Finance helping
Australian students
reach their potential.

The Loan

Study Loans has been purpose built for students and education providers - we are the specialists in student finance.

We provide the funds for approved courses direct to the approved education provider on behalf of the student for loan amounts between $2,001 and $15,000. Our loan terms range from 6 to 48 months and we aim to provide interests rate from 11.5% p.a, based on financial and educational data.

Interest Rates

Our interest rates and fees have been set up to ensure full transparency for our vocational education and university students - no giveaways or hidden costs. This ensures students are informed from day one and there’s no surprises along the way. Fees, including a small monthly management fee of $2.50, a drawdown fee of $25 per drawdown payment and a one-off establishment fee of $200, are explained in full prior to approval so all parties are aware of how much is owing and what it is for.

Interest rates are calculated on a risk based pricing model that take the students financial situation and the chosen course. Our aim is to offer competitive interest rates inline with these models, ranging from 11.5% p.a. The interest rates are variable in nature with the rate calculated daily and charged monthly on the outstanding balance of the loan.


Simple repayments for students

Repaying your loan is as easy as setting up a weekly fortnightly or monthly direct debit and if you decide to pay more than the minimum, top up payments can be made using BPAY. If you miss a direct debit payment, a $25 penalty applies each month the account is in arrears. At Study Loans, we don’t believe in punishing students who repay their loans back earlier than expected, so there are no penalties for doing so. In fact, if you manage to get ahead on your repayments and need a break, a repayment holiday can be arranged for up to three months.

Check your eligibility

Frequently Asked Questions

What is Study Loans?

Study Loans is a new kind of finance for students seeking assistance in paying for their education.

Who can borrow with Study Loans?

Study Loans offers loans to people seeking to complete tertiary (vocational and higher education) education in Australia. Study Loans works with a select number of education providers. Please see our complete list of approved education providers under the "Students" tab and select "Education Partners". Students must be eligible to receive funding from Study Loans.

How are funds disbursed?

Funds are directly disbursed to the education provider as you (the student) progress through the selected course.

Is Study Loans regulated by ASIC?

Yes, Study Loans provides regulated consumer loans under our Australian Credit Licence 498589. In doing so, it must comply with the National Consumer Protection Act 2006 (Cth), the National Credit Code and must meet ASIC's requirements in relation to consumer lending.

How do repayments work?

Loans can be repaid weekly, fortnightly or monthly via direct debit from your nominated bank account. To help you stay organised, we'll also send you a reminder the day before repayments are due to come out of your account.

How do the interest rates, fees, and charges work?

Students pay a weekly, fortnightly or monthly repayment, where an indicative interest rate range of 11.5% p.a is applied, along with a loan establishment fee ($200 one-off) and a per unit drawdown fee of $25 per unit.

Can I repay some or all of my loan balance early?

Yes - at any point you can repay the loan in full. Study Loans has no early repayment fees.

When and how do I need to apply for funding?

You can apply for funding at the same time as you apply for your chosen course. Please make sure the selected course and education providers are approved by Study Loans.

Who provides the Study Loans funding?

Study Loans is working with a range of financial institutions to generate funds to provide to students.

What is the Annual Comparison Rate?

The Annual Comparison Rate is a calculation prescribed by regulation 71 of the National Consumer Credit Protection Regulations 2009 and generally comprises both the annual interest rate, plus the known credit fees or charges applicable to the loans. This gives transparency to the actual cost of the loan so that consumers can compare loan products, and lenders cannot mislead consumers by hiding the true cost of credit in fees.

What is the maximum loan size we offer approved borrowers?

Subject to suitability and lending criteria, we may approve loans of up to AUD $15,000.

What is the minimum loan size we offer approved borrowers?

Subject to suitability and lending criteria, we may approve a minimum loan size from AUD $2,001.

Where do you send the funds?

Once you are approved, all funds will be sent directly to your education provider. Funds are released to the education provider on a per unit basis or a cluster of units. The timing is determined by your progression through the course.

What is the application process like?

We work hard to make the process as straightforward and simple.

1) Choose your education provider by going directly to them or to our "Courses" tab.

2) Choose your course and apply directly through us.

How are loans different from the federal government?

The federal government offers income-based repayments. For more information on Federal Student Loans, please go to

What happens if I fail a unit?

We recommend you first speak to your education provider about re-sitting a unit. If this isn’t possible you can contact our friendly team on 1800 324 909 to discuss further.

Can a parent or guardian take out the loan on behalf of the student?

Yes - Study Loans now allows a parent or guardian of a child seeking a loan for education to be able to take the loan out in their name instead of the child. This will be beneficial for those students who are currently not earning over $20,000 per annum, but have a parent or guardian willing to take out the loan in their name.

What happens if I defer my education?

You would still be required to make repayments based on the tranche that you have ‘activated’, please refer to the definition of a "tranche" for more information.

What is a drawdown?

Funds for your course are released in tranches, which are defined by either a single unit or cluster of units. As you progress through your course and move onto the next unit or cluster of units, Study Loans will release your funds for that drawdown - think of tranches as both course milestones and payments milestones.

What happens if I have a complaint?

1) Call our support team on 1800 324 909

2) Email any feedback to:

3) Write a letter addressed to: Study loans Dispute Resolution Officer L5/570 St Kilda Road, Melbourne VIC 3004

4) If you have tried the above options and the issue is not resolved, you can contact an external dispute resolutions provider - Credit and Investments Ombudsman who can be contacted on 1800 138 422 or They offer an impartial dispute resolution scheme to assist consumers resolve complaints with participating financial services providers.

Is it possible to only borrow a fraction of the course cost?

Yes, when you speak with your education provider, please advise them how much you can pay upfront and how much you will need to borrow.

Are my bank details safe with Proviso?

Yes, they are. We are limited to a read-only access of your statements. In no way can we make any transactions or view your passwords. Proviso is independently tested and audited by external security experts and encrypted with bank-level security.

Will you run a credit check on me?

Yes, at the formal application stage, we will run a credit check. If you are simply checking what your repayments would be we suggest using our website's calculator or call our support staff for your indicative repayment ranges.

How long is my approval for?

Your approval is valid for 60 days from your formal approval.

Can a spouse or partner take out the loan on behalf of the student?

Unfortunately not. Study Loans does not offer spouse or partner loans.

Can I get a loan for an Education Provider you are not partnered with?

Unfortunately not. However, we are always onboarding more Education Providers to be able to offer loans to as many students as possible. If we do not have your chosen Education Provider onboard, please still get in contact by phone or contact form so we can get approach the Education Provider.

Do you offer loans to international students?

Unfortunately not at this time. It is something we are working on and hope to be able to offer in the near future.

Now that I'm approved, when do I begin my repayments?

Once approved, your first direct debit will begin after the course start date.

Is a Parent Loan different to being a guarantor?

Yes, they are two completely separate things. A Parent Loan means that a parent will be the borrower and it will be them repaying weekly, fortnightly or monthly.

What if I am paid cash in hand?

Unfortunately we do not accept cash in hand as your way of income.

What if my only income is Centrelink?

Unfortunately we do not accept Centrelink as your sole income.

What is the difference between VET Student Loans and Study Loans?

VET Student Loans is an income contingent program offered by the Australian Government. Study Loans is a private company offering loans for students with far less restrictions than VET Student Loans.

What now?

Contact your chosen education provider to apply or get in touch if you have more questions about Study Loans.

Study Loans Australia Pty Ltd (ABN 13 618 345 314) Australian credit licence 498589
whose registered office is at Level 5, 570 St Kilda Road, MELBOURNE VIC 3004.