Student Loans

A student loan is designed to fund your education with secured and unsecured student loans, flexible repayment terms, and competitive interest rates – secure your student loan and turn your career dreams into a reality.

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Student Loans Australia – Quick & Easy Student Start Up Loans

Student loans in Australia are provided by the Government and the private financing sector to ensure your education financing needs are taken care of!

Find out everything you need to know about student loans and how to apply online.

Frequently Asked Questions

Student loans available in Australia

Getting a student loan in Australia is easy when you are able to compare the different loan options available to you.

The cost of tertiary education in Australia is among the highest in the world.

You can expect a high return on your investment since you will be able to find a well-paid job and start a successful career after graduation. For the time being, however, you need to focus on paying for your studies.

In Australia, student loans are provided via a government-run program.

Here you will find information that you require as a prospect or existing student looking to get finance.

5 Student loan schemes to choose from

Student loans in Australia are available via the Higher Education Loan Program (HELP). This program has 5 different schemes to support students in different circumstances.

1) HECS-HELP

This scheme is designed to pay Commonwealth-supported students to pay their contribution.

2) FEE-HELP

This scheme offers loans to fee-paying students in order to help them cover these expenses.

3) SE-HELP

By participating in this scheme, students can get finance to pay the fees for student services and amenities which they use.

4) OS-HELP

This scheme helps Commonwealth-supported students to cover their expenses when studying overseas.

5) VET-FEE-HELP

This scheme helps students enrolled in eligible higher-level vocational education and training courses to pay their tuition fees.

Since the FEE-HELP loans are the most widely used of all, this guide will focus on them.

What is a FEE-HELP student loan?

These loans are designed to help you pay your tuition fees only.

They are not intended for covering other expenses such as accommodation, transportation, and study materials.

Find out how they work.

1) Student loan eligibility

In order to qualify for a FEE-HELP loan, you have to be an Australian citizen or a humanitarian visa holder enrolled in an eligible unit of study at an educational institution that participates in the program. It does not matter whether you are a full-time or part-time student. Approval is not subject to a means test.

You can qualify irrespective of your income or the income of your family.

2) Student loan amount

You can use the loan to pay the total tuition fee amount or a portion of it only. There are loan amount caps which you have to be aware of. Currently, students enrolled in medicine, dentistry, and veterinarian science courses are able to borrow a maximum of $120,002.

All other students can borrow a maximum amount of AU$96,000.

3) Interest, fees & charges

No interest rate is charged on FEE-HELP loans. There is a fee of 25% of the loan amount which is charged only when the loan is extended to an undergraduate student. This fee is added to the total amount due. It does not result in a reduction of the borrowed amount.

The loan is subject to indexation in line with the Consumer Price Index. It is indexed on an annual basis after the first eleven months of its issuing.

4) Repayment

You will have to begin paying back your student loan after you graduate and start earning an employment income higher than a set threshold. This threshold is adjusted on an annual basis. Currently, it is $51,309. The size of the annual loan payment is calculated as a percentage of your employment income. The higher your income is the higher the percentage is. The payments are made through the national taxation system.

You can also make voluntary repayments to pay off the loan sooner. 

5) Applying for student loans in Australia

You need to obtain a Request for FEE-HELP assistance form, fill it out and submit it to the educational institution in which you are enrolled.

You need to have a tax file number (RFN) in order to apply.

You can readily take advantage of student loans in Australia.

Additionally, financial support is available via the Youth Allowance and Austudy schemes, which offer grants based on means-testing. Commercial banks can extend loans to students if they meet their eligibility criteria.

Parents can also take out loans to support the tertiary studies of their children.

Student loan calculator

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List of direct lenders offering Student loans

  1. Commonwealth Bank Student loan

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    • Term up to 7 years
    • Interest from 12.99%
  2. CQUniversity Student loan

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    • Quick online appliation
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  3. Credit24 Student loan

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    • Loans up to $10,000
    • Term up to 36 months
    • Interest up to 48%
  4. Monash University Student loan

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    • Loans up to $3,000
    • Term up to 12 months
    • Finacial assistance
  5. RMIT University Student loan

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    • Loans up to $1,000
    • Term up to 12 months
    • Interest-free loans
  6. Southern Cross University Student loan

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    • Loans up to $1,500
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  7. The Academy of Design Student loan

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    • Reliable student loans
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  8. The University of Melbourne Student loan

    The University ...

    • Loans up to $5,000
    • Unsecured student loans
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  9. The University of Sydney Student loan

    The University ...

    • Education loan schemes
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  10. The University of Western Australia Student loan

    The University ...

    • Compare loan options
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  11. University of Adelaide Student loan

    University of A...

    • Loans up to $152,700
    • Interest-free loans
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  12. University of Canberra Student loan

    University of C...

    • Loans up to $2,000
    • Financial support
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  13. University of the Sunshine Coast Student loan

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    • Scholarships
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  14. Victoria University Student loan

    Victoria Univer...

    • Affordable loan options
    • Simple repayment plans
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  15. Swinburne Student loan

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    • Real industry experience
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  16. University of Newcastle Student loan

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    • A global leader
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  17. James Cook University Student loan

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    • Research and training
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  18. Federation University  Student loan

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  19. ArtsHub Student loan

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    • Reliable student finance
    • Quality courses
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  20. CQ University Student loan

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    • Loans up to $1,000
    • World-class research
    • Fixed interest rates
  21. Deakin Student loan

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    • Invest in your skills
    • Real-world learning
    • Government subsidies
  22. Bongiorno Student loan

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    • Fund your final years
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  23. Mozo Student loan

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