The first round of the School Loans Scheme closed earlier this year with 12 projects approved funding for $71.25 million in low interest loans.

The loans will improve educational outcomes for students by enabling schools to replace aging buildings, refurbish existing facilities and allow for the creation of specialist learning spaces.

Under the School Loans Scheme $320 million in low interest loans is available over three years to non-government schools to build new schools and upgrade their existing school facilities, including early learning centres co-located on a school site.

Amounts of between $500,000 and $10 million per school are available for loans of up to 15 years duration, with an initial five-year interest free period.

Priority will be given to infrastructure projects that support:

• increased enrolment capacity in geographic areas where there is demand for additional education provision
• student retention
• the refurbishment of existing facilities to provide a contemporary learning experience.

For more information about the second round or to apply visit the School Loans Page .