What it can cover
- Fees for a short course or training.
- School costs, like uniforms, camps or a device.
- A laptop or equipment for study.
- Exam or registration fees.
Check these before you borrow
Government study loans
For university and many vocational courses, HECS-HELP, FEE-HELP and VET Student Loans can put off your fees, with indexation instead of interest.
Ask about instalments
Many course providers let you pay in instalments.
Scholarships and school help
Ask the school or course provider about scholarships, bursaries or help with costs.
Ask your employer
If the course helps your work, your employer may pay for some or all of it.
How the loan works
It’s the same loan whatever you use it for. Your offer and contract show your exact figures before you accept.
| Feature | What it means |
|---|---|
| What you can borrow | $2,050 to $4,600 in cash, in $50 steps |
| Establishment fee | $400, added to the loan, so the total stays within $5,000 |
| Length | 3 or 6 months |
| Repayments | The same amount each time, weekly, fortnightly or monthly, timed to your pay. The first is at least 7 days after the loan is paid. |
| Interest | A fixed rate, charged only on what you still owe |
| Paying early | Allowed at any time, with no early repayment fee |
| Security | None. The loan is unsecured |
| How you get the money | Paid into your own Australian bank account, if you’re approved and accept |
When this loan isn’t the right fit
- University fees a HELP loan could cover.
- Living costs while you study.
- Everyday bills or living costs that keep coming back.
- Paying off other loans or debts.
- Anything for a business, investing or gambling.
- If the repayments would leave you short for essentials. Free, confidential help is available from the National Debt Helpline on 1800 007 007.
Questions
Can I use it for university fees?
You can, but compare HELP loans first. They usually cost far less.
Can I use it for a laptop?
Yes. A laptop or device for study is a common use.
How quickly is the money paid?
If you’re approved and accept your contract, the money is sent to your own bank account. Timing depends on your bank and our checks, so we can’t promise when it will arrive.
Can I pay it off early?
Yes. You can repay early at any time, with no early repayment fee. You only pay interest for the time you have the money.