A new student loan scheme to support refugee students
Skill Path CEO Steph Cousins (second from left) and Spark Finance co-founder Ewen Hollingsworth (third from right) meeting with RSSP students Dar Dar, Alina and Sandra to launch the new Refugee Student Loan Program.
The Refugee Student Loan Program is designed to help refugee students access fair, flexible finance for essential costs that can arise before and during university study in Australia.
We exist to unlock education and training opportunities for refugees, so talented young people can build safe, meaningful futures and contribute to the Australian workforce. To support this goal, we have partnered with an established Australian student loan provider, Spark Finance, to launch a low-interest loan scheme exclusively for students in our Refugee Student Settlement Pathway (RSSP).
Why we built the Refugee Student Loan Program
Starting a degree in a new country is a huge achievement. While RSSP students can access university and government assistance, they can still face “out-of-pocket” expenses such as flights, study expenses and living costs as they settle into life in Australia. For refugee students who have had fewer opportunities to build financial security, these costs can create unnecessary barriers at a crucial moment.
That is why Skill Path has partnered with Spark Finance to launch a new, ethically designed loan scheme for students in the RSSP.
The goal is simple: to make sure students can access fair, flexible finance for essential expenses, so they can focus on settling into life in Australia and succeeding in their studies.
This loan scheme offers a safer alternative to high-interest debt. It is an affordable education loan that gives refugee students access to flexible funding to help cover any unfunded costs they encounter, including flights and related pre-departure costs, study materials, extra-curricular of professional development activities and living expenses.
The refugee loan scheme is an important step toward building a sustainable model for growth, so that more students can access education and pathways to meaningful work in Australia.
This scheme has been developed in partnership with Spark Finance, with pro-bono legal support from Allens, and input from Skill Path’s RSSP Student Advisory Group, to ensure the design reflects what young people with lived refugee experience say they need to thrive.
L-R: RSSP student Dar Dar, Spark Finance co-founder Ewen Hollingsworth, and RSSP student Elma discuss the new refugee loan scheme.
How does it work?
Spark Finance co-founder Ewen Hollingsworth and Skill Path founder Steph Cousins signing agreement to work together to establish the Refugee Student Loan Program, October 2025.
Key features of the loan include:
Concessional interest rate: 7% (simple interest during the course duration, and compounding interest after graduation).
Loan sizing: student loans are capped at $15,000 with annual drawdowns of up to $5000
Grace period: no repayments required while students are studying.
Flexible repayment options: with support for hardship arrangements where needed.
Clear administration and statements: Spark provides monthly statements and manages the loan lifecycle.
Low fees: A one-off 5% application fee applies to amounts drawn and which is added to loan balance
Backing students to succeed
Students selected for the RSSP have already demonstrated remarkable grit and determination to reach this point, having come through a highly competitive selection process. Skill Path ensures that all students in the program are matched with undergraduate and postgraduate courses that position them for success in Australia's labour market post-graduation, particularly in skill-shortage areas. This deliberate matching process is central to our confidence that students can meet their loan obligations over time.
We also recognise that life is unpredictable. The loan scheme includes flexible repayment options and hardship arrangements to ensure that financial obligations never become a barrier to a student's wellbeing or continued studies. Our goal is long-term financial sustainability for students.
How to find out more
If you are an RSSP student and think you might need support to cover essential costs, please reach out to the Skill Path team. We can talk through your situation and refer you to Spark Finance, who will assess applications and manage the process online.
Ready to apply now?
Go to the Spark Finance homepage and hit ‘Apply now’. Or access the application form directly via this link.
When you start your application, select 'I have been accepted into the Skill Path education pathway' to qualify for the low-interest loan'.
Acknowledgements
We are immensely grateful to Spark Finance, particularly Ewen Hollingsworth and Amanda Christie, for working with us to create this first-of-its-kind scheme to remove financial barriers and expand refugee access to education. Huge thanks to The Shapiro Foundation for backing this initiative with initial philanthropic capital. Special thanks also to Allens for their pro-bono legal support throughout the process of developing this loan scheme. Skill Path would like to acknowledge our Strategic Advisor Craig Mackey for leading the development of this innovative loan scheme!
