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Loans for Australian Commonwealth supported (HELP) students
If you are a Commonwealth supported or CSP student, you may be eligible for an OS-HELP loan from the Commonwealth Government.
The amount you borrow will be added to your HELP debt and will be repayable under the same conditions as the HELP debt.
| How much |
Up to A$5,410 per semester for up to 2 semesters (in 2009)
Up to A$5.523 per semester for up to 2 semesters (in 2010) |
| For who |
Australian undergraduate Commonwealth supported (CSP) students. |
| Administration Fee |
Loans paid to students in 2009 will attract an administration fee of 20% of the loan amount which will be added to your HELP debt.
This fee will be abolished in 2010.
Monash normally pays loans to students about 4-6 weeks before the start of students' overseas study. Students who will be studying overseas in 2010 will have two options:
- Have the loan paid before the end of 2009 and incur the 20% administration fee
- Have the loan paid after 1 January 2010 and avoid the administration fee
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Eligibility
To be eligible for an OS-HELP loan you must:
- be an Australian citizen or hold a humanitarian visa
- not have received an OS-HELP loan on more than one previous occasion
- be enrolled in an undergraduate course of study at Monash as a Commonwealth supported (CSP) student
- have already completed at least 48 credit points of your Monash course before you go overseas
- be enrolled at an overseas university (not necessarily a Monash exchange partner), including Monash Malaysia, South Africa and Prato
- be enrolled full time while overseas, according to the OS-HELP definition of full time, which is different from the normal Monash definition (see the OS-HELP brochure for details)
- receive credit for your overseas study towards your course at Monash
- upon return from overseas, still have at least 24 credit points to complete in the Monash course for which you received credit for your overseas study
For full details, you can download an OS-HELP brochure (pdf, 4 pages, 241kb).
How to apply
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complete an OS-HELP application (pdf, 2 pages, 96kb)
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Attach it to the relevant Monash Abroad application for your overseas study (exchange, intercampus exchange or international study program)
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Send both application forms to your faculty course coordinator or to Monash Abroad as explained on the Monash Abroad application form.
Both applications should be lodged by the relevant deadline for the program you are applying for. We will only be able to approve your loan once you have been accepted on the relevant Monash Abroad program and your overseas enrolment has been confirmed.
Payment
Once your loan is approved we will pay it into your Australian bank account usually about 4 - 6 weeks before the commencement of your overseas study.
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