The College And University Loan Fund Loan Agreement Amount: Fill & Download for Free

Thomas Johnson gets it about right. Even non-elite universities are in an arms race to seem attractive to students who might apply. You might argue, with some justice, that this is the university's fault, but it references a much larger problem. Today's students want dorm rooms that are at least as good (ideally better) than their bedroom at home, a new fitness center that looks great even if most students use it only a few times, and Internet speeds much better than at home. Parents also demand more from students services -- career centers, health and especially psychiatry availability, etc.Athletics are a financial problem. Only 5 or 10 universities actually break even or have a profit -- the usual suspects (Texas, Alabama, Ohio State, etc.). Donations that arguably would not go to academic purposes (although there's no good data that this is the case) make up part. But most universities are out of pocket a significant amount. Why? Because the alumni demand it, and guess what? Students like to attend schools with good jock teams. When you have a head football coach making more than the president, usually by a significant amount, you've got problems. Financial aid to jocks is a huge expense, partially covered by endowment and donations but a double cost to the university which has to come up with the scholarship money for the jocks and loses the opportunity to have tuition paying students fill their places.Universities need new buildings with new technology and in the case of science buildings to house the latest equipment. Classrooms that are often hard to fit into building plans are very expensive. Guess what? Universities that have smaller classes require more classrooms. Gone are the days when a builder came in, looked around and built a functional building that more or less matched the rest of the buildings. Architects (often famous ones) cost money; they build pretty buildings. I'm guessing that building supplies have risen more than the general cost of living.Utilities have risen dramatically, and again much more than cost of living generally.Library costs have gone up exponentially. It's not uncommon for major scientific journals to cost $3000 or $4000 a year as subscriptions. All institutions that sponsor journals charge far more for library subscriptions than for individual. Well, let's just go all electronic. Makes sense. Yes, except the charges for electronic subscriptions are usually the same as for paper and often require that the library purchase paper copies to get the on-line stuff. Has anyone noticed that books seem to cost a whole lot more now than then. Well they do, and the rise is more than inflation. Students who used to buy a semester's load of books for $100 now sometimes pay double that amount for one book -- science texts often even more (and, no, Kindle will not solve that problem) Book budgets for libraries have again risen faster than inflation, much faster.Most of a university's budget goes for salaries. Faculty are now paid a living wage, some would argue too handsomely. Some faculty get really high salaries, but it costs big bucks to get a famous person on board. Why does that matter? Arms race, again. On the other hand, famous faculty attract other famous faculty, and more research money, and better graduate students, and, also, better undergraduates, perhaps for the wrong reasons. Many students (and their parents) like the possibility that they can take a class with a Nobel Prize winner, but in many places will never lay eyes on him or her. And while we're on salaries don't forget to add in contributions to retirement and health care, which seems to be going up at a rapid rate.Administrative costs at universities have risen dramatically as they have at almost all other organizations. Partially that's because of increased reporting responsibilities, more regulations, etc. At my former university when I arrived in 1989 the legal staff was one half time person borrowed from a major law firm in town. Now there is a whole office with several lawyer, all paid living wages I assume. I frankly have no idea what they do, but I'm pretty sure that they're busy. In fact I know they are.Several people have pointed to research costs. That's difficult to access. In most major universities research is largely funded by outside grants and is therefore self-supporting. In addition most grants come with indirect costs theoretically to support utilities, library costs etc. It's a big source of income, and major research universities would fold without indirect costs. There are other research costs, of course. Some graduate students may not have stipends that are fully covered by grants. and the university picks up the tab. Typically graduate students pay no tuition or it is paid by a funding agency. That makes graduate education very expensive as faculty devote more time to non-tuition paying students than those who pay (like undergraduates). Labs are built and remodeled by the university. New faculty off get substantial start-up costs to get their research off and running. There are, of course also research costs in the humanities although not nearly as much.Computer costs. Don't get me started. Faculty typically get a personal computer, but usually not top of the line. But the big expense