1300 66 12 77

Frequently asked questions

Your questions answered

We’re often asked similar questions about School Fee Finance and how our product works, so we’ve collected some popular answers below. Don’t see your question? No problem; just call us on 1300 66 12 77 or contact us.

How much can I borrow?

With School Fee Finance you can borrow any amount that covers the school fees* for your children in a particular year. *Please note: School fees refer to tuition fees plus any compulsory charges but exclude extra-curricular activity fees.

When are the school fees paid?

School Fee Finance will pay your school fees in advance directly to the school. This can be either for the whole year’s fees or for the balance owed if you apply part way through the year.

How long is the loan term?

You can choose to repay the loan over 1, 2, 3, 4 or 5 years to meet your requirements.

Do you only finance annual school fees?

We will finance the balance of your school fees part way through the year subject to a minimum of $5,000.

How often are repayments required?

That’s up to you. Choose monthly, fortnightly or weekly.

What happens next school year?

We’ll contact you before the next year’s school fees are due. Just update your information and, subject to your meeting our normal requirements, we can approve and pay your next year’s fees.

Do you offer insurance cover?

Yes, we offer an optional insurance solution so that, if either parent dies or suffers total or permanent disability, then the total amount owed to School Fee Finance is repaid and your child’s annual* school fees are covered for the remainder of their high school career. Terms and conditions apply.

Can I make extra repayments?

Yes, you can make additional payments whenever you wish. You can increase the regular amount, pay a lump sum or even repay the balance in full. And all without incurring any additional fees or penalties.

How can I access my account?

Simply log in to your secure account to view statements, make a lump sum payment or increase your regular repayments.

Who can apply to School Fee Finance?

To be eligible to apply for School Fee Finance you must be:

  • Over 18
  • An Australian resident
  • Own a property

Applications are subject to our normal lending criteria.

What is the interest rate?

Interest rates will range from 9.95% p.a. to 17.50% p.a. and will depend on our assessment criteria. Comparison rates range from 11.50% p.a. to 19.05% p.a. Comparison rates are based on a secured loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

What fees are payable?

Our fees include:

  • An application fee: $495 – added to your loan
  • A new loan fee: $195 – for each additional year that school fees are approved and advanced
  • An account service fee: $9.95 per month
  • An electronic statement fee: no charge- save a tree!
  • A paper statement fee: $2.95 per statement
  • Facility closing fee: $150
  • Other non-ascertainable and ascertainable fees may apply

When do I need to apply by?

Applications to finance the whole year should be received by the 15th of January and our documents signed and returned to us by 25th of January. Late applications will attract a fee of 2% of the school fees financed which will be added to your loan. For schools with annual fee commencement date prior to December please contact us.

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