Student loans are, as their name suggests, loans that are given to Australian students. Student credit cards are also available to students.

Student loans can only be given to students over the age of eighteen years. This means that some year 12 high school students would be eligible but the majority of people with student loans are university students.

Student loans and student credit cards are similar because, not only are they both available only to students, but also the loans and credit cards usually have a better rate of interest or a fee waived or some other benefit that is given because the recipient is at school, university or college.

Student Credit Cards

Normal credit cards are not available to those under eighteen (unless it is actually a card on a parents account), student credit cards are tailored for those young students who may be having difficulty with day to day cash flow. Student credit cards normally have low limits and low or no annual fee.

Most banks and lenders have some type of student credit card, it's worth asking around.

Just remember, if you are after a student loan or student credit card, be sure to take the time to read the fine print before accepting either.