IndiaCitizens of India can fund their Bond University degree in a variety of ways, these include: ScholarshipsEndeavour AwardsThe Endeavour Awards is the Australian Government’s internationally competitive, merit-based scholarship program providing opportunities for citizens of the Asia-Pacific, Middle East, Europe and the Americas to undertake study, research and professional development in Australia. Indian students are welcome to apply for Australian Government scholarships through Endeavour Awards, which brings leading researchers, executives and students to Australia to undertake short or long term study, research and professional development in a broad range of disciplines. For more information, please visit www.deewr.gov.au/International/EndeavourAwards/Pages/Home.aspx Bond University ScholarshipsBond University welcomes scholarship applications from prospective Indian students with outstanding academic achievements. For more information and details on how to apply, please visit the Scholarships page or email scholarships@bond.edu.au. LoansCredila Private Loan Program
These loans are available to undergraduate and graduate students. Funds are provided by Credila, a division of HDFCBank of India (one of the four largest in India)
The loan is able to cover the full cost of attendance, with the tuition and fees component being paid directly to the University.
If you wish to apply for this loan, you can apply online at:
www.myglobaled.com
The loan can be for a multiple year period. The University does not need to certify the loan; Credila verifies the costs via admission and enrolment documents provided by the student.
The funds for the tuition and fees component are sent directly to the University. The living allowance is sent to the student’s and co-signer’s bank account in India.
These are the terms and conditions of the loan:
Eligibilty
Student Borrower : Indian citizen over 18 years old accepted at an eligible institution
Co-Borrower (mandatory) : Indian citizen over 18 years old with an Indian bank account. May be parent, guardian, or other relative. Both borrowers must meet Credila underwriting criteria.
Loan Amounts:
Minimum : 100,000 Indian rupees (approx. $2,200 US*)
Maximum : Cost of Education (Maximum borrowing without collateral dependent on underwriting,
grade level and institution attended**)
• Multiple year borrowing allowed
Accepted Collateral: House, apartment, non-agricultural land, commercial land
Interest Rate:
Credila Benchmark Lending Rate (CBLR) + percentage based on underwriting criteria
(currently 10.95% – 12.95%), Adjusted Quarterly
Accrual & Capitalization:
Simple interest, paid from first disbursement, thus no capitalization
Origination Fee:0.5 to 1.5% based on underwriting criteria, payable by check prior to receiving loan approval letter
Disbursement Dates :
Tuition & fees: As determined by institution
Living expenses: As determined by student
Method:
Tuition and fees wired directly to institution
Living costs disbursed to student/co-borrower in the bank account from where the
repayment will be drawn
Repayment:
Term : 7 – 10 years
Interest payments begin in the month after initial disbursement, charged only on amount(s) disbursed
Principal & Interest Begin 6 months after completion of studies or 3 months after student withdraws
Method : Automatic monthly electronic debit from bank account
Application : Online at www.myglobaled.com
Bank LoansIndian students may apply for a Bank Loan to cover most of the costs of their study in Australia. For more information and list of Australian Government approved financial institutions, please visit http://www.ausgovindia.com/ndli/vm_studyloans.html
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