Personal loans for students from 60+ brands

Find personal loans from a wide range of Australian lenders that best suit your needs. Compare interest rates, repayments, fees and more. - Data last updated on 21 Jun 2018

Now showing 1 - 25 of 25 student loans
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Unsecured Personal Loan (5 Year Term)
*Comparison rate is calculated based on a loan of $30,000 over 5 years.
Advertised Rate
9.78%
fixed
Comparison Rate
11.18%*
Monthly Repayment
$634
Upfront Fee
$350
Compare
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Unsecured Personal Loan (Excellent Credit)
Advertised Rate
From
6.99%
fixed
Comparison Rate
7.69%
Monthly Repayment
$594
Upfront Fee
$500
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Fixed Low Rate (Excellent Credit Rating)
Advertised Rate
10.99%
fixed
Comparison Rate
12.21%
Monthly Repayment
$652
Upfront Fee
$250
Compare
Low Rate Secured Loan
Advertised Rate
5.14%
variable
Comparison Rate
7.61%
Monthly Repayment
$568
Upfront Fee
$200
Compare
Unsecured Loan (Excellent Credit)
Advertised Rate
From
7.65%
fixed
Comparison Rate
7.65%
Monthly Repayment
$603
Upfront Fee
$0
Compare
Discounted Personal Loan
Advertised Rate
7.99%
fixed
Comparison Rate
8.35%
Monthly Repayment
$608
Upfront Fee
$250
Compare
Secured Personal Loan (Car < 2 Years)
Advertised Rate
7.99%
variable
Comparison Rate
8.97%
Monthly Repayment
$608
Upfront Fee
$200
Compare
Unsecured Personal Loan - Diamond (Excellent Credit)
Advertised Rate
8.50%
fixed
Comparison Rate
9.36%
Monthly Repayment
$615
Upfront Fee
$595
Compare
Excellent Credit Personal Loan - Fixed Repayments (Unsecured)
Advertised Rate
From
8.35%
fixed
Comparison Rate
9.61%
Monthly Repayment
$613
Upfront Fee
3%
of loan amount
Compare
Personal Loan Fixed Rate
Advertised Rate
From
9.50%
fixed
Comparison Rate
10.06%
Monthly Repayment
$630
Upfront Fee
$150
Compare
Secured Personal Loan (Car 2-7 Years)
Advertised Rate
9.49%
variable
Comparison Rate
10.46%
Monthly Repayment
$630
Upfront Fee
$200
Compare
Unsecured Personal Loan (Marketplace)
*Comparison rate is calculated based on a loan of $10,000 over 3 years.
Advertised Rate
14.78%
variable
Comparison Rate
11.99%*
Monthly Repayment
$733
Upfront Fee
$300
Compare
Secured Fixed Standard Personal Loan
Advertised Rate
10.50%
fixed
Comparison Rate
11.13%
Monthly Repayment
$645
Upfront Fee
$200
Compare
Unsecured Personal Loan (NSW, ACT & QLD only)
Advertised Rate
11.45%
fixed
Comparison Rate
11.85%
Monthly Repayment
$659
Upfront Fee
$275
Compare
Unsecured Personal Loan
Advertised Rate
11.89%
variable
Comparison Rate
11.89%
Monthly Repayment
$666
Upfront Fee
$0
Compare
Unsecured Personal Loan Fixed
Advertised Rate
11.99%
fixed
Comparison Rate
11.99%
Monthly Repayment
$667
Upfront Fee
$0
Compare
Unsecured Loan (Good Credit)
Advertised Rate
From
10.99%
fixed
Comparison Rate
12.09%
Monthly Repayment
$652
Upfront Fee
3%
of loan amount
Compare
Unsecured Personal Loan
Advertised Rate
11.99%
fixed
Comparison Rate
12.81%
Monthly Repayment
$667
Upfront Fee
$195
Compare
Grade A SocietyOne Loan Fixed
Advertised Rate
From
11.50%
fixed
Comparison Rate
13.34%
Monthly Repayment
$660
Upfront Fee
4%
of loan amount
Compare
Secured Variable Standard Personal Loan
Advertised Rate
12.99%
variable
Comparison Rate
13.61%
Monthly Repayment
$682
Upfront Fee
$200
Compare
Unsecured Personal Loan
Advertised Rate
13.99%
fixed
Comparison Rate
14.37%
Monthly Repayment
$698
Upfront Fee
$250
Compare
Grade B SocietyOne Loan Fixed
Advertised Rate
From
12.55%
fixed
Comparison Rate
14.61%
Monthly Repayment
$676
Upfront Fee
4.5%
of loan amount
Compare
Unsecured Personal Loan
Advertised Rate
From
13.99%
fixed
Comparison Rate
15.19%
Monthly Repayment
$698
Upfront Fee
$250
Compare
Unsecured Loan (Average Credit)
Advertised Rate
From
14.00%
fixed
Comparison Rate
16.09%
Monthly Repayment
$698
Upfront Fee
4.5%
of loan amount
Compare
Unsecured Personal Loan
Advertised Rate
12.99%
variable
Comparison Rate
16.42%
Monthly Repayment
$682
Upfront Fee
$200
Compare
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Student personal loans

Being a student can be a costly experience, particularly for those living in cities with high living expenses, such as Sydney or Melbourne. Students who don't have the benefit of parents supporting them through their years of studying need sources of funding that are realistic in terms of repayments.  

