Financial aid​

Money matters while you study

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From scholarships to emergency grants, your studies are supported.

Discover the range of ways that UNSW, our generous donors and the Australian government can ease the pressure of financial matters and keep you focused on your studies instead of your bank balance. Whether it's rewarding your academic performance with a scholarship or helping you make ends meet in times of need, explore the financial support options available to you at UNSW.

Financial support for domestic students

If you're an Australian or New Zealand citizen, or if you hold an Australian permanent residency or permanent humanitarian visa, then you're a domestic student. If you’re from another nation, please refer to the information for international students.
  • Earn recognition for your potential

    We're proud to offer a range of scholarships that help you achieve your full potential. We don’t just reward academic performance; we also recognise motivation and achievement in the face of limited opportunities in life. To search and apply for awards you’re eligible for, visit UNSW Scholarships.
  • Study now, pay later

    Domestic students can usually study an undergraduate degree without paying upfront. After uni, when you start earning enough at work, the cost of your contribution to the degree gradually comes out of your pay. While this is a typical situation there are exceptions, so to learn more about what’s relevant to you and your degree, visit Commonwealth Support and HECS-HELP.
  • Get paid to study

    Centrelink offers financial support to help you focus on your studies, but there are certain criteria you have to meet to be eligible. While this support is mostly relevant for undergraduate students, Centrelink also recognise some master’s degrees. To find out if you could be eligible for Abstudy, Austudy, the Youth Allowance or the Pensioner Education Supplement, visit Centrelink payments. 
  • Assistance in times of need

    We don’t want to see anything get in the way of your education, but life happens. At some point during your studies, you might need a little help to cover costs. We offer student loans that charge no interest to pay back, and we offer support grants for essential living costs which you don’t have to pay back at all. Hopefully, you’ll never need either of these financial aids, but you can rest assured that they are there if you do. Find out about the eligibility criteria for UNSW Student loans and UNSW Student support grants.
  • No car? No worries.

    Get half-price travel on Sydney buses, light rail, trains, and ferries with a Concession Opal Card. For more information visit travel concessions with Opal card.
  • Making your degree accessible

    If you’re living with a disability, you could be eligible for support from the National Disability Insurance Scheme. The NDIS provides funding to access the support you need to participate in everyday activities at UNSW. Find more information about accessing the NDIS.
  • Get the skills to manage your bills

    Money on your mind? Get practical financial advice and money management skills that are relevant to being a uni student. You’ll be able to book appointments with student support advisers to discover how to get the most bang for your buck while you study. For more information check out financial management and support.
  • Not all degrees offer Commonwealth assistance   

    If you’re planning to study a postgraduate degree, it may not be subsidised as a Commonwealth Supported Place (CSP). In this case you’ll need to cover your own tuition fees. It’s wise to make sure you can afford the studies before you start but if you experience unexpected financial hardship, we can agree upon a fee payment plan with you. For more information, visit fee payment plan.

Financial support for international students

If you're not an Australian or New Zealand citizen, and if you don’t hold an Australian permanent residency or permanent humanitarian visa, then you're an international student.

If you’re a citizen of Denmark, India, Norway, Sweden, or the United Kingdom, we can help you access your loan program, and we can assist with documentation and enrolment certification.

If you’re a Canadian citizen, we can help you extend funding from your Canada or Provincial Student Loan for our programs. We can also assist with enrolment confirmation forms after you have applied to study with us.

If you’re a citizen of the United States of America, we can help you fund your UNSW degree with a US Federal Direct Loan, US Private Loan, or through the Veteran Affairs program. For detailed information view the Financial Aid for U.S. students below.

For more information, please email the UNSW Financial Aid office or call +61 29385 1078.
  • Earn recognition for your potential

    We're proud to offer a range of scholarships that help you achieve your full potential. We don’t just reward academic performance; we also recognise motivation and achievement in the face of limited opportunities in life. To search and apply for awards you’re eligible for, visit UNSW Scholarships.
  • Assistance in times of need

    We don’t want to see anything get in the way of your education, but life happens. At some point during your studies, you might need a little help to cover costs. We offer student loans that charge no interest to pay back, and we offer support grants for essential living costs which you don’t have to pay back at all. Hopefully, you’ll never need either of these financial aids, but you can rest assured that they are there if you do. Find out about the eligibility criteria for UNSW Student loans and UNSW Student support grants.
  • Get the skills to manage your bills

    Money on your mind? Get practical financial advice and money management skills that are relevant to being a uni student in Australia. You’ll be able to book appointments with student support advisers and discover how to make your dollar go further while you study. For more information visit financial management and support.
  • Unexpected financial hardship? We’ve got you.

    If you’re not on a scholarship, you’ll need cover your own tuition fees with us. It’s wise to make sure you can afford your studies before you start but if you experience unexpected financial hardship, we can agree upon a fee payment plan with you. For more information, visit fee payment plan.
  • Sydney buses, light rail, trains, and ferries

    If you’re coming to Australia on an Endeavour Scholarship, an Australian Awards Scholarship, or an International Postgraduate Research Scholarship, you’re eligible for half-price travel on Sydney public transport. For more information visit travel concessions with Opal card. 

