Borrowing Power Calculator

How Your Result Is Used

Your borrowing power estimate is a guide, not a guarantee. It gives you a useful starting point before you formally apply. Once you submit a full application, Spark Finance will conduct a comprehensive assessment that takes into account additional factors such as your credit history, cosigner’s financial profile, chosen university and degree, and your future earning potential. To learn more about how rates and lending decisions are made, see our Interest Rate Approach.

Which Loan Product Applies to You?

Your answer to the first calculator question, your student status, determines which Spark Finance product is most relevant:

• International student coming to study in Australia or New Zealand: see the International Student Loan. A cosigner who is an Australian or NZ citizen or permanent resident is required.
• Australian or NZ student heading overseas for an undergraduate degree: see the ANZ Undergraduate Loan Abroad. A cosigner is required for this loan type.
• Australian or NZ student heading overseas for a postgraduate degree: see the ANZ Postgraduate Loan Abroad. Eligible applicants may not require a cosigner.

What does my borrowing power estimate actually mean?

Your estimate reflects the maximum loan amount Spark Finance may be willing to offer based on the income and expense information you entered. It is an indicative figure, not a formal credit assessment. The actual amount approved, and the interest rate attached to it, will be determined after we review your full application, supporting documents, and credit history. 

Does the calculator check my credit score?

No. The Borrowing Power Calculator does not perform a credit check and has no impact on your credit file. It uses only the income and expense figures you enter to generate an estimate. A formal credit assessment, which does include a review of your credit history, only takes place when you submit a full loan application. For more on the factors that influence your rate and approval, visit our Interest Rate Approach.

Do I need a cosigner to use the calculator?

No, you can run an estimate with or without a cosigner. However, if you are applying for the International Student Loan or the ANZ Undergraduate Loan Abroad, a cosigner is required for the actual loan. In those cases, entering your cosigner’s financial details into the calculator will give you a much more accurate borrowing estimate, since their income and expenses are a key part of the assessment. Applicants for the ANZ Postgraduate Loan Abroad may be eligible without a cosigner if they meet the assessment criteria.

What is a cosigner and what are they responsible for?

A cosigner is a joint applicant – typically a parent, family member, or trusted friend – who signs the loan agreement alongside you. They take on shared responsibility for repayments, which means their income, expenses, and credit history all factor into the lending decision. For loans that require a cosigner, the cosigner handles repayments while the student is studying. Once the student enters the workforce, a cosigner release option may be available. For a full overview of the cosigner’s role and obligations, visit our Cosigner Overview page.

How does my choice of degree and university affect how much I can borrow?

Your degree and institution are important inputs in Spark Finance’s lending model. We take into account your future earning potential based on your field of study and the reputation of the university, which means students in high-demand disciplines at leading institutions may qualify for larger loan amounts or more competitive rates. This is one of the ways our approach differs from traditional lenders who rely solely on current financial data