DEPARTMENT OF EDUCATION SERVICES
LOW INTEREST LOAN SCHEME
FOR NON-GOVERNMENT SCHOOLS
GUIDELINES AND PROCEDURES
The State Government provides funds through the Low Interest Loan Scheme (LILS)
to assist non-government schools to undertake a wide variety of projects which will
enable them to provide facilities at a similar level and standard to those provided in
government schools of an equivalent size and type.
Section 186 of the School Education Act 1999 provides the Minister for Education with
the necessary powers to lend money to approved non-government schools for the
purpose of undertaking capital works.
These guidelines apply to loans advanced since 1 July 1997. All loans advanced prior
to that date will continue to be subject to the previous guidelines.
Projects are classified according to the three categories listed in Column 1 of the table
at Section 9 of these guidelines. Where a project has elements in more than one of
these categories, the category for the purpose of calculating the interest rate and
equity contribution applicable to the project will be determined by the Minister for
The interest rate payable on loans is based on a “benchmark rate” which is
negotiated from time to time by the Minister for Education following consultation
with representatives of the peak non-government school authorities.
CLOSING DATE FOR APPLICATIONS
(of year prior to financial year the funds are required - e.g. 30/10/09 for 10/11 funding)
Contact Catholic Education Office for details
APPROVAL OF LOANS
Announced by end of February 2010
Funds available from 1 July 2010
LOW INTEREST LOAN SCHEME - GUIDELINES & PROCEDURES
The interest rate applicable to an individual loan is dependent upon how the relevant
project is assessed according to the three categories referred to at clause