The current cost-of-living crisis has many young people worried about paying their costs, the biggest of which is often rent or loan payments.

If you’re in that category, here are a few ways you may be able to get some extra support.

Are you eligible for rental assistance?

Rental assistance is a government initiative available for renters who receive certain types of support from Centrelink. These may include the following:

• Age Pension, Carer Payment or Disability Support Pension
• ABSTUDY Living Allowance, Austudy or Youth Allowance
• Special Benefit
• Family Tax Benefit – Part A at more than the base rate
• Parenting Payment if you’re in a couple or single
• JobSeeker Payment or Farm Household Allowance.

Source: Services Australia.

Some people who live in community housing can also get rental assistance.

In order to claim rental assistance, you need to be eligible and apply for one of the above forms of support.

The amount you receive varies, depending on the form of payment you receive. In 2024, it ranges from just over $120 per fortnight to $245 per fortnight. You can read more here.

The National Debt Helpline

If you’ve fallen behind on your payments and need help coming up with a plan, you can call the free National Debt Helpline on 1800 007 007 to be linked with a financial counsellor.

No interest loans

If you’ve missed a payment, you may also be able to apply for a no interest loan through Good Shepherd (link). The support service offers loans of up to $3000 for eligible people who need support.

Like every article on this website, this is not personal financial advice.