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Compare student personal loans

Scrounging up the money you need to pay for your education and living expenses as a student can be difficult at times, so it’s important to have an option to turn to when you need a leg-up financially.

That’s where personal loans come in, offering you a highly flexible and versatile source of money to help you buy (or cover) what you need and pay for it at your own pace. Find and compare from a range of personal loans here to cover your expenses within 24 hours.

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site-logos Harmoney Unsecured Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 5.35%
fixed
6.14% 
fixed
$570.96
over 60 months
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Borrow up to $50,000 with personalised rates and repay over 3 or 5 years loan terms.

site-logos OurMoneyMarket Unsecured Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 5.45%
fixed up to 20.99% p.a.
6.04% 
fixed up to 23.83% p.a. based on $30,000 over 5 years
$572.34
over 60 months
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Apply for an unsecured personal loan up to $75,000 and receive a special rate of 5.45% p.a. for first 12 months for loan amounts over $35,000.

site-logos Symple Loans Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 5.75%
variable
6.47% 
fixed
$576.50
over 60 months
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Earn up to 50,000 Qantas Points with a more rewarding personal loan from Symple

site-logos Now Finance No Fee Unsecured Personal Loan
  Advertised
rate from
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rate from
Monthly
Repayments
 
site-logos 5.95%
fixed up to 17.95% p.a.
5.95% 
fixed up to 17.95% p.a. based on $30,000 over 5 years
$579.29
over 60 months
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Borrow up to $50,000 with no fees, now and forever. Minimum requirement to earn $22,100 p.a. and have good to excellent credit.

site-logos SocietyOne Unsecured Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 5.95%
fixed up to 19.99% p.a.
5.95% 
fixed up to 20.93% p.a. based on $30,000 over 5 years
$579.29
over 60 months
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More details

Borrow up to $50,000 with rates between 5.95% p.a. and 14.99% p.a. based on your credit rating.

site-logos Wisr Unsecured Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 6.49%
fixed up to 20.95% p.a.
7.31% 
fixed up to 20.95% p.a. based on $30,000 over 5 years
$586.84
over 60 months
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More details

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.

Harmoney customers applying for loans of this amount and length can receive an interest rate between 5.35% p.a. and 19.09% p.a. (6.14% p.a. and 19.99% p.a. comparison rates). Loan terms are offered for lengths of three or five years. A $30,000 personal loan repaid monthly over five years at the minimum 6.14% p.a. comparison rate will cost an estimated $34,916.34, inclusive of all interest and most fees, with monthly repayments of $581.94.

Symple customers applying for loans of this amount and length can receive an interest rate between 5.75% p.a. and 25.99% p.a. (6.47% p.a. and 29.20% p.a. comparison rates). Loan terms are offered for lengths of one to seven years. A $30,000 personal loan repaid monthly over five years at the minimum 6.47% p.a. comparison rate will cost an estimated $35,193.78, inclusive of all interest and most fees, with monthly repayments of $586.56.

SocietyOne customers applying for loans of this amount and length can receive an interest rate between 5.95% p.a. and 19.99% p.a. (5.95% p.a. and 21.70% p.a. comparison rates). Loan terms are offered for lengths of two, three or five years. A $30,000 personal loan repaid monthly over five years at the minimum 5.95% p.a. comparison rate will cost an estimated $34,757.21, inclusive of all interest and most fees, with monthly repayments of $579.29.

Now Finance customers applying for loans of this amount and length can receive an interest rate between 5.95% p.a. and 17.95% p.a. (5.95% p.a. and 17.95% p.a. comparison rates). Loan terms are offered for lengths of 18 months to seven years. A $30,000 personal loan repaid monthly over five years at the minimum 5.95% p.a. comparison rate will cost an estimated $34,757.21, inclusive of all interest, with monthly repayments of $579.29.

OurMoneyMarket customers applying for loans of this amount and length can receive an interest rate between 5.45% p.a. and 20.99% p.a. (6.04% p.a. and 23.83% p.a. comparison rates). Loan terms are offered for lengths of one to seven years. A $30,000 personal loan repaid monthly over five years at the minimum 6.04% p.a. comparison rate will cost an estimated $34,855.67, inclusive of all interest and most fees, with monthly repayments of $580.93.

Wisr customers applying for loans of this amount and length can receive an interest rate between 6.49% p.a. and 20.95% p.a. (7.31% p.a. and 20.95% p.a. comparison rates). Loan terms are offered for lengths of three, five and seven years. A $30,000 personal loan repaid monthly over five years at the minimum 7.31% p.a. comparison rate will cost an estimated $35,906.01, inclusive of all interest and most fees, with monthly repayments of $598.43.

The features and benefits of student personal loans

Centrelink income accepted

Our flexible lending partners can accommodate income derived not just from your job, but also supplementary funds received through Centrelink.

