Understanding university costs, scholarships, and financial support

Understanding costs | Degree costs | Financial support | Scholarships | Scholarship applications | Our tips | Here to help

Starting university is an incredibly exciting milestone. We’ve outlined what to expect in your first year at Monash, but you may have questions about the cost of study – what you’ll need to pay, what can be deferred, and what financial support (including scholarships) might be available to you.

The good news is that these costs are often more manageable than they first appear. Between government support, a wide range of scholarships, and other financial support options, there are practical ways to make university study more accessible.

In this guide, we’ll step through the things to know – from how fees work to the support available – so you can plan ahead with clarity and confidence.

What does a university degree cost?

The cost of an undergraduate degree at Monash will depend on your course, your fee type, and your individual circumstances. While it may feel complex at first, it becomes much clearer once you understand how the system works.

Financial support options

There are a range of support options available to help reduce the financial pressure of studying and make university more accessible.

Scholarships and grants at Monash

Scholarship applications and eligibility are one of the most common questions we hear from families and future students at Open Day. And they can play an important role in making university more accessible.

We offer a wide range of scholarships based on various personal criteria beyond just academic merit, including:

• Academic achievement
• Financial need or personal disadvantage
• Leadership, community involvement or extracurricular activities
• Specific courses or areas of study
• Personal circumstances, such as relocation or background

Some scholarships provide one-off financial support, while others offer ongoing assistance throughout your degree.

Do you need to apply for a Monash scholarship?

Each year, Monash awards more than $30 million in scholarships and grants to support students.

For many scholarships, you won’t need to submit a separate application. When you apply to study at Monash, you’re automatically assessed based on your ATAR results.

For equity scholarships, by submitting a VTAC equity schemes and scholarships application after you’ve submitted a course application, you’re also automatically considered for special consideration and equity scholarships.

If you’re eligible, you may receive a scholarship or grant as part of your course offer – no extra steps required.

The key takeaway? In most cases, you’re automatically being considered for all grants and scholarships – so it’s well worth applying to study at Monash, even if you’re unsure what you might be eligible for. You can browse our scholarship offerings here.

Our tips for future students

If you’re starting to think about studying at Monash, here are a few tips to gather the right information on costs, scholarships and financial support options:

• Start your research early, so you can learn about our courses, fees and scholarships – and the different options available to you
• Keep an open mind – you may be eligible for more support than you expect
• Stay organised with key dates and application requirements
• Reach out and ask questions at Open Day or through Monash Connect

Even if you’re unsure about your eligibility, it’s always worth explaining what’s available.

We’re here to help

Understanding university costs can feel overwhelming at first, but you’re not expected to navigate it on your own. With government support, scholarships, or financial assistance from our dedicated support teams, there are many ways to make studying at Monash more accessible.

If you have questions, speak to our team at Open Day or reach out to Monash Connect. We’re here to support you as you take this next step.