Welcome to Study Loans. This credit guide sets out important information we need to give you under the National Consumer Credit Protection Act (NCCP). When you have a Study Loans loan, your credit provider is Study Loans Australia Pty Ltd ABN 13 618 345 314 Australian credit licence number 498589. You can contact us on 1800 566 699, or through our contact details below.
We will not enter into a loan contract with you, or increase your credit limit under an existing contract, if the loan or increase is unsuitable for you. A loan contract is “unsuitable” for you if it doesn’t meet your stated requirements and objectives, if you are unlikely to be able to meet the repayments or if the repayment obligations may cause you substantial hardship.
To assess that a loan or credit limit increase is not unsuitable for you, we are required by the NCCP to conduct a “suitability assessment”. To do this, we must make reasonable inquires about your requirements and objectives, your financial situation and verify your financial situation.
You may request us to give you a copy of our assessment without charge before we enter into a loan contract with you, permit a credit increase or within 7 years of the date the loan contract is made. We are not required to give you a copy if your loan does not go ahead.
After receiving your request, we must give you a copy of your assessment:
1) if you ask before the loan is made or credit increased: before you sign the contract;
2) if you ask within 2 years of the loan contract date: within 7 business days; and
3) if you ask after 2 years of the loan contract date: within 21 business days.
We hope you are completely satisfied with our services. However, if you have a complaint about our service or your loan, you should firstly notify us by contacting our Complaints Manager by telephone, email or in writing to:
Phone: 1800 566 699
Mail: Level 5, 570 St Kilda Road, Melbourne 3004
If you’re writing to us, remember to include your loan contract details and contact information. We will acknowledge the receipt of your complaint or dispute, and will addres it promptly, and in accordance with its degree or urgency. We will try to resolve your complaint and provide you with a response as soon as possible. In any event, we will provide you with a written response within 45 days. We are not required to write to you if we resolve your dispute within 5 days.
If your complaint cannot be resolved to your satisfaction by us, or within 45 days, you have the right to refer the matter to our external dispute resolution provider, the Credit and Investments Ombudsman Limited (the CIO) by contacting them on:
Phone: 1800 138 422
Mail: PO BOX A252, South Sydney, NSW 1235
Quote our membership number: M0039228
If you have any questions about this Credit Guide or anything else about our services, just ask at any time. We’re here to help you.