How to apply – US financial aid

To apply for financial aid, please complete all six steps to initiate your application:

  1. Create or update your FSA ID.
  2. Complete the Free Application for Federal Student Aid (FAFSA). Monash University's federal school code is G10914.

    FAFSA generates an electronic Student Aid Report (SAR), which has your financial aid history and your Expected Family Contribution (EFC) amount. We'll use this information to determine your Cost of Attendance (COA) and how much you’re eligible to receive.
  3. Complete the Direct Loan Entrance Counselling (first time borrowers at each grade level must complete this).
  4. Sign a Master Promissory Note (MPN) (if you are a graduate student and wish to borrow Graduate PLUS loan, you must also sign a Graduate PLUS MPN).
  5. Download and complete the Monash financial aid application (pdf, 0.08 mb).
  6. Email the completed form to

  7. If you applied for a federal student loan last year, you may be able to complete a renewal FAFSA between November and December each year. If you completed a renewal, you also need to complete steps 4–6 to reapply for financial aid.

Borrowing limits

We will calculate your cost of attendance (COA) to determine your loan amount based on the following:

  • course fees – as stated on your International Student Course Agreement (ISCA)
  • Overseas Student Health Cover (OSHC) – as stated on your ISCA and in accordance with your student visa requirement (one-off)
  • living expenses – approximately AUD$31,000 (housing, utilities, local travel, meals, etc.)
  • computer costs – approximately AUD$1,500 (one-off)
  • other costs – approximately AUD$2,000 (loan fee, books, supplies, etc.)

The currency exchange rate that is used to calculate the cost of attendance may be different when the loan funds are disbursed. If the rate fluctuates more than 20%, you may request a recalculation of the cost of attendance.

Students with dependents

Students with dependents may apply for an allowance for dependent care to be included in the COA by submitting supporting documentation. This allowance is based on the estimated expenses incurred (during class time, study time, fieldwork, internships and commuting time for the student) based on the number and age of the dependents. This is not to exceed the reasonable cost in the community for the type of care provided (Higher Education Act, 472). Approval depends on your EFC and eligibility.

Students with dual US and Australian/New Zealand citizenship or permanent residency must declare any financial support received from the Australian/New Zealand Government.

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