OS-HELP is a loan scheme to assist some undergraduate domestic students to undertake some, but not all, of their course of study overseas. Students are able to obtain a loan up to $6,470 (if the student will not be studying in Asia) or $7764 (if the student will be studying in Asia) for every six months, but can only receive a total of two loans throughout their lifetime. Unlike other loans in the HELP, the loan amount is paid directly to the student and the terms for the loans are set out by the tertiary providers.
As in the FEE-HELP loan scheme, a 20% fee applies on the amount borrowed. This 20% "administration fee" was removed for OS-HELP loans received after 1 January 2010.