Financial hardship

If you’re facing financial hardship, you can apply for financial assistance from Deakin.

Fill in the application form below, outlining your circumstances. We will then assess your application and you may receive one of the following:

an interest-free loan
a grant, or
an essentials voucher.

You may also receive a combination of the above.

Interest-free loans

Interest-free loans of up to $2000 are available to assist with:

study-related expenses (eg. textbooks)
course-related equipment
study-related technology
placements and experiential learning costs (eg travel expenses)

A loan for other expenses (such as rent, living costs and medical expenses) will be considered on a case-by-case basis.

Grants

A limited number of grants are made available each year and awarded based on extreme financial hardship where repaying a loan would create further financial distress. Grants may be awarded for $500 and up to $2000 in extreme cases.

Essentials vouchers

A one-off Woolworths voucher valued at $50 is available to students facing short-term financial hardship to assist with the purchase of groceries.

How to apply

To request financial assistance from Deakin you just need to complete one form and we will decide what financial assistance (if any) you are eligible for. You can expect to hear from us within 3 business days.

Please be sure to include all supporting documentation so that your application is not delayed.

Supporting documentation

When you submit your application, you MUST provide documentation to support the expense you are requesting assistance for. Please have the following information ready.

Photo ID (a copy of your passport, driver’s license or Deakin Card)
Bank statements for the last 3 months
Your annual income (a copy of your tax return or some payslips)
Your annual expenses (rent, utilities, spending)
Information on any Centrelink payments you currently receive
Any other supporting documentation that would support your application. For example:
- For support to pay a bond – a copy of your rental agreement
- For support to pay rent – a copy of your eviction notice
- For support to pay a utility bill – a copy of your outstanding account.

Your application will be processed more quickly if all required documentation is attached.

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Please note the application to payment process can take a minimum of one to two weeks.
For further information about the application process, please contact Student Central.

Information about interest-free loans

Loan eligibility

To be eligible for an interest-free student loan you must:

be enrolled in an award course at Deakin (either part-time or full-time)
be progressing satisfactorily with your studies
be residing in Australia
demonstrate your ability to repay the student loan
not have an encumbrance on your enrolment
not have fees owing to any other area of the University
not use the loan to pay tuition fees
provide a guarantor (if applicable)
provide all necessary supporting documentation.

Terms of the loan

The following terms apply to an interest-free student loan:

The maximum loan amount is $2000 at any one time
Loans of $501–$2000 must have a guarantor
Loans up to $500 generally do not require a guarantor except for first year, first study period students. Students in their first year, first study period of their course are required to have a guarantor and may apply for a maximum of $500.
You must be at least 18 years of age.
Loans must be repaid within a maximum of two years or 6 weeks prior to the end of the last exam period (or the date on which the borrower ceases to become a student).
Applications for a loan may be lodged at any time but applications from students undertaking the final year of their course will not be accepted within six weeks of the last day of examinations in their final trimester, except in special circumstances.

The University reserves the right to refuse a loan if a student has a poor repayment history in relation to previous loans, does not meet all eligibility requirements or the related expense does not meet the purpose for a student loan.

Repayment terms and schedules

Loan repayments are generally due on the first of every month. Successful loan recipients will be provided with a personal loan repayment schedule detailing payment dates and amounts.

All loans must be repaid on the earliest of the following:

the due date shown in the loan agreement
the date on which the borrower ceases to be a student
the date of any breach by the borrower of any of the terms or conditions upon which the loan was granted or
if the borrower becomes bankrupt, the date of bankruptcy.

It is your responsibility to meet your repayment schedule and make sure your loan is repaid.

Guarantor information

A guarantor will become personally responsible instead of, or as well as you, to pay the amount owed and any reasonable expense incurred by the credit provider in enforcing the guarantee. Guarantors are required to sign documentation in the presence of a suitable witness and provide supporting documentation, including payslips and ID.

A guarantor must not be a student or staff member of any Australian university and must be over 21, an Australian citizen or permanent resident of Australia, and financially secure.

Information for current loan holders

Payment options

Information about your payment options will be provided to you after your loan is approved and funded. These include bank transfer, phone and internet banking options, as well as paying in person at any Student Central.

Failing to repay your loan or altering your repayment schedule

While your loan is interest free, failure to repay it could result in an administrative encumbrance.

An administrative encumbrance means you will not have access to online material, will not be able to borrow from the library and may not be able to use other services provided by Deakin. It may also result in your academic transcript being withheld and your inability to graduate.

Once an encumbrance has been placed on your enrolment it will not be lifted until the loan has been paid or until suitable arrangements for payment have been agreed to.

It’s imperative that you avoid an encumbrance, so if you are finding it difficult to repay your loan or you would like to alter your payment schedule, please email finance-revenue@deakin.edu.au to discuss your options.