Student Loans

Loans tailored for students

Never miss an opportunity to learn. With MoneyMe, you can get the quick cash you need to help you pay for school fees upfront. Apply online, get an outcome in minutes and have the money in your account in as little as 60 seconds! Our student loans are designed to offer you flexible and student-friendly rates, so you can focus on your studies and have one less thing to worry about.

Retraining in a new skill can be a brave step, just like starting your education straight out of high school can feel a bit daunting. Ensuring that you have the money you need to cover tuition costs upfront will open a lot of doors, including early-bird discounts, and take some of the strain off the transition. We offer a range of unsecured personal loans and student loans for up to $50,000 that you can use toward tuition fees at your chosen institution for a college course or a master’s degree. 

 Education can be costly for younger students as well, which is why we also offer private student loans to help pay for school fees. Whether you’re planning to study at your dream university or you’re a graduate returning to further study, you’re going to need a flexible unsecured loan to help you manage your expenses and to help you cover what you need to start studying.

Know how much you need

School loans are personal loans Australia that MoneyMe transfers to your account in full amount upon approval. You can use it to pay for your fees or study expenses and repay it over a variable period at a variable interest and monthly repayments. You can use a personal loan calculator to help you check what kind of payments you are most likely going to be making and how they can be budgeted into your new living expenses.

 If you’re a full-time student, using a student loan repayment calculator is a great way of planning ahead as you likely won’t be able to work full-time hours once your study commences. Online tools like a personal loan repayment calculator also give you an idea on how much your fortnightly or monthly repayments will be, as well as your interest and establishment fee. Take note that whilst the on-the-spot calculations you may be seeing are close to your expected loan rates, the actual loan amount you are getting is still subject for further evaluation.

 Personal loan interest rates can vary depending on the loan amount that you’re looking for, your preferred repayment duration and credit status. Your interest rate will determine the repayments you make and may affect the loan term that you ultimately choose to take. Choosing a longer loan term may help lower monthly repayment costs and take the strain of managing short-term living expenses.

How to get a bigger student loan

The first thing you will ask yourself when you start an application process for loans is: “How much can I borrow?” You may find that when you initially apply for a student loan, you may not be able to receive the entire amount that you need straight away to cover your tuition fee. If you don’t have a very strong credit history – either because you are quite young and haven’t built up a credit experience or because your credit file is less than ideal – this will affect the amount you’ll be getting upon approval of your personal loan request and the interest rate that you will most likely be charged. 

 You may take out quick loans like our mini loans and small loans that are short term loans for smaller amounts than your total tuition cost. Taking out small same day loans from MoneyMe will help us get to know your credit profile and give you a reasonable loan rate tailored to your school needs and ability to repay. You can take our cash loans for small amounts and once they’re repaid with a solid and reliable repayment history, we may re-evaluate your profile and give you loans at a better value on your future applications. By demonstrating that you’re ready to move on to a larger student loan, you may be able to be approved for an amount closer to what you need.

Try a more flexible alternative

If you’re looking to have a more flexible credit option, MoneyMe offers Freestyle The Virtual Credit Account – a line of credit providing the latest spend-now-pay-later solution that gives you the ultimate convenience to pay for school expenses, textbooks and other learning tools whenever you need it.

 As an online money lender dedicated to delivering fast services to Gen Now, Freestyle is not just another plastic credit card to add to your wallet. It works like a virtual credit card that lives in your smartphone that you can use to Tap n Pay in-store, shop online, pay bills and transfer money to your bank or anyone straight away. Take it anywhere, use it anytime. Eligible customers may enjoy up to 55 days interest-free on purchases. It’s the smarter alternative to small personal loans that offers you a pre-approved fast cash loan or cash advance. Having a Freestyle account and making your repayments on time is also a great way to build up your credit file with us and help you get a larger student loan further down the track.

Who can apply for a student loan?

As a credit provider that believes in responsible lending and holds an Australian Credit Licence, eligible loans customers must be at least 18 years old, a permanent resident of Australia and currently employed.

Our online application takes just minutes to complete with simple questions about your personal information, income, current financial commitments and living expenses. With MoneyMe, learning how to get a student loan is easy.

 We can help customers with a range of loan products beyond student loans like rent assistance credit options and bond loans for helping to cover the cost of moving and associated expenses. You may also opt for cash loans online to use as renovation loans for making home improvements or minor home fixes at your student housing or apartment. You may also choose from our boat loans and unsecured car loans and score a great deal on your dream ride sooner rather than later.

