extra repayments or early settlement attract charges. A longer term may reduce regular payments while increasing total interest.
6. Payment dates and changes to your plans
Ask whether funds go to you or directly to the university, and whether disbursement dates meet your fee deadlines.
Before signing, establish what happens if your visa is refused, you defer, change courses or withdraw. Check who receives any university refund and how it affects your loan balance and fees.
A checklist for comparing loan offers
Ask each shortlisted lender to provide the following in writing:
| Comparison point | Details to record |
|---|---|
| Eligibility | Exact course, university, nationality and visa accepted |
| Funding | Approved amount, currency and expenses covered |
| Cost | Personalised rate, fees and estimated total repayments |
| Repayments | Start date, payments during study, frequency and term |
| Flexibility | Extra repayment rules, early repayment charges and hardship support |
| Disbursement | Recipient, release dates and conditions for later payments |
| Changed plans | Deferral, withdrawal, visa refusal and refund arrangements |
Use a realistic budget when assessing repayments. Consider how you would manage a delay in finding work or a change in income after graduation.
Frequently asked questions
Can international students access HECS-HELP or FEE-HELP?
International students on temporary student visas are not eligible for Australian Government HELP loans. Some other citizenship and visa categories have different rules. Check the Australian Government’s Study Assist eligibility information for your status.
Can I get a student loan without a cosigner in Australia?
Yes, no-cosigner pathways are available to eligible international students, including through Spark Finance and Prodigy Finance. Each lender has its own course, institution and applicant requirements. Applying without a cosigner does not guarantee approval.
Which is the cheapest international student loan?
There is no single cheapest loan for every student. Compare the personalised rate, fees, repayment timing, term and currency costs for products you qualify for. The lowest advertised starting rate may not be the rate offered to you.
Can I apply before arriving in Australia?
Ask the lender whether it accepts applications from students overseas and what admission or visa documents are needed at each stage. Check when approval becomes final and when funds can be released, particularly if you need funding before enrolment.
What other funding should I consider before borrowing?
Check university scholarships, home-country education finance, family support and any university payment arrangements. Availability varies, so confirm deadlines and conditions. Borrowing only the remaining gap can reduce the amount you need to repay.
Explore your tuition funding options
Start with your university offer, tuition deadlines and remaining funding gap. Shortlist lenders that accept your circumstances, then compare their written offers using the checklist above.
To explore funding through Spark, review our international student loan and no-cosigner tuition loan pathways, or contact our team to discuss eligibility.
This article provides general information and does not consider your objectives, financial situation or needs. Consider the relevant loan terms and whether borrowing is appropriate for your circumstances. Credit criteria, fees, charges, terms and conditions apply.
