Education loans

Personalised Loan Shopping

See which lenders will give you the best education loan. Instant online results.


This is a totally free process and will not affect your credit rating.

Education loans
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One smart-form

Simple & quick, we narrow down the lenders you're eligible for.

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Personalised rates

See multiple lender rates you actually qualify for, all at once.

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After easily comparing, select the lender who best suits you.


Our mission (Money) is on a mission to enable Australian consumers to enjoy an online shopping experience for financial products, starting with personal loans.

We believe that by providing you with fair & transparent choice, we will achieve our mission, and help more Australians get better deals (more for your money).

Putting you first means:

  • We only show you loans you qualify for, ranked by the lowest repayment

  • We show you “apples with apples” loan comparisons (by simplifying & standardising information)

  • We do not accept paid endorsements or promote lenders based on commission.

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Compare personal loan rates

In the table below, the repayments are based on a $30,000 loan repaid over 5 years for an individual with excellent credit. To get your personalised rate for different amounts and terms, click 'Get your rate'.

Loan Terms
Interest Rates
Comparison Rates
Upfront Fees
Ongoing Fees
18 - 84 months 4.95% - 17.95% 4.95% - 17.95% $0 $0 $130 $33,800 Get your rate
6 - 84 months 6.39% - 17.89% 6.39% - 20.41% $0 $0 $135 $35,100 Get your rate
24 - 60 months 6.99% - 19.99% 6.99% - 21.56% From $0 $0 $137 $35,620 Get your rate
36 - 84 months 6.99% - 19.95% 7.55% - 20.89% From $475 $0 $139 $36,140 Get your rate

Representative example 1: Based on a loan with Now Finance for an amount of $30,000 over 5 years a borrower with an excellent credit history can expect to repay a total of $33,800. This represents a comparison rate of 4.95% p.a. and includes all interest and fees (there are no fees with Now Finance for a borrower with excellent credit) included in your loan repayments over the life of your loan. Interest rates vary subject to a full credit assessment.

Representative example 2: Based on a loan with a poor credit history with Wisr for a loan amount of $30,000 over 5 years a borrower can expect to repay a total of $49,435. This represents a comparison rate of 20.89% p.a. and includes all interest and fees (Fee breakdown - upfront fees of $525 and no ongoing fees) included in your loan repayments over the life of your loan. Interest rates vary subject to a full credit assessment.

Warning: For Personal Loans, the comparison rate is based on a $30,000 unsecured loan over 5 years; This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Key features of an education loan:

  • Borrow from $2,000 to $100,000

  • Fixed or variable interest rates

  • Repayments to suit your budget

  • Terms from 1 to 7 years (most common is 3 years)

  • Secured & unsecured options

Who is eligible for an education loan?

  • Australian Permanent Residents (& some visa holders)

  • Must be over the age of 18

  • Earn a minimum of $25,000 a year

Learn more about educational expenses loans

What is an educational expenses loan?

Getting an education in Australia can be financially straining. Not only are the fees expensive, but full-time study can make it difficult to earn a solid income. If you need a hand covering the cost of your studies, an education loan is one option you could consider.

An educational expenses loan is a personal loan intended to be used to cover the cost of school, university or other educational fees and expenses. Education expenses can be financed through regular personal loans or loans designed especially for students.

Some educational loans may have relaxed eligibility criteria, to accommodate students who often have a lower available income and fewer assets. The Australian Government also provides a number of financial assistance options to students.

Most educational loans can be used to pay for anything related to studying, including:

  • Admission fees

  • Course costs and fees

  • Textbooks, laptops, course-related purchases

  • Accommodation and living costs

  • Travel costs

An education loan can be used to cover other daily expenses, however a larger loan amount will result in higher repayments or a greater total cost over time. Speak to a financial adviser before considering an education loan, to assess your personal circumstances and provide a budget to plan repayments.

Money Tip: To find the best offers, it’s worth spending some time comparing available deals from multiple lenders. You can do that simply by using our smart-form.

