At Swinburne, we offer the No-Interest Loan Scheme (NILS) alongside our partners Good Shepherd Microfinance for essential living products for those experiencing financial hardship. These small, no-interest loans of A$300–A$1,200 are designed to pay for essential items such as:
- household appliances (e.g. toaster, heater)
- some medical and dental services
- furniture (e.g. beds, mattresses, tables)
- education (e.g. course materials, course fees)
- vehicle repairs
NILS is available to students who can demonstrate that they are in financial hardship and repayments are spread over a 12-month period. The loans cost nothing to set up and accrue no interest.
NILS loan eligibility
To be eligible, you need to:
- hold a Health Care Card or Pension Card or be on a low income
- have lived in your current residence for at least three months
- state a clear purpose for the loan (e.g. "I need a NILS loan to buy a bed")
- show your willingness and ability to repay the loan.