Lending offers for students

What student loans are available?

There are several types of student loans available to assist students in funding their education:

1. HECS-HELP - a loan program specifically designed for eligible students enrolled in Commonwealth supported places at universities. Under this scheme, the Australian government pays the student’s tuition fees directly to the university, and the student repays the loan through the tax system once their income reaches a certain threshold.
2. FEE-HELP - a loan program that helps eligible fee-paying students pay all or part of their tuition fees for higher education courses at approved providers. Similar to HECS-HELP, the repayment is income-contingent and made through the tax system once the student’s income exceeds the minimum threshold.
3. Peer-to-peer lending platforms connect borrowers directly with individual lenders, cutting out the traditional financial institutions. Students can explore peer-to-peer lending as a potential option for securing a personal loan.
4. Credit unions and building societies are member-owned financial institutions that may be more willing to work with students compared to larger banks.

What a student loan can be used for?

Student loans can be used to cover various expenses related to education and living costs while studying:

• tuition fees charged by Australian educational institutions, including universities, TAFEs (Technical and Further Education), and colleges.
• textbooks, course materials, and other required resources for academic studies.
• cost of housing, whether it's rent for a private apartment, shared accommodation, or fees for university-managed dormitories or student housing.
• living expenses, including food, groceries, utility bills (such as electricity, water, and internet), and household essentials.
• transportation expenses, including public transportation fares, fuel costs for commuting, vehicle maintenance, or bicycle-related expenses.
• health insurance premiums, medical appointments, prescription medications, and other healthcare-related expenses.
• purchase necessary equipment for studying, such as laptops, printers, software, and other technology.
• cover personal expenses, such as clothing, toiletries, and other necessities.

Am I eligible to get a student loan in Australia?

To be eligible for a student loan, you usually must be an Australian citizen or hold a permanent humanitarian visa to be eligible for a student loan.

A sudent must be enrolled in an approved course at an eligible institution. This includes universities, TAFEs, and other registered training organizations. Your course must be an approved FEE-HELP or VET Student Loan course. FEE-HELP is for higher education courses, while VET Student Loans are for vocational education and training courses.

You must maintain a satisfactory study load as per the requirements of your course and the loan program. A student cannott exceed the FEE-HELP limit and should not have any outstanding overdue HELP debt, not have previously used your FEE-HELP entitlement for the same course or a similar one.

As an alternative, you can also take out a personal loan. Your possible expenses:

Personal loan calculations for 1 year (example)

You can also get more detailed calculations by using our financial calculators.

Can international students apply for personal loans (from NZ, England)?

Yes, international students in Australia can apply for personal loans, but there are specific eligibility criteria.

International students must have a valid visa that allows them to stay in Australia for the duration of the loan term. Different visas may have varying restrictions on work rights and residency status, which lenders consider when assessing loan applications.

Lenders typically require international students to demonstrate a stable source of income to repay the loan. This may include income from part-time work, scholarships, or other allowances.

Having a good credit history in Australia can strengthen an international student's loan application. However, some lenders may consider alternative forms of credit assessment if the student has limited or no Australian credit history.

International students may be required to provide collateral (such as a vehicle or savings account) or have a guarantor (a person who guarantees repayment) to secure the loan, especially if they have limited credit history or income.

See the similar FAQ about Australian banks:

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Details of companies offering the financial services:

Bank Australia

Head office’s address: 222 High Street

Contact center: 61-132888

Phone: 61-3-9854-4666

Mail address: Bank Australia Locked Bag 2035, Collingwood VIC 3066 Australia

Web-site: https://bankaust.com.au/personal

ABN: 21 087 651 607

BSB: 313 140

Bank Australia

Head office’s address: 222 High Street

Contact center: 61-132888

Phone: 61-3-9854-4666

Mail address: Bank Australia Locked Bag 2035, Collingwood VIC 3066 Australia

Web-site: https://bankaust.com.au/personal

ABN: 21 087 651 607

BSB: 313 140

Bendigo and Adelaide Bank

Head office’s address: The Bendigo Centre

Contact center: 1-300-361-911

Phone: 61-2-8023-5417

Mail address: The Bendigo Centre PO Box 480 Bendigo Vic 3552

Web-site: http://www.bendigobank.com.au/

Swift code: BENDAU3B

Stock code: BEN

ABN: 11 068 049 178

BSB: 633-300

Bendigo and Adelaide Bank

Head office’s address: The Bendigo Centre

Contact center: 1-300-361-911

Phone: 61-2-8023-5417

Mail address: The Bendigo Centre PO Box 480 Bendigo Vic 3552

Web-site: http://www.bendigobank.com.au/

Swift code: BENDAU3B

Stock code: BEN

ABN: 11 068 049 178

BSB: 633-300

Cash Train

Contact center: 1300-034-626, 1300-733-009

Web-site: https://www.cashtrain.com.au/loan-types/payday-loans

City Finance

Web-site: https://cityfinance.com.au/

CommBank

Head office’s address: 201 Sussex Street

Contact center: 13-22-21

Phone: 61-2-8055-4001

Mail address: Level 10, Tower One, Darling Park, 201 Sussex Street

Web-site: https://www.commbank.com.au/

Swift code: CTBAAU2S

Stock code: CBA

ABN: 48 123 123 124

Fundo

Contact center: 1800-161-391

Web-site: https://fundo.com.au

MONEYME

Head office’s address: 3/131 Macquarie St

Contact center: +61 1300-669-059

Web-site: https://www.moneyme.com.au

OurMoneyMarket (OMM)

Head office’s address: 104 Frome St

Contact center: 1300-990-115

Web-site: https://ourmoneymarket.com/

Savvy

Head office’s address: 4 Clarke Street

Contact center: 1300-974-066

Mail address: Sydney, Suite 206, 4 Clarke Street,Crows Nest, NSW 2065

Web-site: https://www.savvy.com.au

SocietyOne

Head office’s address: Australia

Contact center: 1300-395-833

Mail address: [email protected]

Web-site: https://societyone.com.au/