Comparing educational expenses loans

Just like your studies, choosing a loan is a major life decision. Compare education loans from various lenders in Australia before applying, and consider individual aspects of each loan to find a lender and repayment plan which is suitable for you. This includes:

  • Interest rates

  • Fees

  • Loan term

  • Features

  • Flexibility

Loan features

Some education loans have useful features that may help save you money, or make paying them off easier. These might include:

  • Redraw facility - a loan feature that allows you to make additional payments to your loan to reduce interest, then withdraw any funds above the minimum repayment amount should you need them.

  • Bundling discounts - some lenders offer discounts if you purchase an educational expenses loan with other products such as life insurance.

  • How much your repayments will be


Some educational expenses loans have strict repayment terms and charge high fees if you miss repayments. Avoiding fees with your loan is the simplest way to keep your overall total cost as low as possible. Look for flexible loan features to make repaying your loan easier such as:

Alternatives to educational expenses loans

Education loans can provide access to finance when other options are unavailable. However, there are a number of loans and grants available to students through the Australian Government, which are worth considering before comparing education loans.

Government educational expenses loans

The government offers a number of different interest-free loan schemes for eligible students enrolled in a Commonwealth supported place at university. There are loans that can be used for both tuition fees and living costs, including OS-HELP, which can be used to fund overseas study.

  • Tuition loans charge a 25% one-off fee for each course funded

  • Loan limit of $106,319 to $152,700 depending on your area of study

  • You won’t have to make repayments until you’re earning a minimum of $51,957

Government student assistance

Government assistance programs are available for eligible students, offering regular cash payments that do not have to be repaid. These include living costs payments and special benefits for Aboriginal and Torres Strait Islander students and apprentices.

Visit to find out if you’re eligible and apply.


Most universities offer scholarships that can cover part or all of your study costs. These are usually available for students in their first year of study right through to postgraduate level. To find out more about scholarships available to you, contact your education provider.

How to qualify and apply icon

How to qualify and apply

You can apply for a education expenses loan in Australia if you are:

  • Over the age of 18; and

  • An Australian citizen or permanent resident; and

  • Earn at least $25,000 per year; and

If you meet the basic eligibility for a loan, you will then need to compare lenders and assess their individual approval criteria.

To get an education expenses loan you will need to:

  • Submit a personal loan application to a lender

  • Meet the lender’s approval criteria for the personal loan

  • Sign a loan contract and agree to the terms of the loan

The most important factor when gaining approval is to demonstrate your ability to meet the repayment schedule over the term of the loan.

If you use our smart form and find a lender you want to apply with, you will be directed to the lender’s website and need to supply all documentation as you normally would when applying for an educational expenses loan, which may include:

  • Proof of identity — e.g. passport or driver licence

  • Proof of income — e.g. payslips, bank statements

  • Details of any current debts or other loans

You will need to provide personal identification and financial documents (usually your bank statements or recent payslips), as lenders will need to assess your financial stability and determine if you can service the loan amount.

Summary icon


Education loans are a type of personal finance if you need help financing your studies.

These loans sometimes have less strict credit criteria, allowing for the fact that most students have lower total income and fewer assets. These loans can be used to pay for anything related to education, including learning materials, tuition fees and living costs while you study.

When applying for an educational expenses loan, check whether or not you’re eligible for government support, a government loan or a scholarship to help with your fees.

Before choosing a loan for educational expenses, compare all your options to make sure you find a suitable, affordable loan. When comparing your options, pay particular attention to:

  • Rates

  • Fees

  • Features

  • Flexibility

  • Loan term

How much money do you need?

Here are the most popular questions people are asking about educational expense personal loans:

Are education loans available for international students in Australia?

Yes, education loans are available to international students, provided they reside in Australia and have a source of income.

How much do education loans cost?

The cost of your education loan will depend entirely on how much you borrow, how long you take to repay it and the loan’s interest rate and fees.

Can I get an educational expenses loan if I have bad credit?

You may be able to get an educational loan if you have bad credit but you may be charged higher interest rates and fees. You may be more likely to be approved by a lender who specialises in bad credit loans.

Can I get an educational expenses loan if I’m already getting government assistance?

Yes if you meet the lender’s minimum credit criteria you should be able to get an educational expenses loan even if you’re already getting government assistance.