The University of Melbourne - Financial aid solutions
The University of Melbourne provides students with financial aid solutions to those students that cannot afford to pay for their studies.
We offer the students financial aid and information on the cost of living, how much a student loan would cost and give advice on how to budget and how to do your taxes correctly. We also offer advice on other financial matters. All the interviews that we conduct are 100% confidential.
Our role is to assist students that are experiencing a financial hardship that is causing them not to complete their studies. We aim to assist the student by granting the student with a financial solution to the problem. Long-term loans allow the student to borrow a maximum of $5,000 to assist students that are currently enrolled at the university and busy with their studies.
No interest fee
The University of Melbourne does not charge any interest on their student loans.
Purpose of the loan
The loan can be used to pay for basic living conditions and basic living expenses such as rent, gas, books and electricity. A student can apply to use their loan to pay for a car, replacing traditional vehicle finance, if the student can show that the car will help them continue their studies.
Students living in an area that does not have wide access to public transport can apply for a car loan as a car will be essential for them to get to class safely. The student can apply for a loan to pay for certain travel purposes if the travelling is for study-related purposes. Students can apply for a loan for other expenses if they impact the student’s education in any way.
Apply online for a student loan
To apply for one of our student loans you will need to have a guarantor to co-sign on your loan.
A grantor will be required if the student applies for a long-term loan. The guarantor will co-sign the loan and will be responsible for payments if you are unable to make the payments yourself.
The grantor must meet the following criteria:
- Be over the age of 21
- Be a citizen of Australia
- Prove that you have a stable income and can afford the loan payments
- A grantor could be a parent, relative or friend.
- They cannot be your spouse, housemate or another student
You will be asked to provide additional contacts these can include people that you have regular contact with but can’t be your guarantor.
Before you will be able to travel overseas you will need to get written permission from your guarantor as you are in debt to them and will not be permitted to travel without their permission.
If you need to travel as a part of your course requirements then this clause can be worked into the loan agreement.
If you have any outstanding long or short term loans when you apply for a long-term loan we will add this debt to the loan amount and consolidate your debt into one easy payment.
At your appointment, the Financial Aid advisor will discuss all the options that are available to you.
The University of Melbourne Student loan
- Loan Type Student loans
- Loan Amount up to $5,000
Benefits of The University of Melbourne
- No interest on loan term student loans
- Get a loan with the help of a guarantor
The University of Melbourne - Quality loans for students
We assess your application based on your financial needs. Students will be judged by their personal income and expenditure as well as how the loan will be used to implement their studies.
How do I pay back the loan?
The student will be able to pay back the loan in monthly instalments via BPay, cheque, money order or direct debit.
The loan will need to be paid back in full if the student leaves the university before they have completed their studies. If the student is in the position to repay the loan early there will be no penalty fees charged.
To apply for a student loan please log onto our website and complete the long-term loan application form.
You will need to supply the following supporting documents:
- A copy of your photo ID document (this can include your driver’s license or passport)
- Proof of your residential address
- Proof of your guarantor’s residential address and residency status (this can include their passport, PR visa or birth certificate)
- Proof of income (including pay slips, tax assessment notice or a letter from your accountant.
Your student loan application will be assessed, and you will receive an e-mail notification about the outcome of your application within 3 days after you apply. If your application is approved, we will e-mail you a loan contract that you must sign. The contract will also let you know exactly what is required form you next to proceed with the loan application process.
If your loan application is unsuccessful then we will inform you in writing and refer you to [email protected] if we can assist you, we will help you fix the problem and resubmit your loan application for reconsideration.
You may be required to provide additional information or other supporting documents depending on your loan agreement and individual case.
Customer Reviews & Testimonials
When I found out I could get an interest free student loan from the University of Melbourne I was absolutely over joyed. Could not have ased for more!
— Melbourne —
Love that there was no interest added to my loan and I could easily manage repayments online.
— Melbourne —
The University of Melbourne Contact
- Grattan Street Parkville Victoria 3010 Australia
- Get Directions
- The University of Melbourne, Victoriatoria, 3010, Australia
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