As mentioned there are 2 sorts of loans. The FTB loan which is can be paid twice a year. The first in Jan and the again in July. Being that there are only about 1 or 2 FTB payments left you wouldn't get much. To get the maximum you would be better of applying at the very start of January. The other loan is if you are in receipt of an income support payment, say Parenting Payment, or a Pension. That loan is $500 maximum and if you borrow that repayments are $38.50 over 13 fortnights.

Hope that helps.