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Student Loan Repayment Calculator

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Find out how much your repayments and
interest rate could be with our calculator


Monthly repayment from


Example interest rate

9.20 %

Comparison rate*

10.58 %

Total charges


Total repayments


Disclaimer: This calculator provides an estimate only and a comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The interest rate for this product is variable and subject to change. Any calculations made by you using this calculator is intended as a guide only.

Student Loan Calculator

For anyone heading back to hit the books or looking to invest in professional development with further education, you’ll probably know that studying doesn’t come cheap. Often new and returning students will seek out a student loan to help them cover the upfront costs of tuition and if this sounds like you then you might find taking a look at a student loan calculator a helpful online tool in discovering your borrowing power.

Further study comes in all shapes and sizes and all kinds of costs. For graduate degrees at Australian universities, you are often looking at over $25000 for a full degree. Shorter professional development courses can be a bit cheaper but often an education provider will seek the full tuition fee upfront before you start studying. This is to help them forecast the teaching staff they need at the start of a course. Students who can pay their full tuition at the time of enrolment are often offered incentives like reduced fees or other discounts so if you can take advantage of this at the start of the course by taking out one of our instant loans then you could save money over the long term.

A graduate loan from MoneyMe is paid to your bank account as a lump sum amount that you can then transfer to your education provider. Applications are fully online and take just 5 minutes to complete. We don’t ask customers for lots of paperwork and instead provide a low doc personal loan process that asks for access to your online banking platform to verify your application details. This is securely managed using illion’s bank-level encryption software and no one – not us and not illion – receive your actual login credentials. Instead, the personal loan broker assessing your application receives a 90-day statement in PDF format showing your bank transactions. This helps us to instantly verify your salary and expenses and approve you faster for the education loan you are looking for.

How to use a student loan interest calculator?

A student loan calculator is designed to give you an indication of what kind of credit funds you can comfortably apply for and what will be the best option for getting quick cash loans and easy finance right now. They are easy to use, offering either preloaded interest rates or the ability to manually set the interest rate on the loan product you are considering. Change the loan term to understand how short term loans can affect repayment amounts or extend the loan term to discover whether a long term personal loan offers a little more comfortable with smaller repayments over a longer period of time. Note, however, that while short loans reduce your total interest payable, they do come with steeper monthly repayments that can affect your current cash flow more than a personal loan taken over a couple of years.

Interest on our loans online is calculated daily and the interest rate that you are offered with your approval is given as a per annum (yearly) amount. When you receive a loan offer your contract will clearly show what the total interest payable is over the term of your loan, so you know ahead of time whether it’s the right kind of loan for you. We don’t charge our customers early termination fees on our loans, either. So, if you’re in a position to close out your loan balance early and save yourself some interest then that’s great news. We’ll help you stay in front of your finances rather than sting you for more money.

How to get a student loan

Quick loans from MoneyMe are available for balances between $5,000 and $50,000 which gives you a lot of fast cash to play with. To qualify for our easy online application process, you will need to be at least 18 years old, be a permanent resident in Australia and be currently employed. 

We also offer the Freestyle virtual Mastercard® for pre-approved credit balances up to $20,000. This is a revolving line of credit rather than a variable rate personal loan that offers you upfront cash directly into your bank account. While there is no personal loan redraw facility available from MoneyMe you can redraw credit funds you have repaid from your Freestyle account instead. This offers customers more flexibility and a regular credit fund they can dip into when they need to. Purchases made using Freestyle are also offered with 55 days interest-free. When you repay your credit funds within this period you are essentially using an interest free credit card. Take a look at our Freestyle account to help you decide between a personal loan vs credit card or do a quick personal loan comparison in Australia to double check fees and charges between lenders.

Use our online student loan calculator to help you understand what you can borrow comfortably, what it will cost to repay your loan amount and whether a quick cash loan from us is best or whether the Freestyle fast and easy revolving line of credit will better suit what you need right now.

If you’re ready to apply, then use our completely online application form. It takes you just 5 minutes to complete and submit and when you apply during business hours, you usually receive an approval within the hour. When you’re happy with the loan offer, simply digitally sign your new contract and we’ll transfer the funds immediately. Often this means that customers can apply, get approved and receive their new student loan all on the same day. Apply now.

Our customers

Student Loan Repayment Calculator

Fast, fair and easy. Very happy customer. Happy to get another loan in the future from MONEYME.

Simple process, easy to follow application, quick response time and good support.

I was impressed with how easy and quick the application was. Very happy with their customer service, and the app is very convenient.


Review Stars Out of 2,701 reviews

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Transparent and
simple pricing

Interest rate

9.20 %
to 25.20 %

Comparison rate*

10.58 %
to 26.58 %

Establishment fee
(Direct applications)

$395 for loans between $5,000 and $15,000

$495 for loans between $15,001 and $50,000

Monthly fee


Loan terms

Minimum 3 years

Maximum 5 years

Early exit fees


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