What to do before you apply
There are things you need to think about before applying for the Pension Loans Scheme.
Before you apply, you should consider:
- your current and future financial situation
- the impact of compound interest on the loan
- the repayment of the loan.
We recommend you seek independent legal or financial advice.
You should also:
- check that you meet all the eligibility rules for the Pension Loans Scheme before you start your application
- consider whether you want someone to deal with us on your behalf about the loan.
We also have tools and information to help you manage your money.
Page last updated: 28 January 2020
This information was printed 22 September 2020 from https://www.servicesaustralia.gov.au/individuals/services/centrelink/pension-loans-scheme/what-do-before-you-apply. It may not include all of the relevant information on this topic. Please consider any relevant site notices at https://www.servicesaustralia.gov.au/individuals/site-notices when using this material.