Australia’s Generous Financial Support for Overseas Students!

Financial support for international students in Australia 2023 is one of the most needed information for aspiring overseas students in this “Great Southern Land”.  

International students are one of the economic drivers in Australia, even more in terms of social, cultural and skilled workforce benefits. Therefore, it is common to see a lot of financial assistance for them. Whether it is from the government, universities, or the private sector, you just need to surf the internet to find the information.

If you do not have time to look for it, don’t worry! In this article, education ONE will summarise the kinds of financial support for international students in Australia in 2023. Here’s what you are going to read in this article:

• Talking About Financial Support For International Students in Australia? Scholarships For The Win!
• How Can We Talk About Financial Support for International Students in Australia Without Discounts? 
• More questions related to financial support for international students in Australia

Check it out now. 

Talking About Financial Support For International Students in Australia? Scholarships For The Win!

Even if it is partial or fully-funded financial assistance, scholarship information is always a top search for international students. Here are some of the most exciting scholarships opportunities by the Australian government for international students in 2023. 

Australia Awards Scholarships 

The Department of Foreign Affairs and Trade administers Australia Awards Scholarships, which are long-term awards. They intend to contribute to Australia’s partner countries’ development needs following bilateral and regional agreements. This is one of the scholarships that surely will pop up in your mind when you hear about financial support for international students in Australia.

They enable people from developing countries, particularly those in the Indo-Pacific region, to pursue full-time undergraduate or postgraduate studies at participating Australian universities and Technical and Further Education (TAFE) institutions.

Benefits:

Australia Awards Scholarships are available for the minimum time required to complete the academic program specified by the Australian higher education institution, including any preparatory training. The following benefits generally apply:

• full tuition fees
• return air travel–payment of a single return, economy class airfare to and from Australia, via the most direct route
• establishment allowance–a once only payment as a contribution towards accommodation expenses, text books, study materials
• Contribution to Living Expenses (CLE) – a fortnightly contribution to basic living expenses paid at a rate determined by the department.
• Introductory Academic Program (IAP)–a compulsory program prior to the commencement of formal academic studies covering information on living and studying in Australia
• Overseas Student Health Cover (OSHC) for the duration of the award (for award holder only)–provided to cover the scholar’s basic medical costs (with the exception of pre-existing conditions)
• Pre-course English (PCE) fees–if deemed necessary PCE may be available for students for in-country and/or in-Australia training
• Supplementary academic support may be available to ensure a scholar’s academic success or enhance their academic experience
• Fieldwork (for research awards and Masters by coursework which have a research component where fieldwork is compulsory) may be available for eligible research students for one return economy class airfare via the most direct route to their country of citizenship or within Australia.

For more information, click here. 

Destination Australia 

Destination Australia provides funding to eligible tertiary education providers so that domestic and international students can study and live in regional Australia. 

The scholarship funding for the 2023 round of the program is up to $15,000 per student, per year, for approximately 480 domestic and international students starting their studies in 2023.

Additional objectives for 2023 include:

• Helping to fix areas of skills shortages and fill future skills needs by prioritising domestic and international students studying courses that are aligned with the Australian Government’s National Skills Priority List
• Providing scholarships for domestic students from underrepresented groups to enable them to access tertiary education in regional Australia.

To apply for this scholarship, you can apply it directly to the eligible institutions that you want. The list of the institutions can be seen here, and for more detailed information about this scholarship, click here. 

Short-term Mobility Opportunities for Australian and Asian University Students

The Destination Australia Cheung Kong Exchange Program assists Australian universities in providing short-term mobility opportunities for incoming Asian students and outgoing Australian students. The Australian Government and the Cheung Kong Group have collaborated to fund the Destination Australia Cheung Kong Exchange Program. 

The Program assists Australian universities in providing short-term mobility opportunities for both outgoing Australian students and incoming Asian students between Australia and the Asian countries listed here: Brunei Darussalam, Cambodia, China (including Hong Kong), India, Indonesia, Japan, Republic of Korea, Laos, Malaysia, Mongolia, Myanmar, Republic of the Philippines, Singapore, Thailand and Vietnam. 

Each year, the Program will support approximately 180 students. Mobility experiences must last between two weeks and one semester.