    • The United States Department of Education has accredited UNSW to administer various loans to eligible students as part of the William D. Ford Federal Direct Loan Program. Loans under this program, known as ‘direct loans’, are low-interest loans to help students and their parents meet the costs of tertiary education. The US Department of Education, rather than a financial institution, provides the loan under US Title IV legislation.

      Other loans under the Title IV legislation include Pell Grants, Perkins Loans and Direct Stafford Loans. As these loans are not available to students studying outside the United States, UNSW cannot award aid under these programs. However, UNSW can arrange for loan repayments to be deferred while you attend UNSW full-time or at least half-time.

      The US Department of Education federal school code for UNSW is G08670

      • To be eligible for financial aid as a U.S. student you must satisfy the following conditions:

        • Be a citizen, national permanent resident or eligible non-citizen of the United States of America
        • Be studying in Australia
        • Be enrolled at least half-time in an on campus full degree program (Bachelor, Master or PhD)
        • Not be enrolled in any online or distance course
        • Not be enrolled in a Graduate Diploma or Graduate Certificate program
        • Not be enrolled in the MBBS or BMed/MD programs
        • Not be completing research based in the United States (as Masters and PhD students)
        • Meet the Satisfactory Academic Progress criteria as outlined in our SAP policy (see below)
        • Complete your program within 150% of the published credits
        • Never have been convicted of an offence in relation to the sale or possession of a controlled substance
        • Not be in default on a Stafford, PLUS, SLS or Consolidation Loan
        • Comply with requests for documentation if selected for verification by the U.S. Department of Education
        • For PLUS loans, you (postgraduate students) or your parents (undergraduate dependent students) must also pass a credit check
        • Submit all documentation required by UNSW Sydney to verify your eligibility and determine your financial need
        • No more than 25% of the degree can be completed in another country, including Study Abroad Programs, Exchange Programs, Study Trips, work experience or remote locations.
        • Not be enrolled in a University Foundation Program, Graduate Certificate, or Diploma Program (under Not be completing research based in the US etc)

        • Subsidized Stafford Loans are awarded to undergraduate students who demonstrate financial need. The US Federal Government pays your interest while you are enrolled at least half-time, during the grace period and for any periods of deferment. Although you are not required to make payments while you are studying, you start repaying your loan six months after you graduate, leave school or drop below half-time enrolment. Stafford loans generally have lower interest rates and better repayment terms than PLUS loans.

        • Unsubsidized Stafford Loans are available to all eligible students regardless of income. Unlike the subsidized Stafford Loan, you are responsible for paying interest on the loan. Interest begins accruing from the time of the first disbursement. You have the option of deferring your interest and principal payments until you enter the repayment period (at which point this interest is ‘capitalized’). Alternatively, you can opt to make a minimum repayment of $50 per month or the unpaid balance including interest, whichever is less. This will save you a lot of money in the long run. Stafford loans generally have lower interest rates and better repayment terms than PLUS loans.

        • Parent PLUS Loans for undergraduate dependent students are federally guaranteed loans that allow parents to borrow funds to pay for the educational expenses of a dependent student. The program requires the borrower to pass a credit check. Interest begins to accrue when funds are disbursed and repayment begins within 60 days after the loan has been fully disbursed.

          For students who are enrolled in undergraduate degrees, please note that once you turn 24 you will be an independent student and will no longer qualify for a Parent PLUS loan. Your funding will be reduced to the Subsidized and Unsubsidized loans, and you may have to consider private loan options to fund the remainder of your degree.

        • PLUS Loans for postgraduate students are federally guaranteed loans that allow graduates to borrow funds to pay for educational expenses on their own. They may undertake the loan with an eligible co-signer. The program requires the borrower to pass a credit check. Before applying for this loan the borrower must apply for the maximum annual Stafford loan amount and UNSW must determine the borrower’s eligibility for this amount.

      • Stafford and PLUS loans are available for both undergraduate and postgraduate studies.

        The main advantages of Stafford loans are that they have lower interest rates and better repayment terms. However, because there are annual loan limits, many students apply for both a Stafford and a PLUS loan in order to meet the costs of their education. The below amounts are denominated in USD.
        • Year of study Annual subsidized loan limit Annual total combined loan limit Aggregate subsidized loan limit Aggregate combined loan limit (Sub & Unsub)
          1st year $3,500 $5,500 $23,000 $31,000
          2nd year $4,500 $6,500 $23,000 $31,000
          3rd year & above $5,500
          $7,500          		 $23,000 $31,000
        • Year of study Annual subsidized loan limit Annual total combined loan limit Aggregate subsidized loan limit Aggregate combined loan limit (Sub & Unsub)
          1st year $3,500 $9,500 $23,000 $57,000
          2nd year $4,500 $10,500 $23,000 $57,000
          3rd year & above $5,500 $12,500 $23,000 $57,000
        • Year of study Annual subsidised loan limit Annual total combined loan limit Aggregate subsidized loan limit Aggregate combined loan limit (Sub & Unsub)
          All years 0 $20,500 $65,500 $138,500

        Do not exceed the loan limits!

