Non-government schools can apply for low-interest loans to build new schools and upgrade their existing school facilities, including early learning centres co-located on a school site.
The State Government has provided $320 million over the next three years for loans of up to 15 years duration, with an initial five-year interest free period.
Loan amounts between $500,000 and $10 million per school are available.
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.
The scheme will improve the education outcomes by ensuring more South Australian students have access to contemporary learning facilities.
The scheme is not available to refinance existing debt, including loans approved under the State Government’s previous loans scheme. In some circumstances debt refinancing may be approved by the Treasurer of South Australia if it will facilitate a new infrastructure project which meets the criteria.
Round one applications closed on 26 February 2021.
More rounds of the School Loans Scheme grants will be available later in 2021.
Enquiries can be directed to email@example.com.