Monash University - Interest-free loans
Monash University is one of Australia’s leading tertiary education institutions. We have 5 campuses in the country and 1 in Malaysia as well as in other leading countries including Asia, Europe, India, China, Italy and South Africa.
We aim to make a difference to the community and help to provide financial assistance to those students from disadvantaged backgrounds. We strive to stay abreast with the latest technology and the latest innovations in the education and technology sector.
We dedicate ourselves to investing in the student’s future and helping them achieve their career goals and support them all the way through their university degree and beyond.
The student loans can be used to cover all study-related expenses such as internet cost, textbooks, transport costs or rent. If you are not sure what you may use the loan on you can speak to one of our Monash student advisors.
Short term student loans
Short term loans allow the student to borrow up to $750 which needs to be paid back over 6 months. A long-term student loan allows the student to borrow up to $3,000 and gives the student 12 months to repay the loan.
Our student loans are available to both domestic and international students and are completely interest-free. You need to be studying at a university in Australia. If you are on a student leave you may not apply.
Financial assistance to continue studying
Monash University offers interest-free student loans to those students that are having a difficult time financially and need financial assistance to help them continue their studies.
Short term student loans
Monash University offers short-term quick loans of up to $750 these loans can be used to pay for study-related expenses such as books, study materials, laptops and student housing. There are a few restrictions on what the loan can be used for.
How do I pay back the loan?
To pay back the loan you will need to make regular instalments as set out in the terms of your loan agreement.
You can make payments at the Monash University campus or you can pay via cheque, credit card internet banking or BPAY. Remember to use your student ID as the reference number so that your payment can be traced easily.
To apply for a short-term student loan you will need to supply the following supporting documents:
- The completed online loan application form
- A copy of your banking details that is completed and signed
- A recent bank statement
- Proof of income including pay slips, bank statements and Centrelink letter
- Other supporting documents that may apply depending on your loan agreement include your rental agreement or quote for certain study materials.
We will come up with a repayment plan together that is easy for you to manage and won’t cause you additional stress. The full amount of the loan will need to be paid back by the time that you finish your studies or as soon as you
Monash University Student loan
- Loan Type Student loans
- Loan Amount up to $3,000
- Repayment 12 months
Benefits of Monash University
- Student loans up to $3,000
- Up to a 12-month repayment term
Monash University -Helping student reach their potential
A guarantor is a person who agrees to be legally responsible for the payment of your debt if you can’t make the payment yourself. All long-term loans over $750 require a guarantor to co-sign on the loan.
The guarantor must:
- Be over the age of 25 years old
- They must live and work in Australia
- Have full-time employment
- They can’t be a full-time student or study at Monash or any other tertiary institution
- This person can’t be your spouse or fiancé or someone that you live with
Bond scheme student loans
Other student loan option includes bond scheme student loan that allows you to rent privately. Most landlords require a bond. The Department of Human Services (DHS) grants interest-free loans to those students that can’t afford to pay a bond.
Another option is applying for a loan from the bank and paying for your student loan by obtaining a personal loan. You will need to make sure that you look for a favourable interest rate and get the best deal available to you.
Giving to Monash
You can make a difference in a student’s life by giving back to one of our causes. Change a life by helping donate to our scholarship fund that allows disadvantaged students access to scholarships that they would not otherwise of had access to. These funds make a huge difference in students life’s that live in rural areas and are struggling financially.
Create a legacy
Leave a bequest in your will as a gift to Monash to continue your legacy and support a student and help them become a legacy in their own right. You can agree to give anonymously or establish a fund in your name.
If you have any questions or would like to learn more about our student loans please give us a call on +61 3 9902 6000 or use our online contact form and we will contact you.
Customer Reviews & Testimonials
A great school that offers amazing student loan options with affordable repayment structures. Excellent options to consider!
— Melbourne —
Convenient and easy online application, did not take long to complete or to get my approval. Very professional service.
— Melbourne —
Monash University Contact
- Monash University, Wellington Rd Melbourne Victoria 3168 Australia
- Get Directions
- Monash University , Victoria, 3800, Australia
- Monday 08:30 – 17:30
- Tuesday 08:30 – 17:30
- Wednesday 08:30 – 17:30
- Thursday 08:30 – 17:30
- Friday 08:30 – 17:30
- Saturday – Closed
- Sunday – Closed