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8.13% p.a.*) with money in your bank account in as little as
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Won't impact your credit score!

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Example interest rate

6.74% p.a.

Comparison rate*

8.13% p.a.

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It won’t affect your credit score!

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Interest rate (p.a.)


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Comparison rates (p.a.)*


% p.a.

up to


% p.a.
*This comparison rate is based on an unsecured variable rate personal loan of $30,000 for a term of 5 years. WARNING: 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. $495 establishment fee and $10 monthly fee applies.

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Loans up to $15,000


Loans above $15,001

Loan term

3 to 5 years

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*This comparison rate is based on an unsecured variable rate personal loan of $30,000 for a term of 5 years. WARNING: 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. $495 establishment fee and $10 monthly fee applies.

Refinancing Student Loans

Are you looking for a quick and easy credit provider who can help you with refinancing student loans? Look no further. MoneyMe is Australia’s Next Gen finance provider offering online applications that take just 5 minutes to complete and submit. We offer a range of personal loans for balances between $5,000 and $50,000 as well as our Freestyle virtual Mastercard® for balances of up to $20,000. If you want to see whether you could be paying lower interest rates for your education loan or you need money for the next stage of your life, apply online today.

Approvals are super-fast and when you apply for any of our credit products during business hours you usually have an answer within the hour. If you’re happy with your new loan offer then all you need to do is digitally sign your contract and we release your funds immediately. Depending on who you bank with, this could mean that your new funds hit your account the same day. When MoneyMe offers same day loans, we really mean it.

How does refinancing student loans work?

Refinancing is a great way to tidy up your existing debts, get fresh fast cash for new ventures, and reduce the interest you are currently paying. If you want to refinance a personal loan, then you will need to apply for a new one covering the remaining balance of your existing loan and any new funds that you need to borrow. Applying online for a variable rate personal loan with MoneyMe is quick and easy. Our personal loan eligibility criteria are also nice and simple. To be eligible for any of our quick cash loans you will need to be a permanent Australian resident, be at least 18 years of age, and currently employed.

Rather than asking our customers for reams of paperwork, we offer a low doc personal loan application process. You will be asked for things like your current salary, your living expenses and any other debts that you currently have. Then, at the end of your application, you will be asked to input your online banking details. Don’t worry, this offers your personal loan broker read only access to a PDF format of your last 90-day bank statement. Your details are not given to us and they’re protected by illion’s bank encryption level software protection. We use this access to verify your application data and that’s why we’re able to offer our customers such fast turnarounds on their quick cash loan applications.

Is refinancing student loans worth it?

Only you will really know whether a new quick personal loan is worth it. If you are considering refinancing, then there are a few things that you can ask yourself at the start of the process to help clear up whether this is a good idea for you.

  1. Why do I want to refinance?

    Usually, a borrower will look to refinance their current loan because they are either seeking additional credit funds and there is no personal loan redraw facility on their existing loan, or because they are looking for a lower interest rate on their existing credit.

  2. Can I afford to refinance?

    Making a list of your current debts and bills and checking to see whether a quick loan can tidy them up is a good way to monitor your borrowing power. 

You can use online tools like a personal loan repayment calculator to help you determine whether getting a new instant loan from a provider like MoneyMe really is worth it for you or not. The calculator will ask for the total loan amount, the loan term (how long it will take you to repay it) and an indicative interest rate. By inputting this data into the calculator, you can quickly see what an indicative monthly repayment will be worth and whether this is more or less affordable than your current arrangement. The calculator will also show you what the total cost of your new loan is likely to be (including the interest payments that you make) and this will also help you find out whether a new loan is more or less affordable than your existing one.

Using these online calculators can also help you decide whether you should consider a personal loan vs credit card. Personal loans do not offer redraw facilities so if you’re looking for a more flexible credit option that allows you to draw fresh funds once you have repaid any credit that you have used then our Freestyle virtual credit card might be the better fit for you.

The Freestyle account works like a credit card except that it doesn’t live in your wallet with the rest of your everyday plastic. Instead, it lives on your smartphone so you can use it in-store wherever Tap n Pay are accepted and for easy online shopping. Freestyle customers enjoy 55 days interest-free on purchases made which means that if you repay the credit funds within this period then you are enjoying an interest free credit card service. You also have the added flexibility of transferring cash from your Freestyle account to your normal banking account (or someone else’s) in case you need a fast cash injection between pay cycles.

It’s always worth doing a quick personal loan comparison in Australia and checking out what other kinds of credit products are available to you before settling on a finance option.

Does refinancing student loans hurt credit score?

Your credit score can be affected by how many credit applications you submit so if you are settled on refinancing student loans and you are successful with your application then your credit score won’t be affected. If you apply for multiple types of credit, however, this can start to affect your credit score. It’s a good idea to compare options before you submit your application and to check your own affordability and borrowing power. 

Does refinancing student loans save money?

Refinancing student loans can result in paying lower interest which will save you money over the longer term. It’s also a great way to pay out small loan balances quickly and get fresh credit funds for the next step in your life beyond school. We can often accumulate several small debts over time that can make for an untidy mess and result in high-interest payments to multiple credit providers. When you refinance a personal loan, you consolidate all of those little debts, usually resulting in paying less interest overall and cleaning up your finances. It can be worth your while making a list of your current debts and bills regularly and checking to see whether a personal loan for debt consolidation can help you reduce your credit and put more money in your pocket.

Ready to start your online application? It won’t take long. As a completely online lender, everything we do is via the internet which means faster applications for you, faster approvals from us and faster funds into your account when you need them. Apply online today in just 5 minutes and see whether refinancing student loans can help you to save money over the long term.


How to apply

1 Check your rate and repayments

You can get a conditional loan offer in just minutes
without impacting your credit score!

2 Submit your application

Review your loan offer, accept it, and you’ll get an
approval outcome typically within 60 minutes.

3 Same-day transfer

Once approved, we’ll transfer the money to your bank
account immediately, even on weekends.

Must be Australian citizen, New Zealand citizen or permanent resident

Earn more than $30,000 p.a. from employment

Must at least be 18 years old

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