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Take control of your future with an education loan
An education expenses loan breaks down the barriers to the qualifications you need. Now you just need to study.
Education expenses loans on Harmoney are normally funded within 24 hours, so you won’t have to worry about missing deadlines.
When you’re approved for a study expenses loan, you’ll know exactly how much you can borrow and budget what you need to pay.
You don’t need to risk your home, car or other asset to be approved for a study loan on Harmoney. All our loans are unsecured.
Simple, 100% online
Step 3. Get your money
Provide some last details after accepting your quote and you should get your money within 24 hours.
Step 2. Get your loan terms
We’ll send you a detailed quote for your education expenses loan for you to approve.
Step 1. Get to know you
Let us know how much you need to borrow and provide some details about yourself and your finances.
What we offer
$2K - $50K
3 or 5 years
$275 or $575
Early repayment fee
- All loans are unsecured
- Rates from 6.99% - 25.69% p.a.¹ (comparison rate 7.79% - 26.65% p.a.²)
- Your rate is fixed for the life of the loan
- You can repay weekly, fortnightly or monthly
- Establishment fee of $275 for loans under $5,000 ³
- Establishment fee of $575 for loans $5,000 and over ³
- No monthly account keeping fees
Quick study loan estimate
Try our loan calculator for a quick estimate of the interest rate and repayments on your study expenses loan.
Can anyone apply for an education loan?
To apply for an education expenses loan in Australia, you have to:
- Be 18 or older
- Be an Australian citizen or Permanent Resident or a New Zealand citizen
- Prove that you are employed full-time or permanent part-time
- Prove your identity with valid photo ID such as your Australian driver’s licence or passport
- Not have a default, judgment or bankruptcy listed on your credit file
- Need at least $2,000 for your loan
To apply for an education expenses loan in New Zealand, you have to:
- Be 18 or older
- Be a citizen or Permanent Resident of New Zealand
- Prove that you earn a stable income
An education loan is a type of personal loan. You can apply for a loan online following our simple step-by-step process.
What can I use an education loan for?
A study expenses loan can be used to cover education costs up to your borrowing limit, including tuition fees, on-campus housing, academic books, transport and equipment such as computers. Knowing your ongoing costs are covered up-front makes managing your day-to-day expenses easier.
Can I delay paying back my loan until after I complete my studies?
A personal loan for education expenses is not like a government student loan, which only needs to be repaid once you’re earning above a certain threshold. You will need to make regular repayments on your Harmoney loan from the start of the loan.
If you want to lower your monthly repayments, you can choose a 5 year loan rather than a 3 year loan. Keep in mind, the longer the loan term the more interest you pay over the life of the loan.
I need to borrow more. Can I increase my loan?
You may be able to extend your borrowing limit and borrow more on your education loan if you’ve been making your scheduled repayments to Harmoney for 6 months or longer and your credit profile is the same or better.
Can I cancel the loan if I’m no longer in education?
Harmoney loans can be cancelled within a “cooling-off period” of 7 days of the loan starting if you change your mind. As long as you’re in the cooling-off period, you can return your money to us and we’ll refund your establishment fee.
If you’re not in the cooling-off period, but your plans change and you no longer need a study expenses loan, you will have to pay back your remaining balance (including any interest owing at that time) to close your loan account.
Can I pay off my loan early?
Yes. If you have the chance to pay back your remaining balance before the end of your loan term, doing so will help you to save on interest payments and get out of debt sooner. Harmoney doesn’t charge early repayment fees.
Fast and fair education expenses loan
With fewer financial worries, you can focus on getting your qualification.
100% ONLINE – 24/7
No queues, no face-to-face meetings, your loan is fully online.
Pay a fair interest rate that’s calculated based on your personal credit assessment.
NO EARLY REPAYMENT PENALTY
Unlike most lenders, we don’t charge a fee if you pay back your loan early.
About education loans
Education and training can be a great investment in your future, but often an expensive one.
An education loan can help to cover the costs of studying, as well as covering your living costs if studying is impacting on your regular employment. Here are some of the main points to consider when you’re comparing education expenses loans from different providers.
Unsecured education loan
All Harmoney personal loans are unsecured, including education expenses loans. This means we don’t need you to put forward an asset as security for the loan - putting those assets at risk.
Secured education loan
Some loan providers offer secured personal loans. While these may have a lower interest rate, they also involve more risk, as a high-value asset is required as security for the loan. If you can’t repay your loan, the loan provider has the right to sell your asset to recover their lost money. Harmoney does not offer these types of loans.
If you’re studying an approved course run by an approved education provider, you may be eligible for a student loan. These are designed to cover course fees, course-related costs and living costs. Interest payments are generally lower than for a personal loan, but so are borrowing limits.
Fixed or variable rate?
Whatever type of study loan you choose, another important detail to compare is whether the interest rate is variable or fixed.
A variable rate can go up or down in line with the market base rate, which can make this option more of a gamble. A fixed rate stays the same, so you’ll always know how much your repayments will be.
All Harmoney personal loans have a fixed interest rate to give our borrowers more certainty. Learn more about our interest rates.
Focus on your future
Apply for a study loan so you can concentrate on what’s important.
Loans of all kinds
Harmoney can help you achieve your goals
If you’re furthering your education, a study loan from Harmoney can help to support you. Tell us how much you need to borrow.
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Terms and conditions
1. Subject to approval and funding. Harmoney’s interest rates range from
2. Comparison rate of
3. Establishment fee of