In an effort to assist students with financial difficulties, the Australian government has introduced the $1321 Cash Boost under the Student Start-up Loan (SSL) program.
This loan provides eligible students with financial assistance to cover essential study-related costs, including living expenses, travel, and study materials. This article covers the key details of the SSL program, including eligibility, application steps, and important dates.
What is the $1321 Cash Boost?
The $1321 Cash Boost is a financial loan provided to eligible students in Australia, offering a Student Start-up Loan of $1,321 per term.
This loan is available twice a year, with each term spanning from January 1 to June 30 and from July 1 to December 31. The total loan amount per year is $2,642, which is divided into two payments.
The primary purpose of this loan is to assist students who are struggling to meet the financial demands of their education. However, it’s important to remember that this is a loan, not a grant, meaning it must be repaid once the student’s income exceeds a certain threshold.
Official Announcement
On September 20, 2025, Services Australia officially opened the application period for the 2025 academic year for the Student Start-up Loan. This announcement highlighted that the $1321 Cash Boost would be available to eligible students twice a year.
The loan offers financial support to assist with living expenses, study materials, and travel costs. Importantly, this is an interest-free loan, and students are not required to make repayments until their annual income surpasses a set threshold of $51,550.
Eligibility for the $1321 Cash Boost
To qualify for the $1321 Cash Boost, students must meet the following eligibility criteria:
| Eligibility Requirement | Details |
|---|---|
| Centerlink Payments | Must be receiving Youth Allowance, Austudy, or ABSTUDY Living Allowance. |
| Full-Time Enrollment | Must be a full-time student at an accredited university or college. |
| Income Threshold | Must not be eligible for a Commonwealth Scholarship during the same time frame. |
| Age Criteria | Must be a full-time student, with no age restrictions for Youth Allowance or ABSTUDY recipients. |
Students who meet these criteria are eligible to apply for the Student Start-up Loan through the myGov website.
How to Apply for the $1321 Cash Boost
The application process for the $1321 Cash Boost is simple and can be completed online via the myGov portal. Here are the steps to apply:
- Log in to myGov: Visit the myGov website and log in using your credentials.
- Link your Centrelink Account: Ensure that your Centrelink account is linked to your myGov account.
- Start Your Application: Click on “Make a Student Start-Up Loan Application” under the “Payments and Claims” section.
- Fill in Your Details: Provide accurate details regarding your current education, income, and living expenses.
- Submit Your Application: Review your application and submit it for processing.
- Wait for Approval: Your application will be evaluated by Centrelink, and the loan amount will be deposited directly into your bank account once approved.
- Create a Repayment Plan: If your income surpasses $51,550, repayments will be automatically deducted through the Australian Taxation Office (ATO).
$1321 Cash Boost Dates
The Student Start-up Loan is available for two periods each year:
| Application Period | Dates |
|---|---|
| Phase One (January to June) | January 1 – June 30 |
| Phase Two (July to December) | July 1 – December 31 |
Make sure to apply within these time frames to ensure timely processing and payment of the $1321 loan.
Important Considerations Before Applying
Before applying for the Student Start-up Loan, students should consider the following:
- Loan Repayment: As the loan is repayable, it will impact your finances after graduation. Consider whether you are comfortable taking on more debt.
- Other Financial Support: Explore non-repayable options like scholarships and grants before opting for a loan.
- Budgeting: Assess your current financial situation and decide if you truly need the loan to cover your study expenses.
The $1321 Cash Boost through the Student Start-up Loan offers much-needed financial relief to eligible students in Australia.
With the loan available twice a year, students can use it to help cover essential costs related to their education.
However, it’s important to remember that this is a loan, not a gift, and must be repaid once the student’s income exceeds $51,550. Be sure to apply during the specified periods to take advantage of this financial aid.
FAQs
How much is the Student Start-up Loan?
The Student Start-up Loan offers $1,321 per loan term, with two terms per year, making the total annual amount $2,642.
What are the eligibility criteria for the $1321 Cash Boost?
Students must be receiving Centrelink payments such as Youth Allowance, Austudy, or ABSTUDY, and must be enrolled full-time at a recognized institution.
When can I apply for the Student Start-up Loan?
Applications are open twice a year: January 1 to June 30 and July 1 to December 31. Make sure to apply within these periods to ensure timely processing.