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 either of the following methods:
- mail (cheque), posted to Monash Connect on your campus
- BPAY (by telephone or internet): enter biller code 172445 and use your student ID as the reference number – allow 5 days processing time.
Make sure you allow enough time for your payment transfer. Payments made on a Friday afternoon (online or by phone) don't reach us until the following Tuesday.
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