Australian Student Loans

[Guest southshields]

Hello. Can someone give me some information on how the student loan system differs? in Britain the loan covers your fee's and also you get a certain amount for living costs etc per year whilst you study. Is the Australian system similar? I hold dual citizenship. Is there a student forum set up for Australian students similar to The Student Room: Student Guides, Help, Advice & Community I've searched about a little bit but can't seem to find anything.

 

Thanks.

[Quoll]

No, not the same sort of living loans but there are HECS (fee) loans which, as a citizen you could access Paying for your studies (HELP loans) - follow the links.

 

Most Australian students are either heavily subsidised by bank Mum and Dad or they work part time. A lot of them dont live away from home either and so keep their costs down. All depending on your circumstances you may be entitled to Youth Allowance Youth Allowance - eligibility or, if you are over 25, Austudy.

[Guest southshields]

No, not the same sort of living loans but there are HECS (fee) loans which, as a citizen you could access Paying for your studies (HELP loans) - follow the links.

 

Most Australian students are either heavily subsidised by bank Mum and Dad or they work part time. A lot of them dont live away from home either and so keep their costs down. All depending on your circumstances you may be entitled to Youth Allowance Youth Allowance - eligibility or, if you are over 25, Austudy.

 

 

Thanks for that. Very informative. :biggrin:

[Guest cazi]

Hello. Can someone give me some information on how the student loan system differs? in Britain the loan covers your fee's and also you get a certain amount for living costs etc per year whilst you study. Is the Australian system similar? I hold dual citizenship. Is there a student forum set up for Australian students similar to The Student Room: Student Guides, Help, Advice & Community I've searched about a little bit but can't seem to find anything.

 

Thanks.

Unfortunately, as previously mentioned there is HECS which as a citizen you could apply for to defer your fee payment but your living expenses are another matter entirely. Many Aussie students used to take a gap year and earn enough money to qualify for Youth allowance after 18 months but the government has more or less stopped this option now and the vast majority can't qualify unless their parents combined income is less than about $40K. So parents have the responsibility to assist their kids through uni until they are 25 or if they won't or can't afford it the kids are on their own, and finding enough employment that pays enough to pay rent and living expenses especially in places like Melbourne and Sydney is really difficult. I know we have 2 sons currently at uni and a third finishing school this year waiting to go. Supporting all 3 of them even with them all working part time will be a real financial struggle even though we both work full time. Many parents have to do what we do and just increase our mortgage debt to try and get through the next 5 years. Many Aussie parents think were mad supporting our kids and take the attitide that at 18 they're on their own, how they manage I don't know, many don't and the pressure to quit uni is a financial one. This is real shame but a reality for many.

[Guest southshields]

Unfortunately, as previously mentioned there is HECS which as a citizen you could apply for to defer your fee payment but your living expenses are another matter entirely. Many Aussie students used to take a gap year and earn enough money to qualify for Youth allowance after 18 months but the government has more or less stopped this option now and the vast majority can't qualify unless their parents combined income is less than about $40K. So parents have the responsibility to assist their kids through uni until they are 25 or if they won't or can't afford it the kids are on their own, and finding enough employment that pays enough to pay rent and living expenses especially in places like Melbourne and Sydney is really difficult. I know we have 2 sons currently at uni and a third finishing school this year waiting to go. Supporting all 3 of them even with them all working part time will be a real financial struggle even though we both work full time. Many parents have to do what we do and just increase our mortgage debt to try and get through the next 5 years. Many Aussie parents think were mad supporting our kids and take the attitide that at 18 they're on their own, how they manage I don't know, many don't and the pressure to quit uni is a financial one. This is real shame but a reality for many.

 

Thats a shame isn't it? Everyone should be able to have the same opportunities. Nice of you to do that for them though, I'm sure if the situation was the same here my parents would have done the same for me and my younger brother. I'm under 25 but if I were to come for university in Australia I'm correct in thinking I'd be able to apply for this youth allowance with my parents still in the UK? Also with regards to this hecs system, are the repayments extreme once you leave university? Is it worth being riddled with that debt? or is it hardly noticable like the British system.

[Quoll]

Thats a shame isn't it? Everyone should be able to have the same opportunities. Nice of you to do that for them though, I'm sure if the situation was the same here my parents would have done the same for me and my younger brother. I'm under 25 but if I were to come for university in Australia I'm correct in thinking I'd be able to apply for this youth allowance with my parents still in the UK? Also with regards to this hecs system, are the repayments extreme once you leave university? Is it worth being riddled with that debt? or is it hardly noticable like the British system.

 

You would probably be pushing it to get Youth Allowance as your parents would still be subject to the parental means test (from links that I already gave you) and also if you check the residence requirements you will see that you need to have been resident here for 104 weeks before applying even if you are a citizen

 

Parental means test

 

The parental means test is used to work out if parents can financially help their dependent children, whether they are a student, Australian Apprentice or a job seeker.

 

There are 3 parts to the parental means test:

Family Assets Test

Parental Income Test

Family Actual Means Test

 

The Family Assets Test takes into account personal, business and farm assets. A 75% discount is applied to business and farm assets. No payment can be made if your family's assets exceed $580,000.

