If you want to fulfill your dream of studying in Australia, you should think about the financing in good time. Because studying at the excellent universities in Sydney, Melbourne and Co. has its price. In addition to tuition fees, international students also have to pay for the cost of living and the long journey to get there. How good that there are several different financial aids for studying in Australia.
Funding for a semester abroad in Australia
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There are various funding options for studying in Australia.
Students who want to study in Australia for one or two semesters as part of a study abroad program have the following funding options:
The most popular financing option for a semester abroad in Australia with German students is the Auslands-BAföG. Even students who do not receive domestic BAföG have a chance of this type of financial support due to the higher assessment limits for international BAföG. Students who have been granted BAföG for their semester abroad in Australia can receive the following benefits:
Grant for tuition fees at the Australian university of up to EUR 4600 for a maximum of one academic year
Subsidy for travel expenses of EUR 500 each for a return flight
Basic monthly requirement of up to EUR 649
Financial support from the German health and long-term care insurance in the amount of up to EUR 71 for health insurance and EUR 15 for long-term care insurance
Contribution to health insurance for studying in Australia (Overseas Student Health Cover)
Foreign surcharge for Australia of up to EUR 65 per month
The contact person for BAföG abroad for a semester abroad in Australia is the Studentenwerk Marburg.
Funding options for a semester abroad in Australia also include various scholarships. The German Academic Exchange Service (DAAD), for example, supports semester stays with the so-called PROMOS scholarships. In addition to lump sums for tuition fees, these usually include a grant for travel expenses and financial support for living expenses. The maximum funding period is six months; the application is made through the home university.
College Contact also regularly awards partial scholarships for a semester abroad in Australia or elsewhere in the world. The scholarships have a value of EUR 1000 each and are aimed at students from a wide variety of disciplines.
In addition, scholarship holders from German foundations and organizations can also receive financial support from these foundations during their semester abroad.
Not only from the German, but also from the Australian side, there are scholarships for semesters abroad: various universities in Australia, for example, offer partial scholarships for semester students that cover part of the tuition fees.
If it doesn’t work with a scholarship or BAföG abroad, students have other options to finance a semester abroad in Australia. These include classic student loans and, depending on the subject, loans through education funds. Both are available from different providers. Students who want to use this financing option should compare several offers. You should also be well informed about the interest rate and repayment methods.
Semester students are allowed to work up to 20 hours a week. During the semester break, for example in the event that someone studies for two semesters at an Australian university, the weekly working hours are not limited. Semester students who want to work in a semester abroad do not need a separate work permit. This is already included in the student visa.
Financing options for a full degree in Australia
Unlike a semester abroad, a full course in Australia is not eligible for BAföG abroad. A full course of study can only be funded within Europe with BAföG abroad. However, there are other funding options for a full study in Australia, although not as much as for a semester abroad.
Scholarships for a complete degree in Australia are almost exclusively from the Australian side. At universities in Australia, for example, there are full and partial scholarships for international students who want to complete a full course of study there. These are often tied to specific study programs and departments. Scholarships are usually awarded on the basis of the previous school or academic achievements.