 If you’re looking to spend some time travelling before you knuckle down into your further studies, consider a travel loan from MoneyMe. We can help provide the extra cash you need for your next holiday trip. Use the funds to book your flight, reserve accommodation and have pocket money for your getaway. Repayment options are flexible and comfortable, so you can enjoy your travel without breaking the bank. 

 We made applying for quick loans and easy loans a breeze. We offer our customer a hassle-free express loans application and approval process for same day cash loans as well as for student loans and larger purchases. Apply online in minutes and enjoy the freedom of quick money when you need it and at competitive rates.

Student Loan

A student loan is a type of personal loan that can help you pay your university tuition, course fees, training, vocational education, or anything related to higher education fees. Provided that you pay it on time (or ahead of time), this loan is a great way to build and improve your credit score, allowing you to access bigger loans and financing options with lower interest rates in the future. 

At MoneyMe, we offer student loans for education with flexible terms and lower interest rates than the student loan financing options offered by other financial institutions. We’re able to offer more affordable personal loans because we do everything online, which means we don’t have expensive offices and overhead costs related to running a physical location. 

What is a student start-up loan?

If you’re thinking about applying for a finance loan to help pay for college, chances are that you have no or very little knowledge about the loan process and how study loans work.

In a nutshell, a student loan is a viable financing option that can help you with school-related expenses, allowing you to finish college, which in turn can open a lot of opportunities years down the road. As with any loan, you need to pay the money back through regular scheduled repayments (usually weekly or monthly). 

At MoneyMe, you can borrow low cost student loans that come with competitive rates and flexible repayment terms. Our goal is to give you access to unsecured loans that can help you finish your studies and enjoy more opportunities in later years without causing financial constraints. 

Student credit cards are another excellent financing option if you’re taking a higher education course in Australia. While a student loan is ideal for a lump sum financing for larger purchases such as a computer or tuition fee, credit cards work better for smaller, everyday expenses or living expenses. 

As with any responsible loan companies, MoneyMe conducts credit history checks during the approval process. The idea here is to ensure that our borrowers can tap into a financing product that they can conveniently repay without overextending themselves. 

However, having a mark on your credit history does not automatically mean you won’t be eligible for our student loan or credit card. To make sure that we come up with the fairest decision, we also assess your cash flow, debt obligations, income, and living expenses – factors that can give us a more complete picture of your financial circumstances. 

We also review your most recent bank statements, which can reveal a lot about your cash flow. Simply provide us with your bank details so we can see the read-only snapshot of your most recent transactions. At MoneyMe, your data is protected (i.e., no one can view, access, or change your bank log-in details) because we use a safe and secure technology called illion Open Data Solutions, which is also used by major banks and other trusted financial institutions. 

Are student loan interest rates variable ?

MoneyMe offers a student loan repayment that comes with variable rates, meaning your scheduled payment (either weekly or monthly, depending on your preference) is the same during the entire duration of the loan. For this reason, borrowers who like the idea of predictable payments stick to a variable rate personal loan.

By contrast, variable rate loans have interest rates that either increase or decrease over time, depending on several factors. 

With a student loan interest rate that’s variable , you get predictable repayments throughout the duration of your loan. To know how much repayment amount you can afford, use MoneyMe’s personal loan repayment calculator, which is an easy-to-use online tool that can help you stay on top of your finances. 

To use our personal loan repayment calculator, which you can access using your mobile phone or desktop, input your requested amount ($5,000 to $50,000), your preferred loan duration (up to five years), and your desired repayment frequency (weekly or monthly).

You can also use our personal loan calculator in which you need to input your desired loan amount, your preferred loan duration, and a short description of your credit history, which has a large influence on your interest rates. Please note that the higher your credit score, the lower the interest rates you enjoy. 

Once you’re sure that you can conveniently cover the repayment amount on a regular basis, you can now start our paperless application process in which you only need to fill out our online form with your personal details and banking information. 

Provided that your personal and bank details are accurate, you can expect to receive our decision within the same day. Once approved, your funds are immediately transferred to your bank account. 

In case your loan application has been declined (probably because you’re still young and haven’t built up a credit experience), you may want to resort to smaller quick cash loans instead. By taking out smaller loans from MoneyMe, and paying on time, you can build a solid repayment history, which allows you to access a bigger student loan with better interest rates in the future. 

If you need a loan ASAP or want to know more about our different financing options, visit MoneyMe now. You can also use our online tools such as the repayment calculator and personal loan calculator to determine the student loan amount you’re comfortable paying on a regular basis.