What are student loans?

Student loans are a type of personal loan designed to help students pay for courses, university tuition and fees, as well as living expenses. They are a common feature of higher education in many parts of the world.

For those starting out at university, growing sufficient savings to fund your studies may feel nearly impossible. Even with a part-time job, this is not likely to give students a serious nest egg to fund their courses. For many young people – and mature students as well – a student loan from either a public or private source of finance is the only way to afford their education.

Taking out a student loan can be seen as an investment in your financial security over a number of years, as you're aiming to fund a course or degree that can improve your job opportunities over your career and earn more than you might otherwise have done.

Who can use a student loan?

Much like with all personal loans, student loan eligibility in Australia is up to the discretion of the lender you’ve chosen. This means that if you aren’t an Australian Permanent Resident, you’ll need to carefully examine the eligibility criteria of said lender to see if they provide financing for non-permanent residents, like international students.

There are a range of personal loan lenders who provide finances for students, and one of the best ways to choose the most competitive product to fund your education is to utilise comparison tools, such as RateCity’s student loan comparison table.

What are the features of a student loan?

Feature About
Secured loan This allows you to put down an asset, such as a car or equity in a home, as security on your personal loan. This usually results in a lower interest rate as you’re seen as a less risky borrower, however if you fail to make your repayments, this security can be repossessed by the lender.
Unsecured loan Does not involve putting down an asset as security, and therefore usually comes with a higher interest rate. This type of personal loan usually comes with more flexibility though.
Tranche funding Some lenders can release your funds in portions throughout the length of your course.
Repayment schedule Lenders allow you to choose your student personal loan repayment schedules, such as fortnightly or monthly, allowing for flexibility in your budget planning.
Loan term The length of your loan repayments, usually between two and five years. 

What student loans can I get from the Australian government?

Student loans are one way to bridge the gap between what Centrelink is able to provide through assistant programs. According to StudyAssist, there are a range of government loans and subsidies in place, including:

  • HECS-HELP - a loan scheme to help eligible Commonwealth-supported students to pay their student contribution amounts through a loan or upfront discounts.
  • FEE-HELP - a loan to help eligible fee paying students to pay their tuition fees.
  • SA-HELP - a loan that assists eligible students to pay for all or part of their student services and amenities fees.
  • OS-HELP - a loan to help eligible Commonwealth supported students pay their overseas study expenses.
  • VET Student Loans - a loan program that helps eligible students enrolled in certain higher-level vocational education and training courses at approved course providers to pay their tuition fees.

Loans from the government can be attractive in terms of good repayment conditions, but not everyone is necessarily eligible for these, and even those receiving a government loan may need to consider taking out a student loan from a private provider.

How do I get approved for a student loan?

Approval for a student personal loan in Australia could depend on individual finances and the lender’s eligibility criteria. One of the best things you can do is to try and improve how reliable lenders perceive you as a borrower, as well as to research and compare your student personal loan options before applying.

  1. Examine your credit history – if you have a bad credit history, your chance of approval for a student loan will be negatively impacted. If you have no credit history or a short credit history, lenders will take this into consideration for student loans, as most students are too young to have developed an excellent credit history.
  2. Pay off your debt – If you have existing debt from a credit card or another personal loan, lenders will see this when they examine your personal finances. Try to pay off your debt, or at least consistently meet your monthly repayment amounts to help improve your credit score.
  3. Regular income – having a regular income source, such as a full-time job, will show lenders that you have stability in your finances. While having a full-time job can be near-impossible for many students, lenders can take this into consideration, and look favourably on those with casual or part-time work.
  4. Compare student loan options with RateCity comparison tools, such as student loan comparison tables, to ensure you’re getting the most competitive personal loan for your financial needs.
  5. Carefully examine the eligibility criteria of the lender, particularly if you are an international student, to make sure you’re applying for a student loan you could be approved for. 

Alternatively, you can consult a finance broker and let them organise the loan on your behalf. Most finance brokers won’t charge for the service; instead, they’ll earn a commission from the lender.

What are the pros and cons of student loans?

For many students, a student loan is essential to be able to manage finances during the period of study. Often with lower than average interest rates and favourable repayments terms, they can provide financial security while at university.

Further, for young students with non-existent credit history, lenders won’t necessarily reject your application. Instead, they may offer you a higher interest rate than someone with a great credit score.  

If you take out a student loan and are able to defer your payments, this might seem like it’s helping your immediate financial situation. However, that interest is likely to be charged on the loan right from the start, and after a number of years that can add a lot of money to what you will have to repay.

Pros
  • Able to afford an education
  • Lower than average interest rates
  • More understanding eligibility criteria
Cons
  • Risk of falling into debt
  • Deferring payments will lead to higher interest
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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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