Domestic students attending Australian universities are in most cases eligible for Commonwealth funding to partially pay for the cost of their degree. Most students are also offered loansor Centrelink payments to provide an income during full-time study. In addition, the Federal Government offers a number of scholarships and grants to higher education students, particularly in the area of healthcare.
Commonwealth Supported Study
Australian students or students with a humanitarian visa who are studying in Australia are eligible to apply for a HECS-HELP loan from the government. This means that you will not have to pay upfront for your studies, instead borrowing from the government. Eligible students also do not have to start repaying this loan until they earn over a certain threshold, which was $43,150 in 2009-2010.
FEE-HELP loans
A FEE-HELP loan is similar to a HECS-HELP loan, in that the government pays your tuition fees directly to your institution, and you will not have to repay this amount until you earn over a certain amount. However, FEE-HELP loans are usually offered to TAFE students. A loan fee of 20 per cent applies to a FEE-HELP loan.
Scholarships
The government also offers a range of scholarships through the Commonwealth Scholarships Program. This was introduced to assist students from low socio-economic backgrounds as well as Indigenous and rural students with the costs of their education and living expenses while they study. For those who feel they would benefit from such a scholarship, enquire directly to the university or other institution you would like to attend. For example, RMIT has scholarships available to help students who are strongly involved in their community, while the University of Sydney has a range of scholarships for people who want to include some overseas experiece in their degree, or who want to make a difference on environmental issues, or who come from a specific background.
Centrelink
Not only can students choose to study a course with government support, they can also apply for Youth Allowance or Austudy, both of which assist students by paying them a fortnightly payment. This money can then be used to pay bills, rent, buy food, and so forth.