Attaining a university degree can be pretty expensive, and this is usually the case all over the world. You don’t only have to study hard to make the grade, but you also have to work on top of that you have to work hard to acquire the funds to pay for your education. Luckily, many governments around the world provide some form of fee assistance to help you pay off that debt with more ease.

This help includes anything from personal grants to study loans, and sometimes comes in the form of private sponsorships from companies or mentors. In Australia, these forms, as well as student loans from reputable providers, are available. So, whether you’re looking for a medicine, law, engineering student loan, or something completely different, here is how student loans work in Australia.

They aren’t hard to attain

It isn’t too difficult to acquire a student loan in Australia. Given you have the right documentation to prove that you’ve been accepted into your course, you should be able to acquire a student loan in one of the above-listed ways. This is because most financial institutions understand that it can be difficult to source the money to pay off higher education when you’re straight out of high school. This way, you can always apply for a student loan from the government or study loans provider to help you with your course.

You must be an Australian citizen or permanent resident to apply for a student loan

To be able to apply for a student loan in Australia, you must prove that you are a citizen or permanent resident. If you are unable to meet these conditions, you may not be eligible for a student loan. Financial institutions consider the conditions associated with nationality before they begin to think about providing a student loan. The same goes for HEC-HELP debt loans provided by the government. 

Student loan interest rates are typically low in Australia

Student loan interest rates available to Australian students are typically low, as most financial institutions are aware of the struggles regarding settling down after completing higher education. Government loans like HEC-HELP debts are usually paid back with incredibly low interest rates.

Repayment requests are typically made after studies are completed

Upon completing your higher education, you will be requested to pay back your student loan in full. Some private lending institutions request repayment immediately after studies conclude. Most government loans start some time after completion of studies, or when the graduate starts earning a particular amount.


To apply for the government-funded Higher Education Loan Program (HELP), you have to be an Australian citizen, hold a permanent humanitarian visa or hold a New Zealand special category visa. The HELP program is designed to help you study your degree and only begin repayment for those loans once you start earning a certain amount of money.

Your student fees will be charged to your student debt once you have passed the census date for each course you are enrolled in. Students are always notified of census dates which are typically two weeks into the semester. Your student debt has to be repaid once you have passed the census date regardless of whether you finish the course or not (unless you qualify for special circumstances regarding your inability to complete the course).

Australia is lucky in the way that our student loan system is designed to help take the pressure off students. Financial institutions understand a student’s financial difficulties and aren’t generally out to make things hard for them during their studies.