Student loans
If you need help with study-related expenses, or you’re experiencing financial difficulties, you may be eligible for a student loan.
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.
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).
Loan types
With short-term loans:
- you can borrow up to $750
- the maximum loan period is six months
- a guarantor is not required.
With long-term loans:
- you can borrow up to $3,000
- the maximum loan period is 12 months
- a 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 in person at any Monash Connect front counter using EFTPOS or credit card. 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.
| Method | Details | Processing time |
|---|---|---|
| BPAY (online or by phone) |
Biller code: 172445 Reference number: Your student ID | 5 days |
| Visa or Mastercard (by phone) |
Call Monash Connect on +61 3 9902 6011
Make sure you speak to a Monash Connect Officer when paying by phone, as the automated payment service is for tuition fees only | 2–3 days |
| Visa, Mastercard, or EFTPOS (in person) | Monash Connect front counters – see our locations | 2–3 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
- Short-term loan (pdf, 0.08 mb)
- Long-term loan (pdf, 0.09 mb)
- Guarantee form (pdf, 0.06 mb)
- Banking details (pdf, 0.08 mb)
Submitting your application
Return the completed application form along with supporting documents to Monash Connect at any Australian campus. Alternatively, you can scan your application form and supporting documents and submit an enquiry through MoVA with them attached.
Please keep a copy of your application form for your records.
Do not, under any circumstances, submit fraudulent documentation
Penalties for submitting a forged, altered or falsified document can include exclusion from the University, a fine of up to AUD $1,000 and a permanent record in Monash systems.
To find out more about your responsibilities (and what you should do if you don’t have the required supporting documents), see our documentation integrity page.
Notification of outcome
Your application should be processed within three to five business days. Once your application has been assessed, a Monash Connect Officer will contact you by email or phone.
Loan policy
Another option: 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.
Got a question? Message Monash Connect
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