Our exchange arrangements with universities all over the world mean that as a Monash exchange student you won’t pay additional tuition fees with any of our partners. All you pay are your normal HECS or Monash tuition fees for the time you are away. This is because Monash and our exchange partner universities trade people, not money.
If you plan to study overseas with a university that is not a Monash partner, you’ll pay fees directly to that university, in place of your Monash fees. You should check to see if you’re eligible for any scholarships or grants to help you.
Living and travel costs are your responsibility
Your living and travel costs aren’t included in your fees, so you’ll need to budget and pay for them. The cost of living varies from country-to-country, and also depends on the length of time you plan to be away. Make sure you budget to have enough money to cover you for things like your return airfare, travel insurance, visas, accommodation, food, text books, sightseeing, entertainment and any extra travel you plan to do.
Living and travel costs range from as little as $2,000 in total for short-term international study programs, up to $2,000 per month – more in some high-cost countries – for full semester exchanges. Some partner universities also require you to pay for health insurance or orientation activities, so be aware that extra costs like these might pop up.
The exchange application includes a financial plan worksheet, which you should take seriously when completing. To make sure your experience is everything you want it to be think about the exchange rate in your host country, how much living costs are and make a plan to save money right up until you depart.
Funding your trip could be easier than you think
Monash Abroad Travel Grant
The Monash Abroad Travel Grant packages could get you well on your way to experiencing study overseas. The packages support a range of overseas programs (like exchange, faculty overseas programs, internships and research), and could give you up to $2,500 to spend any way you like – they even include insurance.
It’s possible to hold more than one scholarship, bursary or grant at a time, so checking out all of the funding opportunities available to you is a good idea.
You may be eligible for a Monash Travel Abroad Equity Bursary, and the Australian Government has a number of grants to encourage students to study overseas. You may also be able to source some funding through our partner universities – they provide scholarships and grants to encourage you to choose them as your destination.
Many students take out an OS-HELP loan to help fund their time away on overseas study programs – it works just the same as a bank loan, but without any fees or interest, is much more affordable.
Monash student financial aid offers interest free loans, of up to $3000, with flexible repayment schedules for current Australian Monash students. Find out more about student loans and grants.