is in maintaining the campus network and connections to the Internet. Gotta have it for research, for instruction, and to appeal to students. Classrooms have to be wired with the latest and greatest.And speaking of graduate education most law schools and business schools are self-supporting although not necessarily when utilities, maintenance., etc is included. Medical school lose incredible amounts of money although you need a PhD in accounting to try to figure out what medical education costs. It's complicated, but no matter how you do the spread sheet, medical schools are money swamps.Tuition costs a lot, but at most elite and semi-elite places something between one-third and one half of tuition is given back by scholarships, some externally funded, but at most places the university simply eats the expense. Some financial aid is in the form of loans or work, but many places put a cap on how much scholarship aid can be loans.As others have pointed out American universities not only look better (and often for good reasons), have better labs and libraries, what I'll call amenities are much better, dorms exist (which is often not the case in other countries) and are generally pretty nice, and faculty salaries relative to averages are higher. Of course, in US universities students actually attend classes (well at least sometimes) and don't end up in crowded lecture halls with little chance of access to instructors or even the ability to be able to take courses they need because they are over-enrolled.. Kids here have it much better, perhaps that's good, perhaps not. But that's what the market demands. And it's probably good generally.It has become a mantra of conservatives that the problem is the easy availability of loans. Because students can get easy money to pay for their expenses universities have no incentive to curtail costs. That's is very simplistic and mostly wrong. Universities don't run on money provided by student loans. Tuition (whether from loans or parents) typically pays about 25% of the cost of universities. The part supported by loans is some fraction of that and although it's not a trivial part of the budget, it's not a major part either. The fantasy (and it is that) seems to be that if we didn't give students loans, suddenly kids would stop applying and colleges would be forced through some logic of supply and demand to lower costs. Unfortunately it simply won't work generally. If everyone had to pay the full cost state universities and less elite ones probably would suffer a decline in applications and enrollments. However, most costs are not easily lowered. The easiest place would be in terms of building maintenance and salaries. The former means just kicking a can down the street, and if faculty salaries were frozen or, god forbid lowered, many would leave the profession or gravitate to places where they could make more money. Good riddance? Well, not really. We really don't need that kind of brain drain, already a major problem in the sciences. But the major solution, already occurring, is that instead of paying professors say $100,000 a year we'll hire adjuncts or graduate students to do the teaching. So let's do the math. Our mythical tenured professor teaches say 5 classes (although most teach fewer especially at the more elite universities) so that works out to $20,000 a class. But we can hire an adjunct for maybe as low as $5000 a class (what my previous university paid), and you don't have to have a degree in higher math to see where that's going. Also you don't have to pay retirement or health insurance, which adds something on the order of 20% to the salary of our professor. Now I should be very clear that many adjuncts work harder at teaching that tenure-track faculty and some are actually more effective at it. But they can't write effective letters of recommendation, provide research opportunities or even spend much time with students out of class as they rush from one teaching assignment to another.If we reduced loan opportunities the Harvards and Stanfords would still flourish quite nicely although they would probably be even more populated by rich kids. There are always going to be parents who are willing to pay almost anything so that they can have bragging rights about where their children go. It's hard to predict what might happen at state universities, but certainly the general consensus has been that education at such places has generally worsened once states stopped contributing as much. Cutting costs isn't going to make things better -- just cheaper. There seems to be some assumption that university administrations raise tuition on what amounts to a whim without worrying about the effects on their students. Nothing could be further from the truth. Raising tuition is usually an agonizing decision,, and one not taken lightly.Cutting down loan possibilities as a way of putting pressure on universities is about the same as cutting government spending to reduce the deficit. In principle that sounds great, but in practice it's hard to get agreement on what to cut and most of the items that are easiest to cut have little impact on over-all spending. For better or worse in some important respects higher education is beyond the laws of supply and demand. In that it's like American medicine.There's much more to be said, and I agree that in some ways higher