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Last updated on April 20th, 2022 at 02:16 pm by Bill Tsouvalas

Compare educational expenses personal loans

Covering educational costs is often no small feat, whether that be your own university or TAFE course or any other certification you need to advance your career. You can find the right personal loan for you by comparing offers from Savvy’s reputable lending partners all in one place.

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site-logos Wisr Unsecured Personal Loan
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
Repayments
 
site-logos 8.20%
fixed up to 17.95% p.a.
9.04% 
fixed up to 18.87% p.a. based on $30,000 over 5 years
3 to 7
Years
$5,000 to
$64,000
$611.17
over 60 months
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Borrow between $5,000 and $64,000 with great low rates for excellent credit. Get a personalised rate estimate in 2 minutes that won't impact your credit score.

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site-logos Plenti Unsecured Personal Loan (Excellent Credit)
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
Repayments
 
site-logos 7.39%
fixed up to 8.79% p.a.
7.39% 
fixed up to 9.91% p.a. based on $10,000 over 3 years
3 to 5
Years
$5,000 to
$50,000
$599.57
over 60 months
Go to site

Apply for an unsecured personal loan and enjoy low rates for excellent credit. With no early repayment or exit fees, there’s a lot to love about this loan.

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site-logos OurMoneyMarket Unsecured Personal Loan
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
Repayments
 
site-logos 5.85%
fixed up to 20.99% p.a.
6.48% 
fixed up to 23.83% p.a. based on $30,000 over 5 years
1 to 7
Years
$2,000 to
$75,000
$577.89
over 60 months
Go to site

Apply for an unsecured personal loan between $2001 to $75,000 for a variety of loan purposes. Get a personalised rate estimate in minutes without impact your credit score.

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site-logos Harmoney Unsecured Personal Loan
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
Repayments
 
site-logos 5.35%
fixed up to 19.09% p.a.
6.14% 
fixed up to 19.99% p.a. based on $30,000 over 5 years
3 to 7
Years
$2,000 to
$70,000
$570.96
over 60 months
Go to site

Borrow up to $70,000 with personalised rates and repay over 3,5 or 7 years loan terms.

More details

Disclaimer: A comparison rate indicates the true cost of a loan. The comparison rate displayed for this advertiser is calculated based on a loan amount of $30,000 over 5 years and represents the effective rate on the loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.

How Savvy can help you with your education loan

Common questions about your education loan answered

Will I be able to borrow the full costs to fund my studies?

Yes – our lenders offer full funding for various costs for the period in which you need to complete your studies.

Do you provide finance for international students?

Unfortunately, you’re unlikely to be able to receive a loan as an international student, as student visas generally aren’t accepted for financing. 

Can I get financing for short courses?

Yes – our lenders offer finance options that range from one up to seven years for short courses, bachelor’s degrees right up to your masters or doctoral degree.

Will my loan come with a fixed or variable rate loan?

Your loan will have a fixed rate, which means it’ll never fluctuate. This ensures that they’re better when it comes to budgeting, as you can be more certain of the cost of your loan further into the future.

Will I be able to pay for a laptop with a loan?

Yes – because these loans are unsecured, they’re designed to take care of not only the cost of your course itself but also computer and technological expenses that will be used for your studies.

Can I make early repayments?

Yes – our lenders offer financing that allows you to make early repayments without being penalised. This can help you save hundreds of dollars, if not more, over the life of your loan.

How often can I make repayments?

You can choose to make your repayments weekly, fortnightly or monthly to help lower the amount you owe.

Can I still get financing if I have bad credit?

Yes – we have some specialist lending partners who can offer loans to people with bad credit and work towards solutions that fit their current situation.

Your helpful guides on educational loans

Avoid busting your budget

No one wants to prolong the process of having to pay off their loan once they have graduated. Therefore, having plans for how you will manage the amount you owe is the first step. A budget is one of the many ways you can use to implement while you are still studying and once you have graduated to cut down on costs that would generally be spent on things that you do not really need and putting the money into your savings account to help pay off your loan. You should consider using budgeting tools to create goals and track savings.

Using your credit card

Some Australians will choose to use their credit card to pay off small educational expenses such as purchasing a computer, books, or other technological equipment that will help them with their studies. A 0% interest rate credit card can help lower initial costs if paid off on time. However, using your credit card to swipe for unnecessary costs that could have been saved up for can increase your chances of defaulting which can negatively impact your credit report and affect future borrowing.

How to manage debt?

One of the biggest expenses that some Australian students will have to deal with is paying off their student loans after they graduate. What can ease your way into managing your student loan is staying within your financial means once you graduate. There are many bills that will be required of you, especially if you purchase a car, get married, or building towards owning a house one day. Consider choosing something that is within your current financial reach that will still allow you to pay off your loan.

The perks of a saving account

Let’s face it. Paying off your educational expenses while still studying can be difficult but getting into the habit of saving while still studying can help you better manage your expenses once you have graduated. By saving the spare cash that you usually use to treat yourself into a savings account will eventually help you build up enough savings that can reduce the amount that you owe. You can also consider making your payments automated to help improve your saving habits.