Australia & New Zealand have long been top choices for international students, celebrated for their world-class universities and unparalleled lifestyles. But financing an international degree usually comes with one big catch: finding someone to cosign your loan. Spark Finance built this personal international student loan so that it’s no longer a barrier. If you don’t have an Australian or NZ citizen or permanent resident able to co-sign, you can apply on your own, assessed on your individual financial profile, study plans, and future earning potential.
Why choose Spark Finance for your personal student loan?
Apply Independently
No cosigner, no joint application. Your loan is assessed on your own financial situation, study plans, and future occupation, so there’s nothing to organise on anyone else’s behalf.
Personalised Assessment
We look beyond a simple credit score check. Your future earning potential based on your degree and career path is factored into your interest rate, not just your current financial position.
International Opportunity
Access credit to study any undergraduate or postgraduate degree at an eligible Australian or NZ university, across any field of study.
Flexible Repayment
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*
How your student loan rate is determined
At Spark Finance, we believe in offering fair and personalised interest rates tailored to each borrower. Our unique approach goes beyond the usual factors that most lenders consider, taking into account not just your credit history and current financial situation, but also your future earning potential. This product does allow you to not have a cosigner. However, if you do have an eligible cosigner, your interest rate will be lower. Because there’s no cosigner on this loan, your personalised rate is based entirely on your own profile:
- Your credit history – how you’ve managed any borrowing or repayments to date, including credit score and any defaults.
- Your current financial situation – income, expenses, liquid assets, and existing debt.
- Your future earning potential – your intended occupation and expected income growth based on your degree and career plan.
Am I eligible?
To qualify for a Spark Finance international student loan, you must:
- Be a citizen with a valid passport from one of the countries Spark Finance supports (see the eligible countries list)
- Have been accepted into an undergraduate or postgraduate program at an eligible Australian or NZ university
- Have an IELTS (or equivalent test) score of 6.5 or higher
How to get student loan in 5 easy steps
Get Started
Create an account here. We’ll provide you with all the information you and your co-signer will need to apply for the 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 co-signer will need to provide details around their financial circumstances.
Upload Your Documents
Once we’ve reviewed your application, we’ll provide a conditional offer. This is essentially a quote that lets you know we’re ready to proceed with your loan approval, contingent upon receiving supporting documents to verify the information you both provided.
Sign on the Dotted Line
Congratulations! Your documents have been verified, and your loan is approved. We’ll send you a contract outlining the terms and conditions, along with proof of funds, which you can use to finalise your university enrollment and/or apply for a 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 co-signer will handle repayments until you enter the workforce, after which you’ll have the option to release your co-signer from their obligations and manage repayments personally (contingent on you being reassessed and approved as the primary loan holder).
Frequently Asked Questions
What is a personal international student loan?
It’s a tuition loan for international students studying in Australia or NZ that’s assessed on the student’s own profile alone, with no cosigner required. Your credit history, current financial situation, and future earning potential are used to personalise your rate.
Do I need a cosigner to get an international student loan in Australia or NZ?
Not for this product. You can apply independently. If you do have an eligible cosigner (an Australian or NZ citizen or permanent resident), including them may help you access a lower interest rate.
How is my interest rate calculated without a cosigner?
Your rate is based on your credit history, your current financial situation, and your future earning potential based on your degree and intended career.
Am I eligible for a no-cosigner international student loan?
You’ll need a valid passport from an eligible country, an offer at an eligible Australian or NZ university, and an IELTS (or equivalent) score of 6.5 or higher.
Can I add a cosigner later to get a better rate?
Yes. This product doesn’t require one, but including an eligible cosigner in your application may improve your personalised rate.
How is the loan paid to my university?
Funds are sent directly to your university as tuition payments fall due. Money isn’t transferred to your personal bank account.
Get the education you deserve.
Ask us any questions about our products, studying in Australia or NZ, or see our FAQ’s.
