Education Loan

What is an education loan?

An education loan is designed for anybody planning to study at any level. Course offered at the university level, like a graduate returning to further study or a completely new student, are often more expensive than undergraduate degrees. Cash today from Ozzie could help you manage your expenses and help you cover the money you need to start studying. Our education loan is a personal loan product which means that you’ve given your total loan amount as a lump sum cash payment transferred directly into your account. You use this fast cash to pay for things like fees or study expenses, and then you repay that amount over a fixed period at a fixed interest rate and monthly repayments. Every repayment is the same amount, so your loan is easy to budget for.

If you’re not sure how much you can afford to pay on your loan repayments, use our online loan repayment calculator to help give you an idea of what to expect before you apply.

How to get an education loan?

You can apply online for any of our finance products. Applications take less than 5 minutes to complete and submit. If you’re not sure whether our cash loans or an education loan is for you, but you’re still looking for some fast credit, then you have some other credit options to choose from. Our line of credit works a bit like a credit card, except you transfer yourself cash now when you need it, rather than using your credit line in-store or online.

Our line of credit is offered as a revolving line of credit of up to $15,000. It offers you peace of mind knowing that you have immediate access to funds whenever you need them. Use your line of credit as often as you like. Borrow and repay in full or borrow from your credit line and slowly repay your balance over time. Our line of credit option is our most flexible credit product and can help with education loans and general cash loans when you need them. You pay interest only on the borrowed amount.

How much education loan can I get?

Using our online tools like a personal loan calculator will help you discover what your likely education loan amount will be. Interest rates offered can vary depending on the loan amount that you’re looking for. Your interest rate will determine the repayments you make and may affect the loan term that you ultimately choose to take. Choosing a longer loan term will help to lower monthly repayment costs and take the strain of managing off short-term living expenses. Short term loans are great for keeping your credit commitment short, but they do put additional stress on your cash flow with higher repayment amounts. We don’t charge our customers early termination fees on personal loan balances they choose to close out early. This means that you can apply for a long-term education loan and enjoy the flexibility of paying out your balance early if you can and avoid additional interest payments.

Available loan amounts from Ozzie Loans range from $5,000 to $50,000. To be eligible for our online loans application process, you must be at least 18 years old, be a permanent resident of Australia and be currently employed. We’ll ask you for some general information like your current bills and debts, living expenses and income details. Usually, customers who apply during our business hours receive a response within 60 minutes. If you’re happy with the loan amount that we have offered you, and you have carefully reviewed the terms and conditions and any fees and charges, simply digitally sign your contract online, and we’ll transfer your new funds immediately. Depending on which bank your account is with, this could mean that you have the money you apply for the same day that you submitted your application.

Sometimes you may not be approved for the total education loan amount that you’re looking for. This could be for a variety of reasons, including poor credit history. As a responsible money lender, we will only approve credit applicants we believe can comfortably afford their new loan. You may find that slowly building your credit history up with smaller credit products can help you get approved for the fast cash loan amount you need faster. Once you have a good credit history, then your personal loan interest rate is likely to be lower, as well as other fees. This saves you money on future credit products by first showing your provider that you’re a reliable credit customer. You can apply for any of our quick loans like our mini loans and small loans online too.

Apply online now with Ozzie Loans for competitive personal loans, including education loans, and get approved for the money you need today.