Get the Finder app 🥳

Track your credit score

Free

Study Loans

Last updated:  

Take control of your education with a loan from Study Loans.

If you’re considering further education, you may want to look into a loan from Study Loans. The application process for this loan is easy to follow and allows you to choose from a variety of courses offered by approved Education Partners. You have to go through these education partners to be approved for the funding offered by Study Loans. The range of courses on offer is broad so there’s a good chance you will find a program that meets your further education needs.


From 10% (variable)

Interest Rate (p.a.)

$2,001

Min Loan Amount

We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .

Details

Product NameStudy Loans
Interest Rate (p.a.)
From 10% (variable)
Interest Rate TypeVariable
Min Loan Amount$2,001
Max. Loan Amount$15,000

Main points to consider about a loan from Study Loans

Study Loans is a private financial broker that aims to help you focus on your education without worrying about the financial burden. The loans are provided through a variety of financial institutions that offer lower rates to creditworthy borrowers.

However, if your credit history isn’t that great, this doesn’t stop you from being eligible for funding. It just means that your repayments might be a bit higher than they would be if you had a good credit history.

Features that come with a loan from Study Loans

Some of the features of this loan include:

  • Competitive fees. With a monthly management fee of $2.50, a drawdown fee of $25 per unit and a one-off establishment fee of $200, which is explained before you sign this loan, you’re immediately aware of the fees you’ll be paying before you start your course.
  • Funds released in tranches. As you continue on with your education, the funds are released per unit or per cluster of units, known as a tranche. Tranche is just a fancy word for “payment milestone”.
  • Fortnightly or monthly repayments. This loan offers fortnightly or monthly repayment options which are deducted from your nominated bank account. However if you miss a repayment, there is a $25 fee. You can also make top-up payments through BPAY at no extra cost.
  • Varied loan terms. The loan terms are available from 0.50 years to 4 years, so can suit a variety of budgets.
  • Interest rates. With this loan you pay a monthly interest rate, which is in the range of 10-15%. This rate is calculated based on a risk-based pricing model that takes into account the individual student's financial circumstances. The rate is calculated daily and applied monthly.
  • Loan amounts. Amounts you can borrow start from $2,001 and end at $15,000.
  • Variety of education providers. In order to apply for this loan, you must go through one of the partner education providers. Although this might seem limiting, there is a range of education providers you can choose from, such as the Jigsaw Training Group, Auscare Group and the Academy of Makeup.

How to apply for a loan

You need to choose your education provider from its list of Education Partners, decide what course you’d like to take, and apply for a loan through the education provider at the same time as you apply for the course.

In order to see if you are able to apply for a loan, you need to click on “Go to Site” and check the following pre-qualification criteria:

  • Be at least 18 years or older
  • Be an Australian citizen or permanent resident
  • Have a working mobile phone number and email address.
  • Need a loan to fund your education
  • Earn at least over $20,000 per year.

If you meet these basic criteria, you are able to submit an application through your chosen education provider, and it will be considered by Study Loans to ensure that you are a suitable candidate for a loan.

The loan offered by Study Loans allows people to further their education with a low interest rate loan. However, consider whether this option is right for you and your needs.

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

Logo for Pepper Money Unsecured Fixed Rate Personal Loan
Pepper Money Unsecured Fixed Rate Personal Loan

You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site