Australia & New Zealand have long been top choices for international students, celebrated for their world-class universities and unparalleled lifestyles. However, financing studies has been a significant barrier until now. At Spark Finance, our mission is to provide talented students with affordable, flexible funding to help them pursue their educational goals. If you’re an international student seeking financial support to study at an Australian or NZ university, and have an Australian or NZ citizen or permanent resident who can cosign your loan, this product is for you.
Why choose Spark Finance?
International Opportunity
Access credit to study any degree at one of Australia or New Zealand’s leading universities.
Loan Management Support
Apply with a cosigner, who will handle repayments until student enters workforce (after which cosigner release option is available).
Competitive Pricing
Tailored rates* for each application (student plus cosigner), with fixed and variable options available.
Flexible Repayment Terms
Choose a repayment term that fits your budget and lifestyle, with options ranging from 3 to 8 years.
We offer personalised interest rates for as low as 12.59% APR*.
At Spark Finance, we believe in offering fair, personalised interest rates on loans for international students, tailored to each borrower.
Our innovative model goes beyond the usual factors most lenders consider for their lending decisions, taking into account not just your credit history and current financial situation, but also your future earning potential. Here’s how it works.
ONE
Your cosigner’s credit history
We review your cosigner’s credit history, including their credit score, payment record, and any defaults. This helps us assess their likelihood of repaying the loan on time.
TWO
Your cosigner’s current financial situation
We consider your cosigner’s current income, living expenses (such as rent, bills and transport), liquid assets, and any existing debt repayments payable. This helps us assess their ability to manage and repay the loan.
THREE
Your future earning potential
We also consider your future occupation and anticipated income growth. This gives us a fuller picture of your long-term financial outlook as part of our assessment, helping us offer a rate that reflects your potential.
What is a cosigner and what are their obligations?
A cosigner is essentially a joint applicant, often a parent, family member or friend, who signs the loan alongside the student. Like the primary borrower, the cosigner’s financial circumstances and credit history are assessed as part of the application.
By cosigning, they agree to help with loan repayments alongside the student.
Am I eligible?
To meet our eligibility criteria for a Spark Finance loan for international students, you must:
- Be a citizen of your home country, holding a valid passport from one of the countries Spark Finance supports as an approved lender (see the list of countries here).
- Have been accepted into undergraduate or postgraduate coursework at an Australian or NZ university or institution.
- Have a cosigner that is an Australian citizen, NZ citizen or permanent resident with minimum 3 years’ credit history (in good standing).
- Have an IELTS (or equivalent test) score of 6.5 or higher.
Unsure of your eligibility? See how much you could borrow in just a few clicks
Get an instant, tailored estimate based on your financial profile with our Borrowing Power Calculator, helping you plan the money you’ll need for university and study costs with clarity and confidence. No cost, no commitment.
Borrowing Power Calculator
Get a student loan in 5 easy steps
Get Started
Go to 'Apply Now' to create an account and apply online. We’ll provide you with all the information you need to apply for a loan, ensuring you're ready to move quickly once your study plans are confirmed.
Submit an Application
Once you’ve been accepted into your chosen degree, complete our online loan application form. This will be a two step process: you’ll complete an application form outlining your study plans and previous education, and your cosigner will need to provide details around their financial circumstances.
Upload Your Documents
Once we’ve reviewed your application, we’ll provide provisional approval along with a request for additional documentation, subject to verifying the supporting documents you both provided. This lets you know we’re ready to move ahead with a loan agreement.
Sign on the Dotted Line
Congratulations! Your documents have been verified, and your loan is approved. We’ll send you and your cosigner a contract outlining the terms and conditions of your loan, along with proof of funds, which you can use to finalise your university enrolment and/or apply for your student visa.
Focus on Your Studies
With Spark Finance, you can study now and pay later. We’ll disburse funds directly to your university as tuition fees are due, eliminating the hassle of international transfers. Your cosigner will handle repayments until you graduate and enter the workforce, after which you'll share the repayments together.