education is out of wack or at least has screwy priorities. But it's hard to make education cheaper, and college administrators spend a huge amount of their time trying to figure out ways to lower costs within the various constraints they have. There are some things we could do to make education cheaper, but most would decrease the perceived and probably real benefits. What we might do is for a different discussion but curtaining loans is not a good idea because it would not solve the problem and would make it harder for poor kids, who most need the education, to go to college.ADDITION 3/12/19: Recently Rice University announced a policy of free tuition for children from families that make less than $130,000/yr, and no tuition or room and board fees for those making less than $65,000/yr. Students who come from families making less than $200,000/yr will also not be required to take out loans although they will be expected to earn money during the summer or while on campus. Most elite universities have adopted similar programs. At Rice tuition is $47000, room & board $14000, fees are $745, and books $1200. Harvard, Stanford, etc. are slightly greater.Of course, many private colleges are more dependent on tuition income and cannot afford to be so generous, but even there financial aid often covers a substantial part of costs. State universities, of course, are much cheaper and generally have fewer resources to offset tuition. In that regard it’s important to note that one reason tuition has risen so fast at state universities is because almost all state legislatures have cut their support of higher education dramatically. As one example, in 1984 the state of Texas paid 47% of the costs of the budget at the University of Texas, with tuition accounting for 5%; in 2018 the state paid 12% and tuition revenues 21%. Now there is a legitimate argument that students who benefit from a college degree should pay for it rather than the state. But that is short-sighted since the entire state benefits from having well educated folks around and about. By the same logic, I who have no children in elementary and high school should not be “forced” to pay for the education of the children across the street who go to public schools. Historically Americans have always believed that support for education provided general benefits and should be paid by all. At any rate, the primary reason for rising costs at state universities has been the decreasing support from the state. Whether that is fair or wise can be debated.

Hello,Everything you need to know before studying in Australia - education system, visa requirement and process, Indians living in Australia, post-study options and more.1. About the countryAustralia is the largest country, geographically, and is a continent in itself. It lies in the southern hemisphere so the weather changes are opposite than those of India. Australia has five of the 30 best cities in the world for students to live in based on student mix, affordability, quality of life, and employment opportunities. The capital of Australia is Canberra.Education systemAustralia has the third highest number of international students in the world after United Kingdom and United States. It also has seven of the top 100 universities in the world. Australia's national quality assurance system is unique in its structure and rigour. The Australian Quality Training Framework has been set up by the government to strengthen the quality assurance processes in education.College Fit: At the higher education level, students have a wide range of options when they choose a college or university. Although there are agencies that attempt to rank colleges and universities, the concept of “fit” is also important. The GPA* of admitted students are important, but majors offered, location, number of students enrolled, and campus culture are all factors influencing a prospective student’s decision. Some colleges and universities are publicly funded, while others are privately supported.*GPA means grade point average. It is the average of all grades received.Popular student destinations: The top universities in Australia are The Australian National University, The University of New South Wales, The University of Melbourne,The University of Western Sydney, and Monash University (in no particular order). The area of New South Wales on the east coast of Australia is the centre of all its renowned academic institutes. Most of the best colleges in the country are situated in cities like Sydney, Canberra, Brisbane, Melbourne, and Perth. About 12,629 Indian students were studying in Australia during the academic year 2012-13. Accounting, Master of Business Administration (MBA), Health Care, Information Technology, and Hotel Management are the popular courses Indian students pursue in Australia.Safety in Australia: Australia is a multicultural society that welcomes people from other cultures, countries and backgrounds. While majority of Indian students studying in Australia have a positive experience of living and studying in Australia, there were a number of incidents of assault as well as of robbery during 2009 and 2010, which affected not only Indian students but also members of the larger Indian community in Australia. Presently, no such incidents have been reported and active efforts have been made by the Australian government