Take charge of your future with an education loan. We can support you with low rates from 6.74% 1 comparison rate 7.57% 2* for excellent credit.
Education loans
Funds
for your
future
for your
future
What can I use this for?
Start your
study without
the stress
- University or TAFE fees
- Professional certifications, diplomas, and certain online courses
- Equipment and materials related to your study
- Career retraining or upskilling
The Wisr Difference
Not your average lender
We’re smart, with a big heart.
Your rate is tailored based on your credit score.
You’ll get an outcome that’s right for you.
With no early repayment fees.
Learn how to keep them in shape.
Our customer service team is ready to help.
Loan Calculator
Doing the maths is smart
Calculate your repayments on an education loan.
- Monthly
- Exceptional
Get estimate
Details
| Total Repayments | $0.00 |
|---|---|
| Total Interest | $0.00 |
| Amount Required | $0.00 |
| Establishment Fee | + $0.00 |
| Loan Total | $0.00 |
| Interest Rate (p.a.)1 | 0.00% |
Testimonials
For the part of you that learns from others
The Process
We keep it simple
- 01
Get your personalised rate estimate in 2 minutes
- 02
Apply online and get a response right away
- 03
Upload your documents
- 04
Sign on the digital line
- 05
Get your money within 24-48 hours, if approved
Product features and fees
- Loan purpose
Education loan
- Interest rate
Fixed from 6.74% 1 to 24.54%
- Comparison rate
Fixed from 7.57% 2* to 25.32% 2*
- Loan amount
$5,000 – $62,000
- Terms
3, 5 and 7 years
- Establishment fee
$595
- Features
No early repayment fees
Eligibility criteria
- Gross income over $25,000 p.a.
- Over 18 years of age
- No unpaid defaults last 5 years
- No bankruptcies last 7 years
- Not currently in financial hardship
- Permanent Australian resident (living in Australia right now)
Q1: What is an education loan?
An education loan is a type of personal loan used to pay for tuition, training, and study-related costs.
Q2: Can I use it for part-time or online courses?
Yes! Whether your study is part-time or full-time, you can apply for an education loan. We’re here to help, so you can focus on upskilling and achieving your goals without the financial stress.
Q3: What fees and charges should I know about?
We don’t charge any early exit fees, so you can repay your loan in full or make Booster Payments at any time, at no additional cost.
We charge a one-off establishment fee at the beginning of your loan term. This $595 is included in your repayment calculations and averaged out over the life of the loan.
If your direct debit dishonours, we charge a $15 dishonour fee and a $30 late payment fee to cover the cost that the banks charge us and the operational task for our team to manage this.
Q4: What are your interest rates?
The rate we calculate is personalised to you. Loans start from 6.74% 1 comparison rate 7.57% 2* for customers with excellent credit, and are fixed for the life of the loan.
FAQ
For the curious
Yes definitely! If your HECS doesn’t cover everything you need e.g. textbooks, materials, or living costs, an education loan can help fill in the gaps.
More Resources
The boring (but important) stuff
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1: This rate applies only to borrowers with excellent credit histories. Wisr will also offer loans at higher rates to applicants with good histories, but who do not meet the requirements for our lowest rates. Interest rates range from minimum 6.74% to maximum 24.54% Loan example: for a borrower with excellent credit, a loan of $30,000 over a 5 year term, with an interest rate of 6.24% comparison rate 7.57% and a $595 establishment fee, the monthly repayment would be $602.07 and the total cost over the life of the loan including the establishment fee would be $36,124.30.
2: Comparison rates based on $30,000 unsecured loan, fixed over 5 years, with monthly repayments.
3: Comparison rates based on $10,000 unsecured loan, fixed over 3 years, with monthly repayments.
4: Comparison rates based on $10,000 secured loan, fixed over 3 years, with monthly repayments.
5: Comparison rates based on $30,000 secured loan, fixed over 5 years, with monthly repayments with a total loan amount compared to the vehicle asset valuation less than or equal to 130%.
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms may result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Note: All rates mentioned on this website are calculated on a per annum basis.