Centrelink Start-up Loan Worth $2546 is Available for These Aussies: Eligibility Details. The Australian government provides various types of relief aid to its citizens. The government has now launched a programme to provide financial assistance to students in 2025. The programme is named Student Start-up Loan (SSL). This loan will be provided to eligible students of Australia to provide them with financial help that is interest-free. Read the complete article to learn more about this start-up loan worth $2546.
Centrelink Start-up Loan Worth $2546
The student start-up loan is a voluntary $2546 loan for eligible students who get Youth Allowance, Austudy or ABSTUDY Living Allowance. This loan worth $2546 will be provided to eligible students by Services Australia to provide them with financial aid. The loan has been announced for 2025, and those who want to apply can apply after checking their eligibility. The main aim of this loan is to help young students who want to pursue higher education but are unable to do so due to lack of financial resources.
This loan has to be repaid by the students after they start earning a specified income level. Students have to repay the total amount of the loan, including the borrowed sum along with any indexation applied during the loan period. In this article, we will further discuss the student start-up loan for 2025, including eligibility criteria, how to apply and the loan amount.
Key Highlights
| Particulars | Details |
| Program Name | Centrelink Student Start-up Loan |
| Providing Authority | Services Australia and Centrelink |
| Country | Australia |
| Loan Amount | $1,273 per loan period, available two times a year, means $2,546 annually. |
| Interest and Indexation |
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| Loan Duration |
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| Application Process | You can apply through your Centrelink online account via MyGov |
| Category | Finance |
| Official Website | Services Australia |
Eligibility Details
To be eligible to receive this student start-up loan, an individual must fulfil the eligibility criteria given below:
- Receive Payments: To be eligible, the student must be receiving any of the following payments:
- Youth Allowance
- Austudy
- ABSTUDY Living Allowance
- Current Status of Enrolment: The student must be enrolled as a full-time student in a higher education course from an institution approved by Services Australia. This includes diplomas, bachelor’s degrees, and other recognised qualifications.
- Tax File Number (TFN): It is mandatory to provide your tax file number while filing for the loan. This is to ensure your repayment system will run smoothly.
- Citizenship or Residency: The applicant must be a citizen of Australia or must meet the residency criteria set by the Australian government to be eligible for the loan.
- Not Receiving These Benefits: The applicant must not be receiving any of the following benefits for the same period:
- Veterans’ Affairs Student Start-up Scholarship
- Commonwealth Education Costs Scholarship
How to Apply?
- Log In to MyGov: Visit the website of MyGov and log in to your Centrelink online account. You must have your Centrelink account linked to MyGov. If not, then link it to continue the procedure of applying.
- Application Form: After logging in, fill out the application form by entering the necessary information. Carefully fill out the application form to avoid mistakes. Upload the necessary documents, including the tax file number.
- Submit and Wait: At last, submit the form and wait for Services Australia to review it and provide you a loan if you’re application is accepted.
Amount Details
Eligible applicants can receive up to $1,273 per loan period, with two loan periods each calendar year:
- 1 March to 30 June
- 1 July to 31 December
The students can borrow up to $2,546 annually if they apply for loans in both periods. The loan will be directly deposited in your bank account after the approval of your application form.
Repayment of Loan
This payment is not a grant but a loan, so it needs to be paid back. The students have to pay back the loan through the Australian Taxation Office (ATO) when their income is more than the minimum repayment threshold. Students can also make extra voluntary payments to pay the loan off sooner. To pay the loan, you will need to provide a specific percentage of your income. The rate will be based on how much income you earn. The loan is interest-free but indexed annually to adjust for inflation.