 

The Parental Income Test includes combined parental taxable income, child support, any fringe benefits received from employers, income from outside Australia and net passive business losses.

 

The Family Actual Means Test may apply if your parents or guardians are self-employed, have income or assets outside Australia, have claimed a business loss, have interests in a trust or company, or are business migrants.

 

 

Check here Tertiary education fees in Australia - Wikipedia, the free encyclopedia for a summary of how deferring HECS will impact you as you get into the workforce

[Guest cazi]

Thats a shame isn't it? Everyone should be able to have the same opportunities. Nice of you to do that for them though, I'm sure if the situation was the same here my parents would have done the same for me and my younger brother. I'm under 25 but if I were to come for university in Australia I'm correct in thinking I'd be able to apply for this youth allowance with my parents still in the UK? Also with regards to this hecs system, are the repayments extreme once you leave university? Is it worth being riddled with that debt? or is it hardly noticable like the British system.

 

Your parents unfortunately would still be subject to the means test as previous poster explained and you wouldn't be eligible until you had ben here 2 years either, thats also correct. :no:

The HECS pay back is similar to the UK, here you don't start until you leave and earn over about $43000 pa even then its not that much per week. Our eldest is just about to leave after completing his Masters but although he won't earn that initially he intends to start chipping some off sooner rather than later, especially as what you've never had you never miss and it will make it easier to adjust to when he does have to start. Unless your parents are really low earners I think most students from now on will have to forget about Youth allowance. :sad:

 

You can qualify if you work full time at least 30 hours a week for a full 2 years after leaving school, but in Oz you can only defer your uni place for a year so this is nonsense for Aussie students. Also once you have worked for 2 years they won't pay you anything if you have something like $5000 in the bank, crazy, if you've worked for 2 years to qualify, chances are you are also trying to save for uni etc, but you will then have to spend all your own money first so what is the point, they still won't pay you anything!!:arghh:

 

Basically, without parental support, life is almost impossible for students in my opinion. Unfortunately its not something most people consider when their kids are still at school, they think thats the expensive part!!

[LukeM]

When you look at Uni courses bear in mind the following...

 

PGF - Partially Government Funded

Fee - this basically means expensive!!

CSP - Commonwealth Supported Place. CSP programs are the most cost-effective!!

 

I only really know about the Queensland stuff... so when you apply to QTAC do look at the QTAC guide if you can get it, it's $15 but a worthwhile read and it goes through basically converting international qualifications to the Aus system and tells you all the entry requirements for every program on offer at all Uni's in Qld. Plus if you have any queries about it, QTAC and University admissions teams are always really helpful and there's people on here who know too so you'll be ok. They're always interested in you if you're serious about your program and will do whatever they can to help get you in if that's where you want to be!!

 

Good luck

[LukeM]

Your parents unfortunately would still be subject to the means test as previous poster explained and you wouldn't be eligible until you had ben here 2 years either, thats also correct. :no:

The HECS pay back is similar to the UK, here you don't start until you leave and earn over about $43000 pa even then its not that much per week. Our eldest is just about to leave after completing his Masters but although he won't earn that initially he intends to start chipping some off sooner rather than later, especially as what you've never had you never miss and it will make it easier to adjust to when he does have to start. Unless your parents are really low earners I think most students from now on will have to forget about Youth allowance. :sad:

 

You can qualify if you work full time at least 30 hours a week for a full 2 years after leaving school, but in Oz you can only defer your uni place for a year so this is nonsense for Aussie students. Also once you have worked for 2 years they won't pay you anything if you have something like $5000 in the bank, crazy, if you've worked for 2 years to qualify, chances are you are also trying to save for uni etc, but you will then have to spend all your own money first so what is the point, they still won't pay you anything!!:arghh:

 

Basically, without parental support, life is almost impossible for students in my opinion. Unfortunately its not something most people consider when their kids are still at school, they think thats the expensive part!!

 

 

I had heard that for HECS repayments you end up paying a lot more back over a longer period of time?? Or is that FEE-HELP

 

A Diploma at South Bank Institute of Technology I was looking at, when I asked, they said it would be $4,875 up-front which could be paid half in sem 1 and half in sem 2, but if I took FEE-HELP (if eligible!) it'd be $18,000-something over however many years it took when I was earning over $xx,000 pa!

 

:dull:

[Guest cazi]

I had heard that for HECS repayments you end up paying a lot more back over a longer period of time?? Or is that FEE-HELP

 

A Diploma at South Bank Institute of Technology I was looking at, when I asked, they said it would be $4,875 up-front which could be paid half in sem 1 and half in sem 2, but if I took FEE-HELP (if eligible!) it'd be $18,000-something over however many years it took when I was earning over $xx,000 pa!

 

:dull:

HECS and fee Help are the same thing, basically it woeks the same as a UK student loan,except that there is no maintenance part, only fee help. If you take HECS your fees are accumulated and you start to pay them back once you graduate and earn over $43000. However, like the UK student loan, it is indexed linked so you will accrue some basic interest in line with inflation I believe. What they were trying to explain I think is that if you are an Australian citizen and choose not to tajke HECS or only part of it and pay fees upfront they give you a 20% discount on the fees you pay so it is quite a saving if you have the money, but most students don't have this available. Upfront discount don't apply to PR though only citizens.