to prevent such untoward incidents from happening in future.WeatherAustralia is diverse in its geography and climate. The country is located in the southern hemisphere. This means Australia's summer starts in December and winter begins in June. Nearly a third of Australia is in the tropics where the average temperatures are in the mid 20 degrees Celsius. The southern areas are in a temperate zone.Australian Capital Territory – This region covers Canberra. It has hot, dry summers, and cold winters with occasional fog and frequent frosts. The average temperature in summers would be around 30°C to 15°C; in winters it would be around 11°C to 0°C.New South Wales – This region covers Sydney and its weather is very relaxing all round the year. The average temperature in summers would be around 22°C to 40°C; in winters it would be around 17°C to 8°C.Northern Territory – This region has a tropical climate, and has two distinct seasons, the 'Wet' and the 'Dry'. The Wet season spans from November until April and is characterised by increased humidity followed by monsoonal rains and storms. The 'Dry’ season, from May until October, is characterised by warm, dry sunny days and cool nights. This region covers Darwin. The average temperature in wet season would be around 33°C to 25°C; in dry season it would be around 35°C to 21°C.Queensland - Warm summers and mild winters are what you can expect here. This region covers Brisbane. The average temperature in summers would be around 20°C to 30°C; in winters it would be around 20°C to 10°C.South Australia – This region experiences mild weather with sunshine all the year round and covers Adelaide. The average temperature in summers would be around 17°C to 30°C; in winters it would be around 15°C to 6°C.Tasmania - Snow falls in the mountains in winter. However, most people in Tasmania live in towns and cities near the coast. The ocean moderates the temperatures there. It covers cities like Hobart and Devonport. The average temperature in summers would be around 25°C to 10°C; in winters it would be around 11°C to 4°C.Victoria – This region covers Melbourne. It enjoys warm summers, pleasant springs, mild autumns and crisp winters. The average temperature in summers would be around 26°C to 15°C; in winters it would be around 13°C to 6°C.Western Australia - This region covers Perth and is famous for its long days of sunshine, spotless blue skies and brilliant beaches. The average temperature in summers would be around 31°C to 18°C; in winters it would be around 17°C to 7°C.Lifestyle tipsAustralians are know to be friendly and helpful people, with a great sense of humour. Australia is considered one of the most competitive nations on Earth. This covers all areas of life including the workplace. While English is Australia’s national language, there are certain words and expressions that have come to be regarded as uniquely Australian through common usage. Some of them might seem strange to non-Australians.Australians love their sport, both playing it and watching it. The most loved sports in Australia include Australian football, rugby, and cricket. This relatively benign climate has resulted in a country where people spend a good deal of time outdoors at beaches, in the countryside or on sporting fields as either spectators or participants.Indians living in AustraliaThere were nearly 308,542 Indian immigrants living in Australia in 2011. They represent the second-largest immigrant group by country of origin, after China. Almost one-third of all Indian immigrants resided in Victoria.Download this guide to read it offlineGet it Now!2407 People downloaded this guide2. Student lifeAccommodationFirstly, you need to decide whether you want to live in university managed accommodation, or with a private landlord. Choosing university managed accommodation can also give you a catered or self-catered option. Catered accommodation offers the benefits of your meals being cooked for you and a degree of certainty with meal costs.If you have an idea about what you prefer, the accommodation office at your university will be able to tell you what accommodation they have available - so that’s the place to start. If you are thinking of renting from a private landlord or if your chosen university can’t offer you anything in its own residential facility, the accommodation office should be able to provide you with a list of private properties and landlords in the area.Wherever you choose to live, you should make sure that you know your contractual rights and responsibilities. In most cases you will be asked to enter into a tenancy agreement, which you should read thoroughly before you sign.OrientationOrientation week is mandatory for international students so ensure that you arrive before it starts. This is the time where you will be introduced to the university and its services, as well as enroll in your classes. It is essential that you read your guidebook, which is provided by the college. The guide explains each part of the admission process.ActivitiesAlong with sport, colleges offer extra-curricular activities that provide students a wide range of experiences. Music, drama, science and literary societies in colleges offer opportunities for outdoor education and other leisure activities. Visits to theatres, concerts, and places relevant to the courses of study such as art galleries