There are obviously many loan schemes around that you can access. In addition to banks and credit unions, there are loans available from the university (http://www.studentservices.uwa.edu.au/information_for/students/life/financial/loan_scheme) however you need to remember that most loans require a formal contract, may require a guarantor and in most cases will charge interest on the amount borrowed.
The Guild recognises the need for students to borrow money at times but also the difficulties students sometimes face in being able to access credit and also the loss of precious income in interest repayments. As part of the Guild’s Financial Assistance package students are provided with access to three interest free loan schemes.
Interest Free Guild Emergency Loans enables you to borrow up to $100 basically on the spot. Loans of up to $50 are to be repaid within a fortnight while loans of up to $100 are to be repaid within a month. The application process is simply and you can have up to six of these loans a year.
Interest Free Guild Ordinary Loans allows to apply for a loan of up to $600 for wide variety of purposes. The loans are repayable over a one year period and you can take out more than one during your studies as long as you have maintained a good repayment history.
No Interest Loan Scheme This is a scheme funded by Philanthropic Trusts, Church groups, Local Governments, and State Governments. It is run through a board and its purpose is to provide access for those on a low income to interest free loans of up to $1000 to purchase white goods. In 2005, the Guild became a member agency and can help students to apply for these loans.
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