Compare Education Loans from 50+ Australian Lenders

Cover tuition, textbooks, laptops and living costs with clear, fixed repayments that fit your study plan.

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Education Loan Options Australia
Emu Money Education Loan Comparison

Study Without the Stress

Finance course fees and essentials with fast decisions and repayments you can plan around.

Borrowing Range

Typical amounts $3,000 to $50,000+

Fixed Repayments

1 to 7 year terms for certainty

Fast Approvals

Same-day decisions possible for complete applications

Secured or Unsecured

Choose flexibility or sharper pricing with security

Direct-to-Provider

Pay universities, TAFE or course providers at settlement

Covers Study Essentials

Tuition, textbooks, devices, travel and more

How it works

We match your profile to lenders who fund uni, TAFE and professional courses—quickly and fairly.

1.

Apply online in 3 minutes

Share your details, course info and budget. No lengthy forms.

2.

See matched options

Compare secured vs unsecured, terms, fees and comparison rates.

3.

Upload documents

Provide ID, income evidence and bank statements for assessment.

4.

Settle & start studying

Funds to you or directly to the education provider for fees.

How Education Loans Work

Backed by over 50+ lenders

Giving you the best chance of being approved.

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Ready to get started?

Compare education loans from 50+ lenders with one simple application.

A quick guide to education loans

Education loans help Australians spread the cost of study—covering tuition, textbooks, devices and related living costs—into predictable repayments. They’re commonly used for university, TAFE, professional certificates and short courses, including online programs.

You can opt for unsecured loans for speed and flexibility, or secured loans (e.g., using a car) for sharper pricing or higher limits. Compare interest and the comparison rate to understand true cost, and align the term to your study timeline so repayments stay manageable.

Types of education loans

Pick a structure that suits your course timing and budget:

Unsecured Personal Loan

A personal loan that doesn't require collateral, based on your creditworthiness and ability to repay, offering flexibility for various purposes.

Loan Amount$5,000 - $200,000
Term6 - 84 months
Interest RateFrom 6.3%
Comparison Rate^From 7.97%
Time to Fund24 - 48 hours
EligibilityMinimum income $20,000, Australian resident, Fair credit score
Pros
  • No collateral required - no risk to personal assets
  • Quick approval and funding process
  • Flexible use of funds for any purpose
Cons
  • Higher interest rates than secured loans
  • Stricter credit requirements
  • Lower maximum loan amounts available
Best For

People who need flexible funding for any purpose without risking their assets. Ideal for debt consolidation, home improvements, holidays, and old or exotic vehicles.

Secured Personal Loan

A personal loan secured against an asset offering lower rates than unsecured options. Use the funds for any purpose while benefiting from competitive secured rates.

Loan Amount$5,000 - $200,000
Term6 - 84 months
Interest RateFrom 6.3%
Comparison Rate^From 7.97%
Time to Fund24 - 48 hours
EligibilityMinimum income $20,000, Australian resident, Fair credit score
Pros
  • Lower interest rates due to asset security
  • Higher loan amounts available
  • Flexible use of funds for any purpose
  • Longer repayment terms possible
Cons
  • Asset serves as security - risk of loss
  • Comprehensive insurance may be required
  • Longer approval process due to security valuation
  • Asset restrictions during loan term
Best For

Borrowers with valuable assets who want lower rates for debt consolidation, home improvements, or major purchases while keeping costs down.

Fixed Rate Personal Loan

An unsecured personal loan with fixed interest rate providing predictable monthly payments. Perfect for consolidating debt or funding personal goals.

Loan Amount$5,000 - $200,000
Term6 - 84 months
Interest RateFrom 6.3%
Comparison Rate^From 7.97%
Time to Fund24 - 48 hours
EligibilityMinimum income $20,000, Australian resident, Fair credit score
Pros
  • Fixed interest rate provides payment certainty
  • No assets required as security
  • Predictable budgeting with set repayments
  • Quick approval and funding process
Cons
  • Higher rates than secured loan options
  • Stricter credit requirements than variable loans
  • Cannot benefit from interest rate decreases
  • Lower maximum amounts than secured loans
Best For

Borrowers who want payment certainty and protection against rate rises for debt consolidation, home improvements, or planned expenses.

Variable Rate Personal Loan

An unsecured personal loan with variable interest rates that can fluctuate with market conditions. Potentially benefit from rate decreases on your personal financing.