and museums, religious centres or historical sites, scientific companies and projects are all part of college life.3. Admission processRequirementsThese vary between study programs and levels. For each course, Indian students will need to meet a minimum English language requirement. Along with that a minimum academic record of 65% and above in class XII will be required. Foundations and Diploma programs are available for students who have secured below 60%. The student should have completed 18 years of age before joining a degree program.It is important to note that these numbers are just for reference purpose, the actual numbers may differ from university to university.The following documents also need to be submitted:Attested copies of mark sheets of class X, XII, and the Bachelors degree (if applicable)At least, two academic reference letters from professors who have taught you most recentlyIf you have work experience then two letters of recommendation from the employer/manager who knows you well and can comment on your professional abilitiesStatement of Purpose (SOP)ResumePhotocopied score reports of GMAT / IELTS / TOEFLPortfolio (in case of Students applying for art and design courses & architecture programs)Others (certificates / achievements at the state and national level and extracurricular activities)Proof of fundsTimelineMost of the colleges in Australia accept online applications. You will have to visit each college's website to apply. In most cases, you will have to make an account on the college website to provide your basic information, submit the scanned version of your documents, and pay application fees. You will be informed about the application process and its stages through this account. Please refer to the website of the colleges of your choice to know the process of applying.Application fee: All colleges require that you pay an application fee while applying. The fee amount will differ depending upon the college and course being applied to, so check with individual colleges about their application fee.Steps: The common steps to applying for admission are as follows:Search for colleges and coursesContact schools and visit websites for informationNarrow down your list of schoolsTake the entrance exams like SAT, GMAT, GRE, TOEFL, IELTSWrite SOPs and ask for LORsApply to the colleges which fit your interestsAppear for video interviews to the colleges who shortlisted youIf accepted, apply for student visaSOP: A Statement of Purpose (SOP) is your introduction to the college and admission officers. It is always written in first person and describes the reason for applying to a particular college. It needs to highlight why you are a perfect fit for the college and why the college should accept you. The style of writing could differ from formal to casual, but it is important to remember that it should reflect your personality as well.Essay: Essays are also required to be submitted by a prospective student. Essays are an important part of the university admissions process. Students may be required to write one or two essays, along with a few optional essays too. Common topics include career aspirations, strengths and weaknesses, skills, experiences, and reasons for considering a particular school.LOR: A letter of recommendation (LOR) is a reference letter written by a third party describing the qualities, characteristics, and capabilities of the prospective student to recommend him to the college in terms of that individual’s ability to perform a particular task or function. The third party could be a professor, direct manager etc.Intake seasonsAustralia generally has two intakes i.e. February and July, with few universities offering multiple intakes in September & November. You should start your admission process around six months before the application deadline. Typically most universities have three deadlines, during one intake. It is up to the convenience of the students, which deadline to aim for. You should be done with your language and aptitude tests by three months before the deadline. The last three months should be dedicated to filling out the application form properly.It is essential to ensure that the ‘complete application process’ along with appearing for interviews and visa application procedure should be complete by Nov-Dec for the February intake.If you are looking to get admission into vocational courses, then some courses may have admissions open in January and perhaps even May or July.4. ExamsLanguage examsInternational English Language Testing System (IELTS), Test Of English as a Foreign Language (TOEFL) and Pearson Test of English (PTE) are all standardised language tests, which are required to be taken for the purpose of getting admission into colleges. These follow different formats, structure and result bands. These tests are different in various ways but many colleges ask for any one of the results. So it's up to the student to decide which exam to appear for.Repetition of exams: IELTS can be taken unlimited number of times. TOEFL can be retaken as many times as wished, but cannot be taken more than once in a 12-day period. Same with PTE, it can be taken as many times as desired. You must wait to receive your scores before you can book your next test.Fee: The fee for these exams is Rs 9,300 for IELTS, Rs 10,000 for TOEFL and Rs 9,350 for PTE.Time to apply: