Student loan non-payment
Once your student loan is approved, we place a block on your Monash account (an encumbrance). This means that, until your loan is repaid, you won't be able to request academic records (transcripts) or graduate.
If you fall behind with a loan repayment, we’ll email you a reminder. If your loan remains unpaid:
- we may withhold your results and you won’t be able to re-enrol
- you won’t be able to access your academic transcripts or graduate
- a penalty interest rate of 15.25% will be applied to the outstanding balance.
How to get an encumbrance removed
If your loan is significantly overdue, we may refer the matter to a debt collection agency.
To get an encumbrance removed, you’ll need to pay your overdue loan amount. We’ll email your Monash account with details of the encumbrance and instructions on how to get it removed.
Once we’ve received your payment, we'll restore your access to services. This can take around two working days if payment is made by Visa or Mastercard but up to five working days for BPAY. If your access is not restored within that time, contact Monash Connect.
For payment options, see loan payment methods.