Figures shown are for Education Loan and update automatically when our published rates change. Your own offer depends on the amount, the term and our assessment.
An education loan covers the cost of study — tuition, equipment, certification or living expenses — repaid over a term long enough that the payments stay manageable while you are earning less.
Why the terms differ
Education lending is usually offered over a longer term and at a lower rate than general borrowing, because the money is going towards something that tends to raise earning capacity. The trade-off is that you are committed for longer.
Borrow for the shortfall
Check what you are entitled to first: grants, bursaries, employer sponsorship and government schemes are almost always cheaper than credit. Borrow to cover what remains after those, not the whole cost.
Think about when repayments start
Repayments begin according to your agreement, not when you graduate. If your income during study is limited, factor that in and choose a term whose monthly figure you can meet throughout — not only once you are working full time.
Common questions
Do repayments start after I graduate?
Repayments follow the schedule in your agreement. Ask us before signing if you need the timing explained for your circumstances.
Can it cover living costs?
Yes. Funds are released to your account and can cover any cost associated with your studies.
