Helping students reach
their potential.

The Loan

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

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 12 to 48 months and we aim to provide interests rate from 12% to 18%, based on financial and educational data.

Interest Rates

Our interest rates and fees have been set up to ensure full transparency for our 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 tranche 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 education providers history into consideration. Our aim is to offer competitive interest rates inline with these models, ranging from 12% to 18%.

The interest rates are variable in nature with the rate calculated daily and charged monthly on the outstanding balance of the loan.

13.7%

Repaying Your Loan

Repaying your loan is as easy as setting up a 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 education in Australia. Study Loans works with a select number of education providers (please see our complete list of approved education providers below).

Students must be eligible to receive funding from Study Loans (check if you're eligible above).

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 Australia will provide regulated consumer loans. 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 fortnightly or monthly via direct debit from your nominated bank account.

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

Students pay a monthly interest rate (indicative range of 12% to 18%) 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 2010 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.

How can Study Loans offer students such a low rate?

Our investors believe, as we do at Study Loans, that creditworthy borrowers deserve lower rates than traditional institutions have provided in recent years.

We are therefore able to provide funds to these creditworthy borrowers at more affordable terms.

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 minimum loan size from AUD $2,001.

Where do you send the funds? How do they get to me?

Once you are approved, all funds will be sent directly to your training provider. Funds are released to the education provider on a per unit basis. 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. Please see the 8 steps of our application from start to finish. Alternatively, approved education providers will also be able to assist in your application.

How are loans different from the federal government?

The federal government offers income-based repayments. For more information on Federal Student Loans, please click go to http://studyassist.gov.au/sites/StudyAssist/

Our Education Partners

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.