College is an exciting time, but amidst all the hype reality will eventually set in. How will you afford it? Here’s 5 reasons to get a Student Loan.
1. It’s an investment
It can be hard to see the value of an Education Loan. With a Car Loan or even a Mortgage, the benefits are physically evident. But with a loan to pay for your Education, your purchase is more long-term. You will not see the benefits straight away.
While this can be tough, it’s important not to lose sight of the end goal. Think of an Education Loan as an investment. You are placing trust in yourself, enough to know that you will be repaid in multiples by the opportunities that completion of your college course will provide.
2. Structure (fixed payments)
College life is frantic. It can feel like you are constantly being pulled between tasks. A steady repayment cycle can provide some structure to your life. This is a good skill to master both in your college life and when you reach the workplace. Structure will help to get the job done.
3. Promotional Interest Rate
Our Education Loan is available at just 7.99% (8.3% APR). But rather than bore you with these details, just open up our Loan Calculator. From here you’ll see how much the loan will cost you over your specified repayment duration.
4. Credit History
As a student, your financial future may not be front of mind. But your future self will thank you for showing responsibility and capability when meeting loan repayments. When it comes to upgrading your car, or even looking to purchase a home, your credit history can be vitally important.
5. No hidden fees or charges
Our Education Loans have no added fees or charges. You can enjoy free loan protection insurance*, and there’s not even a penalty for early repayment. So if you land your dream job after graduating, you can pay off your loan in larger instalments at no extra cost.
We could go on, but there are 5 reasons to get a Student Loan. If we have you convinced, head to our Education Loan page for more information. Or you could start your application right away from our Loan Calculator.
*Lending criteria, terms and conditions apply.