Avoidable fees

There are several fees that can potentially be avoided on your loan, including ongoing (up to $20 per month) and establishment fees (up to $600).

No security needed

You don’t have to worry about providing an asset as collateral for your personal loan, with unsecured financing on offer to give you more flexibility.

No upfront deposit

There’s no obligation for you to pay any lump sums or fees up front; all of your payments begin one week, fortnight or month after you sign off on the loan.

Pay your loan out early

You aren’t required to stick to your repayment schedule, either. You can choose from lenders who offer free additional and early payments to help you save.

Rapid approval

Your personal loan application can receive an instant outcome within 60 seconds, with the funds transferred directly to your account inside 24 hours.

Student personal loans explained

What are student loans?

Student loans are a special type of personal loan designed to meet the needs of students. They are usually intended to pay for things like tuition and textbooks but can also be used for living expenses. 

Student loans also tend to offer a range of benefits over other personal loan types. For example, many lenders have lower interest rates and waive certain fees for some student loans. Some will also provide additional features, like redrawing or top ups, for free. 

How does a student loan work?

Student loans work much the same as any other personal loans. They provide access to a set amount of credit, which is funded as a lump sum. They require repayment over a series of regular instalments, with fees and interest incurred along the way. 

However, student loans differ in one important way – their eligibility criteria. 

Acknowledging that most students wouldn’t meet standard personal loan eligibility criteria, student loans often have more flexible requirements. Specifically, they tend to be less strict about an applicant’s credit history and income. This means that they’re an option, even if you only work casually and haven’t had a loan before. 

To be eligible for a student loan, you will generally need to be able to prove that: 

  • You are at least 18 years old  
  • You receive some form of income 
  • You are currently studying at a recognised education institution (e.g. University, TAFE, etc.) 

 

However, the specifics of this will vary from lender to lender. 

Give yourself more room to breathe financially

How do I choose the right student loan?

Tips for securing your student loan

Exhibit good financial behaviours

Lenders will want to see that you are financial responsible and save regularly, don’t overdraw your account, etc. This is particularly important if you have no credit history.

Enlist a Guarantor

A guarantor is someone who agrees to assume responsibility for your loan if you fail to repay it. This could be a friend or family members and should be someone with a good credit history. 

Provide security

Secured loans present less risk to the lender, so are easier to get to get and have lower interest rates. They require you to put up a major asset (like your car), which can be repossessed if you miss repayments.

Request a smaller amount

The smaller the amount you’re borrowing, the more affordable the repayments will be. As such, make sure you apply for only the amount you need.

Common questions about financing your big day answered

How much can I borrow?

How much you can borrow will depend on the lender, the type of loan, and your circumstances. While some companies will offer Student Loans up to $50,000, you will need to prove you can afford the repayments. Most lenders will also want to see a breakdown of what you plan to use the funds for. 

How do I know if a loan is affordable?

A loan is considered affordable if you can comfortably meet the repayment schedule. As such, you should look at the repayment amount and work out if you can make it work long-term. To be really sure, try saving that amount for a few months and see how it impacts your lifestyle. 

How long does it take to pay back a student loan?

Most lenders allow you to choose your loan term, generally up to a period of 7 years. While a longer term may mean smaller repayments, it usually costs more over the life of the loan. As such, you should pick the shorter term you can comfortably afford. 

How often can I make repayments?
We have tailored our loans to come with flexible repayment options that can be paid weekly, fortnightly, or monthly.
Can I access funding to cover me until I complete my studies?

Yes. Whether you are doing a year course or completing a long degree, we will finance you every step of the way.

I’m an international student – can I still get a student loan?

Most lenders will require you to be an Australian Citizen or Permanent Resident to take out a Student LoanHowever, there are some that will consider applicants who are on Student Visas. As such, you should still be able to find a loan – you just need to do your research. 

Are there any penalties fees if I pay out my loan early?

Yes. However, be aware that some lenders will charge you an extra fee for settling your debt ahead of schedule. As such, you may need to pay more than the current amount owing to finalise the debt. 

I’ve never taken a loan out before – can I still get a student loan?

While having a good credit history can help you get a loan, it is possible to find finance without one. In fact, many Student Loan providers are more flexible on their credit history requirements. However, you should make sure you meet all of the lender’s requirements before applying. 

Also, if you are given a loan, make sure you make all of your repayments on time and in full. This will help you build a good credit rating and should make getting loans easier in the future. 

Most of my income come from Centrelink – can I still get a student loan?

Most lenders will want to see that you’re receiving some form of income. While many will want to see income from stable employment (e.g. a part-time job), others may accept support payments as income. This is particularly true for cash loan providers, who usually have more flexible income requirements. 

Can I get a quote without any obligations to apply?

Yes. We can offer you a quote and further walk you through your finance options with no obligation for you to apply.