Student loans

If you need help with study-related expenses, talk to a Senior Officer at Monash Connect.

Eligibility

Both domestic and international students can apply for an interest-free loan.

To be eligible:

  • you must be studying at an Australian campus, and
  • your financial situation must be affecting your ability to continue studying.

You’re not eligible if you’re on intermission (study leave).

What the money can be used for

We can lend you money to cover a wide range of study-related expenses such as books, laptops (to meet BYOD requirements), car expenses, housing, etc. We’ll consider other legitimate expenses if your ability to continue studying is in jeopardy.

You can't use these funds to pay your amenities or course fees, or visa charges for international students.

Loan types

Short-term

  • Borrow up to $750
  • Maximum loan period of six months
  • Guarantor is not required

Long-term

  • Borrow up to $3,000
  • Maximum loan period of 12 months
  • Guarantor is required

Loan repayments

We’ll work with you to organise a repayment schedule. You must repay the full amount of your loan by the time you finish your course or if you leave the University.

Payment methods

You can pay your loan using BPAY or by mailing a cheque. Just make sure you allow enough time for the payment transfer – payments made on a Friday afternoon (online or by phone) don't reach us until the following Tuesday.

MethodDetailsProcessing time
BPAY (online or by phone) Biller code: 172445
Reference number: use your student ID
5 days
Mail (cheque) Address
Monash Connect
PO Box 197
Monash University
Caulfield East, Victoria 3145
Australia
5 days

Non-payment or late payment of loans

If you fail to repay the loan by the due date, you may incur interest at a rate of 15.25%. You may also be encumbered (see student loan non-payment).

Application forms

Loan policy

Other loan options

Bond loan scheme

If you want to rent privately, most landlords will ask you to pay a bond. Services Australia provides interest-free loans to help people struggling to pay the bond. You can’t use the money for rent in advance or moving costs.

For more information, see DHS Bond Loan Scheme.

Bank loan

You could apply to a bank for a personal loan. You need to think about choosing a reputable lending institution, getting a good interest rate and whether you can afford the repayments. Before doing anything, talk to a Senior Officer at Monash Connect about your options.

Got a question? Monash Connect can help