There are 2 Loan periods each calendar year.
These are from:
- 1 January to 30 June, and
- 1 July to 31 December
How much the loan is
The loan is a set amount of $1,077 per loan period. We review this amount on 1 January each year.
How we pay you
You’ll get the full $1,077 in one payment after you apply, and as soon as you’re eligible.
When we’ll pay you
If starting a new course, we’ll pay your loan with your next regular student payment after your course start date.
If you’ve applied for future loan periods, we’ll pay each one with your regular student payment from:
- 1 January for the loan period starting in January, or
- 1 July for the loan period starting in July
You must get at least $1 of your regular student payment in that fortnight for us to pay you the loan. If you don’t, we'll keep assessing your eligibility each fortnight. This means you may get the loan at a later date.
See when we pay your loan to you in your Centrelink online account through myGov. Select Payment History from the menu.