Financial Assistance & Student Loans

Financial Assistance

University of Ballarat students in all courses are eligible to apply for assistance through the Youth Allowance Scheme.  Application forms are available from the University of Ballarat, Student Development or any Centrelink Office.

Other forms of financial assistance are also available for students.  For further information telephone Student Development on (03) 5327 9470.

Student Loans

The University of Ballarat has a commitment to a Student Loans Fund, administered according to the following principles:

(a)   the major objective will be to assist students to complete their studies;

(b)   management of the Fund will comply with the University’s educational objectives, particularly in relation to equity and social justice, and encouraging students to handle their own financial affairs.

The following bases have been established by the University with respect to its loan funds:

Eligibility

Any currently enrolled student studying on campus, apart from those studying a full fee paying course, may apply for a loan.

Range of loans

Students may apply for up to $2000 at a time with the exception of first year students who may apply for up to $1000 at a time.

Purpose

The Student Loans Fund is to help you with costs that would affect your ability to study if you were not able to get the money.  Some items that may be considered include textbooks, course materials or off-campus accommodation.

Loans will not be given for Tuition, General Service, Residence or Amenities Fees or Higher Education Contribution Scheme (HECS) Fees.  Fee deferment processes are in place on all campuses for the cost of these fees.  Loans are not normally approved for the cost of computers.  Loans are not available for the purchase of motor vehicles.

Repayment

As a general rule, smaller loans ($1000 or less) are required to be repaid within 12 months of the granting of the loan.  For amounts above $1000, the loan is to be paid out before the end of the students’ current course.  All amounts owing become due and immediately repayable when the loan recipient ceases to be an enrolled student of the University.  In both cases repayment by instalments may be negotiated.

Interest

Interest is payable at the current rate of 10% per annum.  If the student complies with the loan conditions, and payment(s) are made on or before the due date(s), then the interest will be reduced to a concessional rate of 5% per annum.  Interest is simple interest calculated on a daily reducing balance.

Administration Fee

The Student Loan Fund Committee may at its discretion charge an administration fee of up to $40 on each occasion where it is necessary to follow up overdue loans.

Guarantee

A guarantee is required for all loans of greater than $500 and for students under 18 years of age.

Loan Application Forms may be obtained from the Student Loans Office.

All loan applicants require an appointment for an interview with the Student Loans Officer.  Appointments can be arranged by contacting the Student Loans Officer or the Financial Operations Section.  Completed application forms and supporting documents are to be brought to the interview.

For further information on student loans please contact the student loans officer:

Email address:   a.stewart-speed@ballarat.edu.au

Phone:               +61 3 5327 9334

Facsimile:          +61 3 5327 9333