Requirement and Timing of the payment

Loan Acceptance

To accept your loan, you must:

  • Verification

    Verify your information and applied loan amount in the eCAF.

  • Submit Electronic Commonwealth Assessment Form (eCAF)

    Submit the eCAF by the deadline only after you have successfully verified your USI and TFN.

On submission of your eCAF, a PDF receipt will be sent to the email address you nominated in the form.

Timing of the payment

Once Monash Abroad has verified that the above requirements have been met, you will receive an email from Monash Abroad confirming your loan payment is being scheduled. This is likely to occur approximately four weeks before your program commencement date.

Note that even if you are departing overseas early, the loan payment will still be timed according to your overseas program commencement date, not your departure date.

A legally binding debt to the Commonwealth of Australia will be incurred at the time the loan is paid into your nominated bank account, even if you do not proceed with the overseas study.

OS-HELP loans can not be paid after the completion date of your overseas program has passed.

Changing loan amount

  • If you want to change the loan amount after you have submitted your application, you must write to Monash Abroad requesting the change.
  • You may be permitted to change your loan amount provided your request is received before you submit your eCAF.
  • Requests to increase loan amounts will only be granted if Monash Abroad assesses that sufficient funds are available for all eligible students who apply in that calendar year.
  • If you want to apply for an increase in the loan amount, you will be advised whether your request has been granted as soon as practicable, but it may not be possible to assess the availability of funds immediately.

Loan Cancellation

If you wish to cancel your loan application, this will only be possible if your loan has not been paid. To do this, write to Monash Abroad requesting the loan application be cancelled.

Monash may withdraw a loan offer prior to the loan being paid, if:

  • your circumstances change, rendering you unable to meet the OS-HELP eligibility criteria;
  • it has been determined that you have provided false or misleading information;
  • you will not, for any reason, be undertaking the overseas study;
  • you have not completed and submitted an eCAF; or
  • You have failed to verify USI and/or TFN verification in the eCAF.