Ideally, if you are aiming at the September intake you should appear for these exams by November, so that you can apply before the first deadline. The universities you will be applying to will mention which exam results they will accept. But if they give a choice to go for either of these, then the choice depends on you. The time required to prepare for IELTS/TOEFL/PTE would depend on the existing English language proficiency. You may require 2 to 4 months of preparation before the exam date.General examsGMAT - The Graduate Management Aptitude Test is used to measure the abilities of the potential MBA aspirant to undertake higher education in the field of business or management. It measures mathematical, english, and reasoning skills of the student.GRE - The Graduate Record Examination is another test required to be taken by students applying to graduate schools to pursue MA or MS. Increasingly many business schools are also accepting GRE scores for the purpose to granting admission for MBA.Repetition and Fee: You can give GMAT unlimited number of times, subject to five times a year and a gap of 30 days between two tests. You can take these tests with a gap of 30 days from the first time. The cost of GMAT is Rs 16,000, and GRE is Rs 12,000.Ideally, if you are aiming at the September intake you should appear for these exams by November, so that you can apply before the first deadline. The preparatory duration generally ranges from 4 to 6 months.Average Scores: The average GMAT accepted across universities is 520. Average GRE score is 145 for Verbal, 160 for Quantitative and 4.0 for Writing.It is important to note that these numbers are just for reference purpose, the actual scores may differ from university to university.5. Cost of livingThe cost of living depends heavily on what part of Australia will you be living in along with how much you will socialie. Some of the basic elements for living as an international student in Australia are:Accommodation rent ( on campus or off campus )Groceries and foodUtilities like electricity, water, gas, internetPhone billsText and reference booksAirfare for traveling back to IndiaOther elements which may differ from person to person would be:Dining outTravel and VacationCar rent and Car insuranceCable TV connectionSchool expensesThe tuition fee varies according to different universities, courses and the city. The tuition expenses in Australia might be up to $15,000 to $33,000 per year for an undergraduate course. And if you are thinking of applying to a postgraduate course, the cost would be $20,000 to $37,000 per year approximately.Living expensesThe Department of Immigration and Border Protection has financial requirements you must meet in order to receive a student visa. You must have $18,610 to study in Australia.Health insuranceOverseas Student Health Cover (OSHC) is compulsory and you will not be able to apply for your student visa until you have purchased a policy recommended by your host university. It includes cover for visits to the doctor, some hospital treatment, ambulance cover and limited pharmaceuticals (medicines). The Department of Immigration and Citizenship requires overseas students to maintain OSHC for the duration of time they are in Australia.ScholarshipsFee waivers are awarded to international students on the criteria of merit and need of it. Candidate with strong academics, good performance in standardised exams and extracurricular achievements would be eligible for scholarship awards and financial assistance. To benefit from these opportunities, one has to make sure to send all the required documents by particular deadlines. In addition to this, the presentation of the application is also important because one is judged by the image one projects.Documents required: The documents usually needed for a scholarship application are as follow, although the requirements may differ:Academic records and photocopiesA recent CVA letter of intent, which acts as a cover pageCertificate of Language Proficiency (TOEFL or IELTS scores)Letters of ReferenceLoansStudent Eligibility criteria: The first thing is to be aware whether you are eligible to apply for the loan or not. The general eligibility criteria that are followed by all the banks are –You should be an Indian nationalYou must have a strong academic recordYou must be seeking admission to a professional, technical or other course of studies. Most banks maintain that the selected course should be job oriented.You must have secured admission to foreign university institutions.You must be above the age of 18 years or else your parents can avail the loan.Eligibility for course: You may not get a loan on every course. Here are the kinds of courses that qualify for the education loan.For Graduation: Job oriented professional or technical courses offered by reputed universitiesFor Post Graduation: MCA, MBA, MS and also diplomasThese courses could be from foreign universities or institutes approved by the state and central government.Loan amount: If your total fee is Rs 10 lakh, the bank may offer to give a loan of 80% of the amount and you will have to put in the balance 20%. This is called the margin amount. The maximum loan amount offered by banks for studies abroad is generally around Rs 20 lakh.If your tuition fees amount is Rs 30 lakh, you’ll have to manage the rest of the funds by