Students can only apply for a short-term mobility experience supported by the Destination Australia Cheung Kong Exchange Program through their university. More detailed information can be seen here.

Scholarships To Study a Higher Degree by Research

The Research Training Program (RTP) provides block grants to higher education providers (HEPs) on a calendar year basis to support both domestic and international students pursuing research doctorate and research masters degrees, also known as higher degrees by research (HDRs).

Students can be offered RTP Scholarships for one or more of the following:

• tuition fees offset
• stipend for general living costs
• allowances related to the ancillary cost of research degrees.

Applications for a new RTP stipend, allowance, or fee reduction must be made directly to a participating university. Universities are in charge of overseeing the RTP application, selection, and offer processes. Students should approach their chosen university’s scholarship office for information on how to apply for the RTP and critical deadline dates.

Still have any questions? You can read the FAQs here, or book a free consultation with us. 

Tuition Protection For Students

One of the worst scenarios that might occur to you during your study in Australia is that your education providers cannot fully deliver their course of study due to unforeseeable circumstances.

So here comes this Tuition Protection Service (TPS) that assists international students facing this unfortunate situation. 

Australia has a strong reputation for providing high-quality education. However, an education provider may close entirely, fail to begin a course in which students have enrolled, or discontinue offering it halfway through. This situation is called a default. Even if the school is closing, your education provider must assist you.

Your provider must:

• arrange for you to finish your study with another provider, or
• give you a refund of unspent tuition fees you paid directly to your provider.

What can you expect from the TPS?

The TPS can help find another provider who offers a comparable course. If they cannot find a suitable replacement, they will arrange for a refund of any unspent tuition fees.

When an education provider defaults, the TPS contacts the students affected and invites them to an information session where they can learn more about the TPS’ assistance.

There are many other forms of financial support for international students in Australia. Besides the financial aid from the government, universities in Australia often offer scholarships for the students with exceptional academic performance, such as an International Student Merit Scholarship or Academic Excellence Scholarship. 

You can check each universities’ website for your desired course and scholarship. 

Need help choosing which Australian university is best suited for your future endeavours? Let’s discuss this with our Career Development Consultants for free! 

Also read our article about the reasons for student visa refusal, so you can prepare better for your student visa application in 2023. 

How Can We Talk About Financial Support for International Students in Australia Without Discounts?

Who doesn’t love discounts? As an international student in Australia, plenty of discount schemes are available for you. Below are some of them. 

UNiDAYS

UNiDAYS is for students who attend college or university and have a personal institution email address or credit card-style student ID issued directly by their institution. To be eligible for a UNiDAYS account, students must be at least 16 years old.

Benefits: 

• Access discounts on a wide range of items, from clothes and beauty products to computers and travel through the UNiDAYS website
• Easy access to make the account and enjoying the discounts 
• Enjoy discounts from big and famous brand, such as Apple and Urban Outfitters
• Competitions and giveaways that can brings you more benefits

More information click here. 

International Student Identity Card (ISIC)

The International Student Identity Card (ISIC) is the only internationally recognized proof of full-time student status endorsed by UNESCO. The card displays to all who see it that you, the cardholder, are a full-time student and gives you access to over 150,000 discounts worldwide.

In collaboration with over 1,500 academic institutions and local governments, the ISIC offers a globally proven mechanism for facilitating social and economic contributions to education and social welfare.

Benefits:

• A wide range of discounts in different categories, such as accommodation, entertainment, food and drink, study, and travel.
• With an ISIC card, wherever you go you’ll be able to prove your full-time student status, plus you can have access to student services and facilities wherever you are
• Just need AUD 30 for the card cost.

Excited about this discount? Click here for more information.

Spotify Premium discounts for international students in Australia

There is a Premium Student program from the infamous music streaming app, Spotify. If you are a student enrolled at an accredited college or university and above 18, then yes, you will be eligible for this program. 

Benefits:

• Unlimited ad-free music listening and more.
• Free for 1 month, and $6.99/month after (while you’re in school). 
• Cancel anytime.
• You can get Premium Student for up to 4 years.

No-ad music is on your way! Read here for more information.

