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If you're studying in Australia and want financial help Centrelink could help you out via Youth Allowance and the Student Start-up Loan. These aspects of financial support assist students with the everyday financial strain that comes with full-time study.
For many students but particularly those with limited family support, being able to access these benefits enables a student to stay in their studies rather than drop out or incur unnecessary debt. In addition to government support, there are other private loan options for students in Australia that may be worth pursuing, especially if your government loans won't cover your costs.
Youth Allowance is a regular payment made by Centrelink to eligible students and apprentices. Payments are made on a means-tested basis and require strict eligibility criteria, including age, residency and study load. If you are going to rely on Youth Allowance, it is important to understand the requirements and how the payments operate.
If you’re under 22, Centrelink also assesses whether you’re considered dependent on your parents. If you are, their income and assets could affect your payment.
Your income and savings will also be assessed (you must meet certain thresholds). As you exceed them, your payments will reduce and/or limit your eligibility. The eligibility conditions for Youth Allowance are:
It's important to keep your details correct and current. You must notify Centrelink in a timely manner of any changes in enrolment in your course, changes in income, or changes in living circumstances to avoid a disruption in your payment. The process of applying is digital and runs through your myGov account. Here’s a streamlined overview:
For qualifying tertiary students who receive Youth Allowance, Austudy, or ABSTUDY, Centrelink offers a voluntary, tax-free loan called the Student Start-up Loan. Students who receive Youth Allowance, Austudy, or ABSTUDY are supposed to use the loan to help pay for upfront college expenses like textbooks, software, equipment, or technology. Moving further in their studies will be greatly aided by the loan for students who are unable to pay for their courses in full.
In 2025, the loan is $1,160 per payment, paid two times a year; each amount can be paid every semester or each university intake. Please keep in mind that the Student Start-up Loan is added to your HELP debt and you must repay it once your income is above the repayment threshold.
You can apply for a youth Allowance through your my.gov account once your centrelink payments are approved. The student start-up loan can not be processed until your primary grant or payment (Youth Allowance, Austudy or ABSTUDY) has been finalised so the earlier the better to apply.
Being a full-time student in Australia can be costly and overwhelming. Although Centrelink may assist with some of those costs, usually it’ll fall short if you need to pay for rent, utilities, food, and education costs. Hence the importance of budgeting, and establishing a financial plan.
Furthermore, many students may also consider low-interest, or flexible private loans, to cover the gap. Reputable channels, such as CashLend, provide student based solutions which are structured to have short payback periods with flexible amounts available when Centrelink payments alone didn't fill the gap.
Beyond Youth Allowance and the Start-up Loan, Centrelink provides other payments that can help depending on your living and study circumstances:
There are benefits of additional payments from Centrelink, if and when you’re already on a qualifying payment such as Youth Allowance. Furthermore, many Universities in Australia also provide graduated Scholarships and Scholarships.
These do not involve repayment of any kind, nor do they impact any Centrelink payments received. Similarly, it’s worth also looking at options for student loans from private sources, particularly if you are not eligible for some forms of Centrelink assessment, or if your payment timelines do not align with your needs.
Centrelink payments can be hard to access due to eligibility or payments issues. This can happen for a number of reasons and is largely due to three issues that seem to come up repeatedly.
The first issue is parental income. The most common issue we have heard from students is related to income assessments of parental income, especially for students under 22 who are assessed as dependent.
Your eligibility for payment can also change due to changes in your enrolment status, especially if you have dropped below full-time attendance, or as a result of income from part-time or casual jobs exceeding the limits set by Centrelink.
To help you navigate Centrelink, consider reviewing their criteria for eligibility regularly, particularly if you intend to change your study commitments, including workload and enrolments.
Also, make sure to update your Centrelink profile, even if it's temporary, to ensure you are being assessed correctly. If your study or work commitments change including any changes to enrolments or if you take up an additional job, make sure to update your Centrelink profile straight away. If you are ever unsure you can approach your student centre for guidance or simply call Centrelink for clarification.
Always keep digital or physical copies of all correspondence and submitted documentation. These records can help significantly if you need to escalate your case.
While Centrelink remains a crucial resource for most, it may not cover every cost or suit every situation. For students who require quicker or more tailored solutions, private lending options may fill the gap.
Providers like Cashlend offer loans for students in Australia that are structured for educational needs and short-term repayment capacity. These options don’t replace government support but can serve as an additional layer of financial flexibility.
As with any private loan, ensure you read the total terms and conditions so you fully understand the repayment form, interest rate and your obligations as a borrower. Shop around and compare the governments loan offer with others to avoid any pitfalls when borrowing to supplement your living costs whilst studying.
Whether you rely solely on Centrelink payments or, like many students these days, provide some part-time income you will need to weigh your immediate options for managing study-related expenses.
A Youth Allowance payment, aplenty of Student Start-up Loans and other payments like Rent Assistance would provide a solid base when you enter into study. However, many students may still need to look into loans for students in Australia to cover the full spectrum of costs tied to modern education.
Plan early, stay informed, and don’t hesitate to explore all your options,whether they’re government-issued or private. With the right approach, you can avoid financial stress and focus on what matters most: your education.
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Disclaimer
CashLend, a trading name for Simple Finance Group Pty Ltd (ABN 70 626 186 418) and holder of Australian Credit License 509422, operates as a lender and referral service. We do not endorse any specific credit contract. Upon receiving an offer or referral to a lending partner, they will evaluate your application, provide a suitable credit contract, and inform you of the outcome. Both we and our lending partners will disclose all fees, charges, and terms before any contract is entered into. We may receive a referral fee, the amount of which is not determinable. We advise seeking independent legal and financial counsel before engaging in any financial products. The rates and loan terms provided on this website are for indicative purposes only. CashLend, as a lender, may process applications within 60 minutes, and loan disbursement may occur immediately upon contract signing. However, the timing of fund disbursement depends on your banking institution's policies.
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