Personal loans for students may be available in Australia, depending on each lender's eligibility criteria and its responsible-lending assessment of your income and expenses. Options such as the Student Start-up Loan, a uni loan or a No Interest Loan are also worth checking.
Below are six options to check, what each one is for and who can use it, and what a lender looks at if a loan still makes sense. International students have their own section, because MoneyBuddy lends only to Australian citizens and permanent residents.
Last reviewed: 16 October 2026
6 options to check as a student
Which option fits depends on your eligibility, what the money is for and what it costs. This list isn't a ranking, so check each one against your own situation.
- A Student Start-up Loan, if you get Youth Allowance, Austudy or ABSTUDY Living Allowance
- A Centrelink advance on a payment you already receive
- A loan from your university's student support service
- A No Interest Loan for an essential item
- A HELP loan for eligible study costs
- A small personal loan from a licensed lender
The sections below explain how each one works and who it's for. Government help comes first, because two of the options depend on a payment you may already get.
Government help: Start-up Loan and advances
Student Start-up Loan
The Student Start-up Loan is a voluntary loan of $1,349 for eligible students who get Youth Allowance, Austudy or ABSTUDY Living Allowance. If you're eligible, you can get it up to twice a year.
It still has to be paid back once your income reaches the repayment threshold. Indexation also applies to what you owe, so it isn't an interest-free loan.
Centrelink advance payment
If you already get a Centrelink payment, you may be able to receive part of it early as a lump sum. This is an advance on your own payment, not a separate student loan.
You generally repay it through smaller Centrelink payments over the next 13 payment periods. Whether you can get one, and how much, depends on your payment and your circumstances.
University loans and No Interest Loans
Many universities run their own student loans through their student support or financial assistance teams. Amounts, rules and availability differ between universities and can change, so check the current terms at your own uni.
Two examples show how much these loans vary:
| University | What its loan page says |
|---|---|
| University of Sydney | Interest-free loans of up to $2,000 for living and study expenses, open to domestic or international students, repaid within 12 months or before you graduate |
| UTS | Short-term loans capped at $3,000, which may be interest-free, for students enrolled in an award course, repaid before the course ends |
Source: University of Sydney and UTS student support pages, October 2026. Terms may change, so check with the university.
Each university explains how to apply on its own student support pages. Search your uni's website for "loans" or "financial assistance" to find the current details.
No Interest Loans (NILS)
No Interest Loans from Good Shepherd NILs cover approved essential goods and services, such as a laptop for study, a car repair or a rental bond. They aren't cash loans, because the money is paid straight to the supplier if the loan is approved.
There's no interest, fees or charges, and most essentials loans go up to $2,000. To be eligible you need to be 18 or over and meet income or concession card criteria.
HELP loans cover study costs if you're eligible
HELP loans are government loans for study costs rather than cash in your account. HECS-HELP helps eligible students in a Commonwealth supported place pay their student contribution, while FEE-HELP is for eligible fee-paying students.
Eligibility depends on your citizenship, visa and residency. Temporary visa holders and international students generally can't access HELP.
Australian permanent residents generally can't access HELP either, except in limited circumstances. Some New Zealand Special Category Visa holders, permanent humanitarian visa holders and Pacific Engagement Visa holders may qualify if they meet the conditions.
Check your own status with Study Assist before you plan around a HELP loan.
Can students get a personal loan?
Students may be able to get a personal loan if they meet a lender's criteria and the lender assesses the loan as suitable. Being a student doesn't rule you in or out on its own.
MoneyBuddy's FAQ sets out what we ask for, shown in the table below. Other lenders set their own criteria, so requirements vary from lender to lender.
| MoneyBuddy asks for | Details |
|---|---|
| Age | 18 or older |
| Residency | An Australian citizen or permanent resident |
| Income | A regular source of income |
| Accounts | An active bank account and email address |
Source: MoneyBuddy FAQ, October 2026.
Income can come from a job, Centrelink or both, and applications from Centrelink recipients are assessed case by case. A short credit history is common for students and is one of several things a lender looks at.
What lenders check for students
Licensed lenders must make reasonable inquiries about your financial situation and take steps to verify it. For a student, that means a close look at income that can change from week to week.
A lender will usually look at:
- Your income, whether from a part-time job, Centrelink or both
- Your bank statements, including regular deposits and spending
- Existing debts, including BNPL repayments
- Whether repayments fit around rent, food and study costs
Shifts that drop off during exams or holidays can make a fixed repayment harder to meet. It helps to test any repayment against your lowest-earning fortnight, not your best one.
Our guide to what decides how much you can borrow covers the assessment in more detail.
Options for international students
MoneyBuddy can't lend to international students on a student visa, because we lend only to Australian citizens and permanent residents. Other lenders' requirements vary, so check each lender's criteria before applying.
Student visa holders are generally limited to 48 hours of work a fortnight while their course is in session. Exceptions can apply, so check your own visa conditions with Home Affairs.
Some university loans are open to international students, such as the University of Sydney loans in the table above. Your uni's international student support team can also tell you what other help it offers.
Before you borrow
A small loan comes with fees and fixed repayments, so you repay more than you borrow. Check the full cost and every repayment date against your budget before you apply.
Working through the 50/30/20 budget can show how much room your income leaves for a repayment. It's a quick way to test whether a loan fits before you commit.
Extra income can ease the pressure too. Our list of side hustles that fit around study has ideas that work with a timetable.
If money is already tight, a free financial counsellor can help you work out a plan. The National Debt Helpline is free and confidential on 1800 007 007.
When a small loan might make sense
If you've checked the other options and a small loan still fits your budget, MoneyBuddy lends $500 to $5,000 to eligible Australian citizens and permanent residents. We look at your income, your expenses and what you can realistically repay.
Our page on how our small loans work explains the application process.
This article is general information only and does not take your personal circumstances into account. It is not financial advice. Consider whether a product suits you and read the loan terms before you apply.
Frequently asked questions
Students may be able to get a personal loan if they meet a lender's eligibility criteria and the lender assesses the loan as suitable for their income and expenses. Requirements vary between lenders, and MoneyBuddy requires borrowers to be 18 or older, an Australian citizen or permanent resident, with a regular income.
Some universities offer student loans that are open to international students, so your uni's student support team is a good place to start. Temporary visa holders and international students generally can't access HELP, and private lenders' requirements vary.
They do different jobs: HELP loans cover eligible study costs such as tuition, while a personal loan gives you cash with fees and fixed repayments. Which suits you depends on your eligibility and what the money is for.
Not meeting a lender's criteria, such as age, residency or regular income, can rule you out. A lender can also decline if its assessment shows the repayments wouldn't be affordable for you.
It depends on the lender and on your income, expenses and existing debts. MoneyBuddy lends $500 to $5,000 to eligible borrowers, and the amount offered depends on its assessment of what you can repay.
The MoneyBuddy Team
MoneyBuddy Australia
Helping Australians access fair, transparent small loans since day one. Our team creates practical guides to help you make smarter borrowing decisions.
