Are you getting the Student Start-up Loan?

18 May 2020

If you’re getting a student payment, you may also choose to get the Student Start-up Loan.

The Student Start-up Loan is an extra amount of money you can borrow if you’re getting a student payment.

The Student Start-up Loan is a voluntary $1,094 loan eligible students can get twice a year. Unlike a student payment, this is a loan you’ll have to pay back.

To get the loan, you must do all of the following:

We’ll pay Student Start-up Loan up to twice a year if you’re eligible. The first time is after 1 January and the second time is after 1 July.

You can apply for the loan online using your Centrelink online account through myGov.

We’ll pay you the loan with your first fortnightly student payment, if you asked for the loan when you claimed. Or if you’re already getting a student payment, we’ll pay the loan as soon as it’s approved. You’ll get it at the same time as your next regular fortnightly payment.

Loans are tax free and you don’t need to declare them to us as income for your regular student payment. But you’ll need to pay them back.

You pay back the Student Start-up Loan through the Australian Taxation Office (ATO) when you start earning enough money. You can find the study loan repayment thresholds on the ATO website.

Next steps

Read more about the Student Start-up Loan.

Watch our Student Start-up Loan video.

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Page last updated: 22 May 2020