yourself. Some banks charge a processing fee, while others don’t. it may be a fixed amount or a percentage of the total loan amount. So if the bank charges you 1% as processing fee, that will be an additional cost you’ll have to cover.Documentation required: You will have to provide the acceptance letter sent by the University reflecting that you have been selected for the course and the schedule of fees. You will also need to show the mark sheet of the last qualifying examination to show your academic record.All banks have different requirement for documentation, so you need to confirm with the bank first.Repayment: Repayment starts only after the course period. If the student got employed within one year after completion of the course, the repayment should start immediately after the expiry of one month from the date of employment.If you do not secure a job within a year of completing the course, then repayment starts irrespective of whether or not you are employed. The loan is generally to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum period of two years. Generally, you will get up to a maximum number of 10 years to repay the loan.6. VisaConditionsIf you want to attend a University or college in Australia you will need a student visa. Following documents will be required for the application purposes –Valid Passport - Your passport must be valid for at least six months beyond your period of stay in the Australia.Nonimmigrant Visa ApplicationApplication fee payment receipt, as you are required to pay before your interviewConfirmation of Enrolment Form (COE) To obtain a visa to study in Australia you must be fully enrolled in an Australian institution and receive a “Confirmation of Enrollment (COE)”. These forms are issued by the Australian institution you will be attending. The forms are usually issued after the tuition fees have been received.Acceptance letter from your host university, this will include the proposed study planLetter from your current institution confirming status as a Study Abroad StudentOverseas health insurance receipt2 or 4 passport sized photographsNote: Additional Documentation May Be Required. During the personal interview additional documents may be requested by the interviewer. These may be documents to prove evidence of academic or financial status -Transcripts, diplomas, degrees, or certificates from schools you attendedScores from tests that your college required, such as the TOEFL, SAT, GRE, or GMATYour intent to depart Australia upon completion of the course of studyHow you will pay all educational, living and travel costsProcessThe average time taken by the Australian High Commission for the visa procedure is anywhere between 8 to 12 weeks depending on the individual’s background, so the students need to apply for their visas at least three months prior to their course commencement.As an international student, you must complete your course within the minimum course duration listed on your CoE. You must leave Australia after completion of your studies. If you wish to stay in Australia for your graduation ceremony, you may need to apply for a visitor class visa.Work permitStudent visa holders are allowed to work up to 40 hours per fortnight during their study in Australia. The spouses of Masters and PhD students can work unlimited hours. If you are doing voluntary, unpaid work, it is not included in the limit of 40 hours per fortnight.Visa for spouseThe partner of the student gets a Dependent Visa and a valid work permit for the same duration as the primary applicant. This is applicable only for Master's degree application.Please note that the Student Visas for Australia have changes effective July 1, 2016. Please read about the New Student Visa Guide for Australia to understand the various rules.7. Checklist before departureYour checklist before you leave for AustraliaBook airline ticketsArrange accommodation in AustraliaArrange transportation to/from the airport to home in AustraliaArrange your banking – consider buying traveler’s chequesCheck baggage and customs limitationsClear all paperwork with your home educational institutionGet your documents in order and make photocopies to store in your baggage and keep at home, including:PassportAirline ticketsTravel insurance certificateLetter of Acceptance by the educational institutionKey addresses and phone numbersA bank statement showing proof of fundsPrescriptions for any medication you are carryingTraveler’s cheques—if applicableMedical and immunization recordsAcademic history and university transcripts8. Once you landHomesicknessHomesickness is a predictable problem faced by most students at one point or another. It may occur at the beginning or even well into your year. Homesickness will pass. Be patient. Give it at least two weeks. If you are feeling sad, explain what is happening to your friends. Do not hide in your room; if you do, the homesickness will only worsen. Find your counselor on staff with whom you can talk about homesickness or other problems.Homesickness might be made worse by frequent, long telephone calls home. Most homesick students feel more homesick after a call home than they did before they picked up the phone. Try to limit yourself to one call home every week. The sooner you integrate into the university experience, the sooner your homesickness will pass.Shopping in AustraliaLarge