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Finance - frequently asked questions

Q. Am I eligible for Youth Allowance/Austudy?

Whether you are eligible for Youth Allowance or Austudy (Austudy is for students aged 25 year and over when first applying) will depend on a number of factors, such as, if you are a full-time or part-time student, the course you are undertaking and the number of years you have been studying in your current course or a course at the same level. Your income, or that of your parents or partner if you have one, can also determine your eligibility for a government allowance.

For those students applying for Youth Allowance, a good starting point is to see if you fit one of the criteria that make you eligible for Independent Youth Allowance (parents income is not taken into account). Otherwise you may be eligible for the 'Away from Home' category (your parents will be means tested, but a more generous one than the standard rate). If neither of the above then maybe you are eligible for the standard rate. For further assistance check out the Centrelink website.

Q. How much Youth Allowance/Austudy will I get?

It is always difficult to give an exact figure as it is dependent on individual circumstances. In the case of Youth Allowance, it will depend on the category of Youth Allowance you are eligible for and will be based on your income and possibly that of your parents or partner. With Austudy, it will depend on your income as well as that of your partners', if you have one. For more information, refer Centrelink website.

Q. Can I get a student loan?

You may be eligible to apply for a student loan to assist you pay expenses related to your study. When applying for a loan you will need to attend an interview and will also be asked to provide your budget details, as loans will not be granted if you don't have the ability to repay in the allotted time.

Find out more about student loans.

Q. Is interest charged on student loans?

No, not if you pay it by the due date. However, if you default on your loan, a late payment fee of 10% of the outstanding amount will be added to the loan on the first day after the final repayment date and then on an annual basis until the loan is paid in full. Your results will be blocked and you will not be able to use the library and Information Technology Services, re-enrol or graduate until your loan has been repaid in full. Failure to pay off your loan may also result in your details being handed over to a debt collection agency.

Find out more about student loans.

Q. Can I get help to pay my fees?

Read more about loans and discounts available to students.