[LukeM]

...so what you're saying is as a PR you could get help without the discounts??

 

I also missed something else out!! Apparently you can use Salary Sacrificing (or Packaging, same thing) to pay student fees!

[Quoll]

...so what you're saying is as a PR you could get help without the discounts??

 

I also missed something else out!! Apparently you can use Salary Sacrificing (or Packaging, same thing) to pay student fees!

 

No, no help for PR you just have to pay upfront, no loans, no other support.

 

Some employers will certainly salary sacrifice school fees but I didnt know they did university fees and not all employers will do that - nurses are generally OK as are employees of NGOs but others will, if they have salary sac at all, be more restrictive.

[Guest cazi]

...so what you're saying is as a PR you could get help without the discounts??

 

I also missed something else out!! Apparently you can use Salary Sacrificing (or Packaging, same thing) to pay student fees!

Quolls right I'm affraid, no help if you are PR and you will be unlikely to be able to salary sacrifice unless your work for the health service or a charity. The rest of us can't do this I'm affraid.

[LukeM]

Fortunately my mum does work for the health service then! :biglaugh:

 

But of course I wasn't aware that not everyone could do it. My mum's salary sacrificing options seem pretty unrestrictive. :cute:

 

I mean, I wasn't expecting much help. I know Uni debt is going to come my way whatever happens. It's where I want to go, so what do I expect really, even if we do have to deal with 2 lump sums up front I think it's going to be a joint effort between my parents and I! :eek:

 

I can feel myself needing to get a kick in the bum and get a license and a car though ASAP when I'm working. We seem to be looking at areas that are further and further away from Uni campuses and I'll be needing to be at Griffith Nathan campus... lol

[Guest cazi]

Fortunately my mum does work for the health service then! :biglaugh:

 

But of course I wasn't aware that not everyone could do it. My mum's salary sacrificing options seem pretty unrestrictive. :cute:

 

I mean, I wasn't expecting much help. I know Uni debt is going to come my way whatever happens. It's where I want to go, so what do I expect really, even if we do have to deal with 2 lump sums up front I think it's going to be a joint effort between my parents and I! :eek:

 

I can feel myself needing to get a kick in the bum and get a license and a car though ASAP when I'm working. We seem to be looking at areas that are further and further away from Uni campuses and I'll be needing to be at Griffith Nathan campus... lol

If I were you I'd get your UK licence before you come, the instruction is heaps better and you won't have to do the 120 hours accompanied driving that you have to do here before you can take your test. You can easily swop it for an Aussie licence when you get here. Our eldest went staright to Uni with British A levels when we got here without HECS, it is expensive but we mananged it was just something we budgeting into moving here.

 

Good Luck, I'm sure it'll all work out and you'll love it here

[LukeM]

Too late about the driving thing. I'm already in Australia as I write this!

 

I had a thread about it. Everyone said do it before you get to Aus, but I just wasn't up to test scratches and time ran out and money was being wasted so I couldn't get it. Oh well.

 

Besides, someone said you can easily get some kind of transcript from previous instructor(s) and use a certain amount of hours from the UK lessons towards your log here in Australia. Which I will do! I've been there and done it. It's like, roundabouts that throw me. I can drive... just not so much at roundabouts and there's very few around here except in suburbs from what I can tell!! I've only seen one so far!! YESSS. :biglaugh:

[gedimun]

You would probably be pushing it to get Youth Allowance as your parents would still be subject to the parental means test (from links that I already gave you) and also if you check the residence requirements you will see that you need to have been resident here for 104 weeks before applying even if you are a citizen

 

Your parents unfortunately would still be subject to the means test as previous poster explained and you wouldn't be eligible until you had ben here 2 years either, thats also correct.

 

 

Hi guys, I'm just doing some research at the moment as I'm in a similar position as some of the guys were in this thread.

 

Basically I'm looking at Austudy as I'm over 25, I've been in the UK all my life with dual citizenship, and I'd like to take a Bachelor's degree in Aus next year. I will need some finances to get by and I've come across conflicting information about Austudy (and Youth Allowance).

 

If you look at the "Exemption from the NARWP" section down the page, it says you will be exempt from waiting periods if you are an Australian citizen - as in citizen's are the lucky ones who don't have to wait 2 years for financial assistance for Austudy etc.

 

http://guidesacts.fahcsia.gov.au/guides_acts/ssg/ssguide-3/ssguide-3.1/ssguide-3.1.2/ssguide-3.1.2.70.html

 

the link backtracks to here: http://guidesacts.fahcsia.gov.au/guides_acts/ssg/ssguide-3/ssguide-3.1/ssguide-3.1.2/ssguide-3.1.2.40.html

 

 

So, does anyone have any experience of trying to claim Austudy having freshly arrived back in Australia, being out of the country for over 2 years? Is it possible in practice?

 

Best wishes