shopping malls and supermarkets like Wal-Mart, Target in the Australia are one-stop shops for all of your daily needs. Be vigilant to ensure that all of your shopping is properly billed and that you keep the bills with you at all times.Learning basic cookingCooking for yourself will save you money. Indian food is expensive in Australia. It will also satisfy your urge to eat ‘your food’ during moments of cultural shock. Indian spices are not commonly available in smaller cities, but there are often shops on campus where you can get ingredients used in most Indian food.TravelEach large city has and provides different methods of public transportation, such as buses, taxis or trains. You might wish to rely on a private car for transportation. Even with the rising cost of petrol, private cars are the most economical and convenient mode of transportation because you get a lot of flexibility and freedom with your car. You can travel wherever and whenever you want, and don't have to depend on the schedule of public transport. However, before you buy your own car, you will have to use public transportation or ask friends for rides.Stay on Student VisaWhen you enter Australia, you may remain there as long as you are enrolled in the school to complete your academic program. After the program ends you may apply for the temporary graduate visa through either the new post-study work stream or the graduate work stream provided you meet the specific eligibility requirements. The duration of the subclass 485 visa you are granted will depend on the qualification that you have used to qualify for the arrangements.9. Post studies optionsPlacementsIndian students are used to the concept of campus placements and on-campus recruitment for getting jobs. There is no concept of placements in Australia, like most other countries. Most Australian Universities have a cell called a Career Services Center, which helps you get jobs and help you prepare for interviews. The on-campus recruitment is always driven by student interest. Companies that recruit through the university do not offer a job directly. What they offer is an internship or co-op. Companies like to see your work for few months before they hire you full time.Work visaGraduates who have completed a Bachelor’s degree, Master’s degree may be eligible to apply for a two year post-study work visa. Graduates who have completed a Master’s by research degree or a Doctorate may be eligible to apply for a three or four year post-study work visa respectively. Other graduates may be eligible to apply for an 18 month subclass 485 visa through the graduate work stream.

Thanks for A2A.There are two types of education loans - Secured education loan and Unsecured education loan.I suggest you check your loan eligibility here.You can pledge collateral or security to get a secured education loan. In this case, a co-applicant is not required. The loan is given against the value of the property that you pledge. Collateral can be immovable property, liquid assets (LIC Policy or FD), or third-party collateral, such as a relative or a friend’s collateral if they are willing to pledge it on your behalf.All You Need To Know About Education Loan with CollateralEducation loans with collateral have better terms and conditions and cost less. But if you don’t have collateral, then an unsecured education loan is the way to go. In this case, you’d require a co-applicant with sufficient income and a good CIBIL score. Income is an important factor as you’d have to make interest payments during your study period. A brother or a sister can also be your co-applicant.Apply for Education Loan without Collateral for Abroad StudiesTo understand more about the types of loans, watch this video -If you are unable to get both collateral or a co-applicant, GyanDhan can help you secure an education loan from an international lender without any collateral or cosigner. International lenders offer education loans to students aiming to study abroad.The process of an education loan is simple -Get admission to your target university/college. You will have to submit the admission letter to get the loan.Check your loan eligibility.Fill the loan application form. You can do so on GyanDhan’s website after consulting with our executives the best type of loan and lender for you.Submit relevant documents. You get a customized document checklist on applying for the loan via GyanDhan.If applying for a secured education loan, then get your property evaluated and submit relevant documents.If applying for an unsecured education loan, then submit bank statements and ITR.Pay the processing fee and you will receive the sanction letter.Submit any other documents that the lender requests and sign the loan agreement.Once you’ve signed the loan agreement, you can get the amount disbursed as and when your university demands.I hope this helps you. As I mentioned, your education loan process would be immensely easy and hassle-free on applying for it via GyanDhan. We are an education-focused financing platform. Having partnered with several lenders, we help students secure funds from the lender that best suits the student’s needs. Our executives will assist you throughout the loan process. Best of all? Our services are absolutely free of cost.If you have any further doubts, do post them on GyanDhan’s Discussion Forum.All the best!