Loan Amount$5,000 - $200,000
Term24 - 84 months
Interest RateFrom 9.2%
Comparison Rate^From 10.87%
Time to Fund24 - 48 hours
EligibilityMinimum income $30,000, Australian resident, Fair credit score
Pros
  • Can benefit from interest rate decreases
  • Often lower initial rates than fixed loans
  • More flexible loan features available
  • No assets required as security
Cons
  • Monthly payments can increase with rising rates
  • Uncertainty in budgeting due to rate fluctuations
  • Higher rates than secured loan alternatives
  • Risk of significant payment increases
Best For

Borrowers comfortable with payment variability who want to benefit from potential rate decreases without putting assets at risk.

What can I use an education loan for?

Education loans can cover a wide range of study-related costs in Australia:

Tuition & Course Fees

Pay university, TAFE or private provider fees on time—often with the option to pay the provider directly at settlement.

Textbooks & Materials

Fund textbooks, software licences, lab fees and other course materials without draining savings at census or exam time.

Devices & Equipment

Purchase laptops, tablets, specialist tools or cameras required by your course and bundle them into one repayment.

Living Costs While Studying

Cover accommodation, transport and childcare during intensive study periods so you can focus on results.

Professional Exams & Registrations

Finance exam fees, accreditation costs and compulsory memberships for fields like accounting, IT or healthcare.

Study Abroad & Intensives

Include flights, visas and short-term accommodation for exchange programs or residential intensives.

Case Study

Education Loan Case Study

Maya K

Postgrad made manageable


Challenge: Upfront fees for a 12-month graduate diploma plus a new laptop.

Solution: Unsecured education loan over 4 years with staged drawdowns.


Maya in Brisbane wanted to upskill with a graduate diploma while working part-time. Through Emu Money she compared matched options and chose an unsecured education loan with fixed repayments and staged drawdowns—paying the provider at census dates and funding a new laptop. This kept cash flow steady and aligned repayments with her study schedule.

How much can I borrow with an education loan?

Typical loan sizes range from $3,000 to $50,000+, depending on course costs, income stability and overall commitments. Secured loans may allow higher limits and sharper pricing; unsecured options prioritise speed and flexibility. Lenders assess recent bank-statement conduct and serviceability to set a suitable maximum so repayments remain manageable throughout your study.

Education Loan Repayment Calculator

Estimate repayments before you apply. Adjust amount, term and rate to see how it fits your budget.

Loan Amount
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Establishment Fee
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Loan Term (months)
Interest Rate
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Total amount to repay
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Your repayments
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Balance over time

Am I eligible for an education loan?

Eligibility focuses on affordability, income stability and a clear plan for funds (e.g., offer letter, invoice or course outline). Stronger profiles and secured options can unlock sharper pricing. Clean recent bank-statement conduct improves approval odds.

You may be eligible if you are:

  • An Australian resident aged 18+

  • Employed, self-employed or receiving acceptable income

  • Able to demonstrate serviceability via bank statements

  • Meeting minimum credit criteria (score/history)

  • Borrowing for bona fide study purposes

How to apply for an education loan?

Complete a quick online application and upload documents. We’ll compare offers across secured vs unsecured and coordinate settlement to you or directly to the provider so enrolment isn’t delayed.

Documents you may need:

  • Photo ID (driver’s licence or passport)

  • Recent bank statements (3–6 months)

  • Payslips or income evidence (or tax returns if self-employed)

  • Course offer/fees invoice or study plan

  • Asset details if offering security

How to save money on an education loan

Compare more than the headline rate—the comparison rate reflects interest plus most fees. Shorter terms cut total interest, while longer terms reduce monthly outgoings; choose the balance that fits your cash flow during study. If your provider bills by term, consider staged drawdowns so you only accrue interest on what you use. Check early-repayment policies so you can pay it off faster without penalty.

Example: Term impact — $20,000 at 10.99% p.a. (approx.):

TermApprox. Monthly RepaymentTotal Interest (approx.)

3 years (36 mths)

$654

$3,522

5 years (60 mths)

$436

$6,160

7 years (84 mths)

$361

$10,324

Understanding education loan options

Structure and features affect flexibility and cost. Here are key options to consider:

Secured vs Unsecured Loans

Secured loans (often against a car) can allow larger amounts and sharper rates but put the asset at risk if repayments are missed. Unsecured loans are faster and more flexible, usually at higher rates.

Fixed vs Variable Rates

Fixed rates provide certainty over the whole term. Variable rates can change with the market and may save money if rates fall—but could rise.

Direct-to-Provider Payment

Some lenders pay tuition invoices directly at settlement. This can secure enrolment quickly and ensure funds are used as intended.

Staged Drawdowns

For multi-term programs, staged drawdowns let you access funds as invoices arise, reducing interest on unused amounts.

