Student & Graduate Loans

Personal loans for Australian students and recent graduates, reviewed in 2026. Compare products with income-based or deferred repayment options, lower establishment fees, and flexible terms designed for borrowers who are still studying or early in their career.

These loans are distinct from the government HECS-HELP and VET Student Loans schemes, which cover tuition fees directly with the Australian Tax Office and are repaid through the tax system once your income exceeds the relevant threshold — the products reviewed here are commercial personal loans intended for living costs, a laptop, a car, relocation for study or work, or other expenses while studying.

Because students and recent graduates often have a shorter income history, some lenders apply more flexible serviceability assessment (for example accepting part-time income, Centrelink student payments such as Youth Allowance or Austudy where permitted, or a guarantor) while others simply charge a higher rate to reflect the added risk.

Eligibility generally requires being 18+, an Australian resident, enrolled in or a recent graduate of a recognised course, and some form of income (full-time, part-time, casual or eligible government payment, depending on the lender's policy). A guarantor — often a parent — can improve approval odds and the rate offered.

Before borrowing, compare the total cost against simply saving for the expense, check whether the loan has any early repayment penalty (useful once your income increases after graduating), and confirm you are not confusing this type of commercial loan with your HECS-HELP debt, which has entirely separate repayment rules.

It is worth distinguishing this category clearly from HECS-HELP: university tuition in Australia is financed through the government's HECS-HELP and HELP loan schemes, repaid via the tax system once income passes a threshold, and is not something a private lender provides. The loans reviewed here are ordinary personal loans marketed to students and recent graduates for living costs, a laptop, relocation for study or work, or a car — not tuition itself.

Because students and new graduates often have a shorter income or credit history, some lenders offer smaller loan amounts, a co-signer option, or assessment based on a confirmed graduate job offer rather than a long payslip history. Eligibility still requires proof of enrolment or employment, identification and bank statements, and the same responsible lending checks under the National Consumer Credit Protection Act 2009 apply as for any other personal loan.

Because a thinner credit file can mean a higher risk-based rate, it is worth comparing a student-specific lender against a mainstream personal loan provider rather than assuming a 'student loan' label automatically means a better deal — the comparison rate is the fairest way to check.