Payments

There are two ways a scholarship or grant can be paid:

  1. direct payment into your bank account
  2. direct to your course fees (this will be outlined in your scholarship offer and does not include the Student Services and Amenities Fee).

If your scholarship is based on a set yearly amount, you will be paid in two equal instalments unless indicated otherwise in your scholarship offer letter or terms and conditions.

One-off scholarship and grant payments will be made in April/Early May (for offers made in semester one) or in September (for offers made in semester two).

Students in receipt of the Monash Mentors Scholarship that withdraw from their Access Monash Mentor role, will be required to return their scholarship payment.

Payment to your bank account

  • Each year we will email you a reminder to update your bank account details in the Web Enrolment System (WES).
  • If you don't provide your bank details by the requested date, your scholarship will be terminated.
  • Most payments are made at the end of April and end of September.
  • You will receive a confirmation email once the payment has been made.

Payment dates

Your payment date will depend on when the census date falls for your units.

Travel scholarships are paid in the payment date (as per below table) after either:

  • You enrol in an overseas unit, or
  • You submit evidence of your travel arrangements to CSU
Unit census date Payment date
Between 01 Jan and 15 Feb Late January
Between 16 Feb and 30 Apr Late April/Early May
Between 01 May and 30 Sep        Late September
Between 01 Oct and 31 Dec Late December

*All Exchange units (1-60) will be paid in January of the following year. This is due to the census date falling between the summer payment period.

Early payment

From 2016, some students will be eligible to be paid their semester 1 scholarship payment in March. Should a student become part time, their scholarship will be viewed as assessable income and may need to be included in their  tax return.

Payment towards your course fees

The "Payment to fees" option was introduced to provide students access to a percentage reduction in fees offered by the Australian Government if fees were paid upfront.

As the percentage reduction in fees is no longer offered by the Australian Government, from semester 1, 2021 the "Payment to fees" option will no longer be available. 

Payment calculation

Total scholarship value

When your scholarship is awarded, we calculate your total scholarship value based on the credit points required to complete your degree. This does not include advance standing. Your scholarship ends once you have been paid the total scholarship value. You can check the credit point requirement for your  course in the University Handbook.

Example calculating total scholarship value: If you have a scholarship valued at $6000 for 48 credit points per year, and you take a course requiring 144 credit points to complete (three years full-time) the calculation will be (144 ÷ 48) × 6,000 = $18,000.

How payments are calculated

Your scholarship payments will be calculated according to the number of credit points you are enrolled in at the census dates.

Note: The Semester 1,2020 Census Date is 14 April

Examples

  1. Your payment will be $2,250 if you are enrolled in 18 credit points (6000 ÷ 48) × 18
  2. Your payment will be $3,750 if you are enrolled in 30 credit points (6000 ÷ 48) × 30