Interest Free Student Loan
The interest free student loans is a multi-purpose loan for students. It is available throughout the year to fund expenses such as travel, living expenses and general back to college expenses. Students can borrow up to $6,500 per year and have the option to defer payments for 3 months (optional, only if loan is repaid monthly). The interest free student loan is only available to students upon application.
Features
- Borrow up to $6,500 each year.
- Interest free for.
- Option to defer the first 3 months repayments (optional only if repaid monthly).
- Loan must be repaid in full at end of 12 month period.
Lending criteria terms and conditions apply.
Terms and Conditions
Lending criteria and terms and conditions apply. Applicants must be 18 years old or over. To apply for an interest free student loans you must be a full time student. We may require a guarantee from your parent or guardian. Full details of any guarantee required will be provided in advance.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
Standard Student Loans
Want to buy something, but don’t have the cash? Talk to us today about a discounted student loans for your first car, car insurance or that laptop you really want. Discounted variable rate of 0.0% Annual Percentage Rate applies. Lending criteria, terms and conditions apply. The standard student loans is only available to students upon application.
Features
- Multi-purpose loan for students e.g. fees, travel, living expenses, equipment, car.
- Borrow from $600 to $10,000.
- Discounted variable rate of 0.0% APR.
- Choose to repay over 1 to 5 years.
- Flexible repayment options – choose to repay weekly, fortnightly or monthly.
Rates
The following representative example will give you an indication of the cost of a Student Loan of $10,000 over 60 months at a standard student loan variable interest rate of 1.16% borrowing rate, 10% Annual Percentage Rate.
- Loan totalling $1,000
- Monthly repayments of $16.999 per month to be repaid over 60 months.
- Total cost of credit is $1,019.94
Lending criteria, terms and conditions apply. The rates quoted are correct for 1st June 2014 and are subject to change.
Warning: If you do not meet the repayments on your Loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
Terms and Conditions
Lending criteria and terms and conditions apply. Applicants must be 18 years old or over. To apply for a standard student loans you must be a full time student. We may require a guarantee from your parent or guardian. Full details of any guarantee required will be provided in advance.
Download Terms and Conditions (PDF, 137kb)*
Postgraduate Finance Loans
A Postgraduate Finance Loan from Console Loan is the easy and affordable way for you to cover your postgraduate fees. The Postgraduate loan is only available to graduates who are undertaking postgraduate studies. Candidates can borrow a maximum of $15,000 over a maximum term of 5 years. Lending criteria, terms and conditions apply.
Features
- Only available to Graduates, in fulltime studies, who are pursuing a postgraduate qualification.
- Maximum loan amount of $15,000.
- Discounted variable rate of 0.0% (0.0% Annual Percentage Rate)
- Option to defer the first 12 months repayments (optional, only if repaid monthly).
- Loan must be repaid in full after 60 months.
- Guarantee may not be required where:
- Applicant is already employed; or
- Applicant is taking sabbatical from work; or
- Employment prospects are guaranteed or shown to be favourable
- Graduates undertaking a two year postgraduate course and / requiring funds in excess of $15,000 will be assessed on a case by case basis.
Lending criteria, terms and conditions apply.
Rates
Discounted variable rate of 0.0% (0.0% Annual Percentage Rate) applies for term of loan.
The following representative example will give you an indication of the cost of a postgraduate loan of $15,000 over 60 months at a postgraduate variable interest rate of 0.0% borrowing rate, 0.0% Annual Percentage Rate.
- Loan totalling $15,000.
- Monthly repayments of $250 per month to be repaid over 60 months.
- Total cost of credit is $727.00.
Lending criteria, terms and conditions apply. The rates quoted are correct for 1 June 2014 and are subject to change
Terms and Conditions
Lending criteria and terms and conditions apply. Applicants must be 18 years old or over.
To apply for a postgraduate finance loan you must be a full time postgraduate student.
Download Terms and Conditions (PDF, 137kb)*
Warning: If you do not meet the repayments on your Loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
Preferred Faculty Loans
Students in the final three years of studying Medicine, Dentistry, Veterinary, Pharmacy, Accountancy, Science (IT & Telecoms) and Engineering (non-civil) are eligible to apply for a preferred faculty loan. Parental guarantee may be required. Lending criteria, terms and conditions apply.
Features
Available to students in the final 3 years of studying Medicine, Dentistry, Veterinary, Pharmacy, Accountancy, Science (IT & Telecoms) and Engineering (non-civil) to cover college/living expenses.
- Discounted variable rate of 41.9% Annual Percentage Rate.
- Borrow up to $5,500 each year (maximum loan amount is $10,500).
- Maximum loan term is 60 months (i.e. final 3 years in college plus 4 years repayments post-graduation).
- 12 month deferred payment is available at each drawdown (optional, only if repaid monthly).
- Flexible repayment options – weekly, fortnightly, monthly.
Rates
Discounted variable rate of 41.9% APR
The following representative example will give you an indication of the cost of a typical preferred faculty loan of $5,500 (plus interest) over 60 months with the first 3 years payments rolled up at a variable rate of 10% (41.9% APR):
- Loan totalling $5,500 (+interest).
- Monthly repayments of $92.869 per month over 60 months.
- Total cost of credit is $5,572.14.
APR stands for Annual Percentage Rate. Lending criteria, terms and conditions apply.
Terms and Conditions
Lending criteria and terms and conditions apply. Applicants must be 18 years old or over. To apply for the preferred faculty loan student must be in the final 3 years of studying Medicine, Dentistry, Veterinary, Pharmacy, Accountancy, Science (IT & Telecoms) and Engineering (non-civil). We may require a guarantee from your parent or guardian.
Download Terms and Conditions (PDF, 137kb)*
Warning: If you do not meet the repayments on your Loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.