Compare Education Loans from 50+ Australian Lenders
Cover tuition, textbooks, laptops and living costs with clear, fixed repayments that fit your study plan.
5.0 rating
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.
Apply online in 3 minutes
Share your details, course info and budget. No lengthy forms.
See matched options
Compare secured vs unsecured, terms, fees and comparison rates.
Upload documents
Provide ID, income evidence and bank statements for assessment.
Settle & start studying
Funds to you or directly to the education provider for fees.
Backed by over 50+ lenders
Giving you the best chance of being approved.
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.
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Jump to the section that best fits what you need.
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.
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.
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.
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.
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
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.
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.):
| Term | Approx. Monthly Repayment | Total 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
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Eujin was extremely easy to work with. He was respectful, clear in communication and persuasive. He works to get the best deal for his clients.
Chetan P.
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Really happy that it only took few days and no muck around. Ryan was friendly and able to help me pay off a loan and get a new car. Best part was taking away all the stress. Keeping me informed along the way with texts worked with me perfectly! Thanks.
Sheree F.
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Matt @emumoney helped me get the best rate on a personal loan for our new car, and we are currently finalising sorting our business finances into one loan. Awesome service and responsive to requests.
Tim P.
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Awesome to deal with. Brad was fantastic, nothing was too much trouble, handled all the hard work and let me get on with my business. Would totally recommend.
Charles L.
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I had an outstanding experience working with Eugin to get my car finance sorted! From the very beginning, Eugin was professional, knowledgeable, and incredibly helpful. He made what can often be a complicated process feel smooth and stress-free. His attention to detail ensured everything was handled efficiently, and he guided me through each step with clear explanations. Thanks to Eugin's support, I secured the financing I needed to buy my car, and I couldn't be happier. If you're looking for someone reliable and dedicated to help you with car finance, I highly recommend Eugin at Emu money. He truly goes above and beyond!
Pabasara G.
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.