StudentUniverse

StudentUniverse is one of the world’s leading travel booking sites for students and young adults under 30. Discounts on flights, hotels, and car rentals, they got your back! They partnered with more than 43 airlines in Australia, including Emirates, Singapore, Air New Zealand, Virgin Australia, Malaysia, Air China and more. 

Benefits: 

• Offer frequent promo codes
• Become the member for free
• Discounts on domestic and international flights 

Click here to see all the available discounts and how to get it.

Student VIP 

Do you know where to get cheap textbooks, high-quality subject notes, and helpful tutors? You can consider exploring the Student VIP’s website. The most exciting part is you can search your needs based on which university or region you are looking for. 

Benefits:

• 100% free to join StudentVIP
• You can buy cheap textbooks or sell your used textbooks.
• Cover a wide range of university subjects, from Business, Law, Science, to creative subjects. 

Wander no more, click here to get more detailed information.

Transportation discounts for international students

As an international student, you might be able to apply for transport concessions depending on where you live. The following Australian states are the ones that offer concessions for transportation:

1. Victoria
2. Tasmania
3. Canberra
4. NSW
5. Northern Territory
6. South Australia
7. Queensland

For more information, you can read it at the Study in Australia Government website.

Who is entitled to a concession fare?

• International students with an approved Australian Government scholarship or exchange place are eligible for concessions in NSW, whereas full-fee paying international students are not.
• International students who pay full tuition are not eligible for a concession fare in Victoria.
• All full-time students (including international students) are eligible to receive a concession fare in the Australian Capital Territory, Queensland, Tasmania, South Australia and Western Australia.
• Public transport is free for all full-time students in the Northern Territory.

How do you feel after reading about all the financial support for international students in Australia above? Does it intrigue you more to study in Australia? Start preparing your future study with education ONE! Book a free consultation now. 

More questions related to financial support for international students in Australia

How to win scholarships? 

Here are some tips for winning a scholarship:

1. Start early and research potential scholarships.
2. Read the eligibility requirements and follow the application guidelines.
3. Customise your application and essays to the specific scholarship.
4. Show strong academic and extracurricular achievements.
5. Ask for recommendation letters from teachers, coaches or other community members who can vouch for your abilities.
6. Proofread your application and have someone else review it.
7. Apply to multiple scholarships to increase your chances of winning.
8. Follow up with the scholarship provider if you have not heard back.

Do you need other tips and tricks to realise your dream to study in Australia? Contact us now. 

Can international students take private student loans? 

A private loan is one of Australia’s most basic types of international student loans: you borrow money from a bank or similar lender and repay it (with interest) over a set period. These loans can be secured (tied to collateral) or unsecured (not connected to collateral). However, interest rates on unsecured loans are typically higher. 

If you have thought about taking a loan from a bank, please note that there might be specific requirements you need to fulfil before submitting a loan, and each bank has its regulation. 

Read our guide about the best banks in Australia for international students to help you decide where to open a bank account.

Are international students eligible for HELP from Study Assist? 

Temporary visa holders are classified as international students. International students cannot get a CSP or a HELP loan, and must pay the international student fees set by their higher education provider.

How to calculate the amount of money needed for studying in Australia? 

You need to have enough money that is genuinely available to you to pay for your tuition fees, travel and living costs for you and your accompanying family members while you are in Australia. Try our free and online Student Visa Funds Calculator. 

Now, Let’s Start Preparing For Your Study in Australia!

What’s the point if you know all the information above without going for enrolment and student visa application? This is where our role comes in!

Alongside our Registered Migration Agent and professional consultants, please do not hesitate to contact us to get the best tips and strategies to make your dream of studying in Australia come true. 

education ONE is an experienced education agent with in-house Migration Agents. If you are unsure of whether you have met all the requirements for your Migration through Study plan in Australia, book a FREE study and Student Visa Consultation with one of our Career Development Consultants or contact us education ONE Australia through email at [email protected] or via phone on at 1300 083 663.

Our in-house Migration Agents have a 99% success rate when it comes to all visas, and their main aim is to help people migrate to Australia.

We have years of experience helping hundreds of international students in meeting their visa requirements, no matter how complicated the circumstances. 

We treat each individual differently based on their situation in order to determine the best options for their future Visa. We look forward to assisting you with your Visa and your dream of working after studying in Australia.