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Youth Allowance or Student Eligible Loans

The Centrelink Youth Allowance, AUSTUDY or Student Loans are designed for people receiving a study benefit from Centrelink. They are studying to improve their future employment opportunity. They may also have a part-time or casual job and could be living with their parents or sharing accommodation to manage their monthly expenses.

What is a Youth Allowance Benefit?

Centrelink provides payments to eligible students, trainees and Australian apprentices which provide financial help with everyday costs and study expenses.

There are four main payments types which are Youth Allowance, Austudy, Abstudy and assistance for isolated children.

Youth Allowance provides financial help to people who are 24 and under who are a student or Australian apprentice.

Eligibility

To be eligible for Youth Allowance you must be either:

You can access more information about the Youth Allowance here.

Austudy provides income support if you are 25 or older and are a full-time student or Australian apprentice.

To be eligible for Austudy you must be:

You can access more information about the Austudy here.

What is a Youth Allowance or Student Eligible Loan?

Our Youth Allowance Loans and Study loans allows customers to borrow smaller amounts of between $200 and $800 over a 1 to 12-month period. The loan amount can be higher if you have additional wages or other income. These small loans suit those who don’t need to borrow a lot and prefer to pay their loan down within 6 months. They are designed to help you out with additional expenses whilst you are studying such as unexpected bills, help with study expenses or even help repair your car.

If you do still require a Cash Direct small loan the best way is to apply online, it only takes a few minutes.

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Frequently Asked Questions

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Can I get a loan from Cash Direct if I am on Youth Allowance or Austudy?

Yes, Cash Direct offers Youth Allowance or Student Eligible Loans specifically designed for people receiving a study benefit from Centrelink, including Youth Allowance, AUSTUDY, or ABSTUDY payments.

How quickly can I receive a Cash Direct Youth Allowance loan?

Once approved, Small Cash Loans from Cash Direct, which include the Youth Allowance loans, can be paid within 60 minutes.

What are the repayment terms for Cash Direct Youth Allowance loans?

Our Youth Allowance Loans and Study loans can be repaid over a 1 to 12-month period. Small Loans generally have terms of up to 3-12 months.

What is an Austudy benefit and who is eligible?

Austudy provides income support if you are 25 or older and are a full-time student or Australian apprentice, provided you are under the income and assets test limit.

Can I repay my Cash Direct loan early without incurring extra fees?

Yes, you can repay your loan any time without being charged additional fees, which will also reduce your overall interest and fee cost.

How much can I borrow with a Cash Direct Youth Allowance loan?

Our Youth Allowance Loans and Study loans allow customers to borrow smaller amounts of between $200 and $800. The loan amount can be higher if you have additional wages or other income.

What are the fees for a Cash Direct Youth Allowance loan (Small Loan)?

For Small Loans of $2,000 or less, there is a 20% establishment fee of the amount borrowed and a 4% monthly fee of the amount borrowed. For example, a $1,000 loan repaid over 4 months would result in a total payable of $1,360.

What is a Centrelink Youth Allowance benefit?

The Centrelink Youth Allowance provides financial help to people who are 24 and under and are either a student or an Australian apprentice, assisting with everyday costs and study expenses.

What can I use a Cash Direct Youth Allowance loan for?

These loans are designed to help you with additional expenses whilst you are studying, such as unexpected bills, study expenses, or even car repairs.

Is Cash Direct affiliated with Centrelink or Services Australia?

No, Cash Direct is not affiliated with, or endorsed by, Services Australia. However, they do provide Cash Loans, Personal Loans, and Vehicle loans for people receiving Centrelink Benefits.

Frequently Asked Questions

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