Early Repayment Flexibility

Look for extra repayments and early payout with low or no penalty so you can clear the balance sooner and save on interest.

Rate-for-Risk Pricing

Sharper pricing is offered to stronger profiles. Improving bank-statement conduct and reducing other debts before applying can help.

Testimonials

VerifiedVerified Review

I've got the best service at Emu Money and their willingness to help you out. Evette went out of her way to help assist for the desired results. I will highly recommend them to anyone. Evette's industry knowledge & service was exceptional! I highly recommend her & will definitely reach out should we need any financial services in the future. Thank you

Mazhar A.

Review posted on 2025-04-25

VerifiedVerified Review

I want to take this moment to highlight the outstanding service I received from Jackson in organising for the purchasing of my car. Jackson have the know-how in dealing with any customers and made my car buying experience smooth and enjoyable. He was incredibly knowledgeable about the product and I confidently made my decision because he gives me all the information I needed. He was transparent throughout and made me comfortable and informed throughout the process. I would not hesitate to recommend Jackson and the company for a fast and easy loan approval that you don't get anywhere else. Thank you Jackson and I will recommend you to all my friends and families.

Usaia R.

Review posted on 2025-06-25

VerifiedVerified Review

It was an absolute pleasure dealing with Ryan from Emu Money in sorting out my car loan. I was talking with another broker and I was almost ready to settle the loan through him without realising I was getting charged a large amount as the lender fee, almost 3K. Once I started talking with Ryan I realised the naked truth of how I was about to get ripped off by the other lender. Ryan helped me to get the loan with a lesser fee, lesser repayment amount and the same lender with which I was gone with the first broker. I can't thank enough Ryan for his exceptional service which helped to get a better deal. I would highly recommend him for any loan needs.

Praveen P.

Review posted on 2023-10-25

VerifiedVerified Review

Huge thanks to Evette at Emu Money for hooking me up with an amazing car finance deal — absolute legend! Very knowledgeable, went above and beyond, made the whole thing easy and saved me a ton. Couldn’t be happier!

Scott D.

Review posted on 2024-02-21

VerifiedVerified Review

I applied for a car loan with the help of Emu Money a week ago, and the process was very fast and easy. There was no stress at all, as everything was taken care of by Krish, who managed my application from start to finish. He was very easy to communicate with and clearly explained the entire process and what was required from me. He was also quick to provide updates throughout. I would definitely recommend Emu Money to anyone looking for a smooth and hassle-free loan experience.. Thank you Krish.

Saritha A.

Review posted on 2025-07-30

VerifiedVerified Review

Brad was great quick and simple no headaches. just simple process and was done in quick time frame. cant thank him enough.

Danny D.

Review posted on 2024-01-24

Frequently Asked Questions

Education Loan FAQs

These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.

What can an education loan cover?
How much can I borrow?
Are funds paid to me or to the provider?
Is this the same as a government student loan?
Will the interest be tax-deductible?
Can I repay early without penalty?
What documents do I need?
How fast can I be approved?
Is a secured loan better?
Will applying hurt my credit score?
The information, tools, and material presented on emumoney.com.au are provided for informational and comparative purposes only and do not constitute financial advice or a recommendation. While we strive to ensure the accuracy and timeliness of the information provided, we make no guarantees or warranties, either expressed or implied, regarding the completeness, accuracy, reliability, or suitability of the information, products, services, or related graphics contained on this website. The loan rates, terms, and repayments presented are based on user inputs and the data provided by lenders in our network. These are estimates and indicative figures only. Actual loan rates, terms, and repayments may vary based on the specific lender, your creditworthiness, market conditions, and other factors not accounted for in our tools.
^The comparison rate shown is for a secured loan amount of $30,000 over a term of 5 years based on monthly repayments. 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. Any calculations or estimations do not constitute an offer of credit or a formal credit quote and is only a calculation of what you may be able to achieve based on the information you have entered. It does not consider suitable product features or loan product types. Rates + repayments shown are based on user inputted data. All applications for credit must be verified prior to the formal assessment process. All applications for credit approval are subject to lender credit approval. Approval is not guaranteed.
The minimum loan term available is 6 months, and the maximum loan term is 84 months. Maximum Annual Percentage Rate (APR): The maximum APR, which includes the interest rate plus fees and other costs calculated annually, is 29.29% per annum. Representative Example: For a loan amount of $30,000 over a term of 5 years (60 months) at an annual interest rate of 6.3% p.a., the total repayment amount including all fees and charges would be $36,471.67, with a monthly repayment of $607.86.