US students in Australia save thousands pairing with a currency exchange provider

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Rachel Doyle
Rachel Doyle
Senior Content Specialist
Rachel has over 10 years’ communications and writing experience, having started her career in financial services where she spent nine years working in various roles. She started out in fund… Read more
  • Aussie universities grab additional top 100 slot in world rankings
  • Seven Australian universities feature in this year’s top 100 universities within the QS World University Rankings® (2018)

This is one place up from the 2017 list. The Australian National University based in Canberra, the country’s capital, edges forward into the top 20 universities, featuring 20th. This ranking puts it ahead of its US peers such as the University of California (Berkeley), University of California, Los Angeles (UCLA) and within reach of Yale (ranked 16th). In the UK it beat King’s College London and University of Edinburgh both ranked joint 23rd). Over the last three years, the US dollar has appreciated against the Aussie dollar, meaning that it costs less to study in Australia than in did in 2014. If you are considering gaining your bachelors oversea, studying in Australia is a good option. Savvy US students save more by using a currency exchange broker.

Once I have graduated, can I stay and work?

The Australian government overhauled their visa system in 2017, resulting in some big changes as well as removal of job classifications on the lists. The good news is that if you started education in Australia from December 2011 onwards, you can apply for a 485 visa for temporary graduate work. However, for US students who entered Australia before November 2011, find themselves being unable to apply for temporary graduate visa status due to the removal of 457 visa, which existed to give graduates the opportunity to remain on her shores legally and work.

How can I save money while I am studying?

When sending US dollars abroad to pay for your Australian education, use a currency exchange broker to make the most for your US dollars. These brokers charge significantly less than the banks, with a rate much closer to the interbank rate and often without any sort of fee. On a large money transfer, there is the potential to save thousands over a bank transfer. Their rates are much closer to the interbank rate (usually between 0.5-1.5% spread), whereas a bank will give minimum 4% upwards.  You can open personal accounts with these providers. Some currency exchange providers can facilitate a regular payments schedule and even accept a minimum payment as low as $1 being transferred. Many of these currency exchange brokers can facilitate a regular payments schedule, so if you make regular payments on your student accomodation or fees, then you can make savings here, avoiding fees. Others are able to accept trading on their platform 24/7. As well as being able to manage your accounts on the go, through an Android or IOS app, some providers also enable you to carry out payments through Facebook messenger or Whats app. Take a look at our currency provider quote tool which contains details of the most cost-effective money transfer companies when sending money to Australia.


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