Higher Education Loan Program (HELP)
Higher education students may be eligible for a Higher Education Loan Program (HELP) loan from the Australian Government to help pay for the cost of their study now, that they will repay later.
The HELP loan is provided by the Australian Government and needs to be paid back through the Australian tax system once you start earning above the compulsory threshold amount. Your HELP loan will be affected by indexation. Indexation is like interest and will be applied to your HELP loan debts that are older than 11 months on 1 June each year. This means the amount borrowed is likely to grow and students will repay an amount that is more than the original tuition fee.
Find out more about HELP loans
VET Student Loans
Students enrolled in approved higher-level (diploma and above) vocational education and training (VET) courses may be eligible for a VET Student Loan to help pay for the cost of their study now, that they will repay later
A VET Student loan is a loan from the Australian Government you will be required to repay once your income is above the compulsory repayment threshold. Full fee-paying students incur a 20% loan fee which is charged in addition to their tuition fees. VET Student Loans are affected by indexation. Indexation is like interest and will be applied to your loan debts that are older than 11 months on 1 June each year. This means the amount borrowed is likely to grow and students repay an amount that is more than the original tuition fee.
Find out more about VET Student Loans
Australian Apprenticeship Support Loan
An Australian Apprenticeship Support Loan (AASL) is an interest free loan to help you purchase trade tools and supplies while being an apprentice. You can borrow up to $25,643 (2024-2025), which is paid in monthly instalments. You can apply for an AASL if you are completing an Australian Apprenticeship in a qualification listed on the Australian Apprenticeship Priority List.
Find out more about Australian Apprenticeship Support Loans
No Interest Loan Scheme
The No Interest Loan Scheme (NILS) offer loans to people on low incomes. Repayment time frames may be up to 24 months.
Borrow up to $2,000 for essentials such as appliances or furniture, car repairs or rego, a new phone or laptop, medical, dental and vet expenses, or education and employment expenses like fees, uniforms, licenses or equipment.
Borrow up to $3,000 for housing-related expenses such as bond or rent-in-advance, or for recovery from a natural disaster, and rates.
Find out more about the No Interest Loan Scheme (NILS).
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