        Over-borrowing or exceeding your annual or aggregate loan limit will prevent you from receiving funds under any of the Title IV student aid programs.

        In order to regain eligibility for financial aid, you must make satisfactory arrangements with your loan servicer and provide evidence to the UNSW Financial Aid Office. This may include:

        • Confirmation from your loan servicer that you have paid the excess amount
        • A loan summary sheet from Direct Loans confirming that you have consolidated all loans that were in excess

        To review your current loan amounts and determine your loan servicer, please log into the National Student Loan Data System (NSLDS) by visiting www.nslds.ed.gov

        • Your application for financial aid cannot be assessed until you have applied to study at UNSW. Your application for financial aid will be kept on file until you receive your letter of offer to study at UNSW. Apply online now.

        • Submit all financial aid documents to the UNSW Financial Aid Office at financialaid@unsw.edu.au.

          Your eligibility cannot be assessed until all of the following documents have been received:

          • UNSW Sydney U.S. Financial Aid Application Form
          • Student Aid Report (FAFSA). The UNSW FAFSA ID is G08670
          • Master Promissory Note (MPN)
          • Entrance Counselling

          In order to apply for a PLUS Loan, parents of dependent undergraduate students or postgraduate students should go to www.studentloans.gov and complete the following:

          1. Sign in using your FSA Student PIN
          2. Complete a Direct PLUS Loan Request
          3. Sign a Master Promissory Note (MPN) for the Direct PLUS Loan
          4. Complete the credit check

        • A UNSW Financial Aid Officer will assess your application and calculate your Cost of Attendance (see below for an explanation), which will need to be reviewed by the Director of Financial Aid. Once approved, your Cost of Attendance will be sent to you along with the Award Letter. These documents indicate your estimated cost of attendance and the maximum amount of US financial aid you are eligible to receive during the first year of your degree.

          Please allow up to two weeks to receive your financial aid package.

        • Review the information in your Award Letter and Cost of Attendance documents, sign the Award Letter and return it by email to the UNSW Financial Aid Office stating the exact amount that you would like to borrow for each type of loan. We advise that you keep your borrowing to a minimum.

        • On receipt of your signed Award Letter, a UNSW Financial Aid Officer will originate your loans in preparation for the upcoming semester. Under U.S. Federal Policy, UNSW does not provide you with the funds until classes commence, where applicable. The balance, after paying your tuition fees, is refunded to you for living expenses in your nominated bank account in Australia. In general, you receive two equal disbursements coinciding with the beginning of each semester. Please note that loan funds are subject to a 30-day disbursement delay for first-year, first-time borrowers.

          We recommend you ensure you have sufficient funds to support yourself during the first 4-6 weeks in Sydney, including initial costs for accommodation.

      • The Cost of Attendance (CoA) is an estimate of your education expenses for the period you are enrolled at UNSW. The compulsory components of the CoA are the same for all U.S. Stafford programs as specified under United States law. The CoA will specify the total amount you may borrow through the Direct Loan Program minus any other aid you may be receiving for that award period.

        Your Estimated Financial Assistance (EFA; e.g. sponsorships or scholarships) is deducted from the CoA to establish the amount you can borrow. In the case of dependent undergraduate students, the Expected Family Contribution (EFC; reported on the top right corner of your SAR) as well as your EFA are deducted from your CoA to determine your financial need and eligibility for a subsidized loan.

        Your CoA represents the maximum amount to which you are entitled under a Direct Loan or Private Loan. To accept your offer at UNSW you must pay a compulsory tuition fee deposit. This deposit has to be paid up front and before your loans are issued. Once you are enrolled, the deposit will be applied to your first term’s tuition fees.

        The below allowable costs calculated in your annual Cost of Attendance are reviewed and updated annually by the UNSW Financial Aid Office. They are denominated in AUD.

        Tuition fees Dependent on your program of study (Generally based on 3 terms of full time study, i.e. 8 subjects or 48 units of credit)* Please visit Indicative Fees to find out your estimated tuition fee
        Student Services and Amenities Fee See current fee rate Per year
        Books and supplies $1,200 Per year
        Living costs $35,260 Per year - including room, board and utilities
        Return airfare $2,000 Per year
        Laptop $1,500 One time allowance awarded on the first application for aid at UNSW
        Transport $1920 Per year
        OSHC - Overseas Student Health Cover - health insurance compulsory for student visa holders Dependent on the length of your visa – $50/month as for Medibank 2019 rates One time allowance awarded on the first application for aid at UNSW.
        Origination fee As published on the United States Student Aid website. Per year

        Please note that the specified cost of attendance pertains exclusively to students applying for Financial Aid from 2024 onwards. Any existing students are ineligible unless they have successfully completed their ongoing direct loan and subsequently need to reapply. In such cases, the cost of attendance will be calculated based on the updated rates applicable in 2024.

        *The above amounts are all in Australian Dollars and were converted into US dollars on the day the Cost of Attendance was prepared.

        *If you intend to complete 8 subjects (54 Units of Credit) in the year, please advise the US Financial Aid team and provide your enrolment plan, prior to your Cost of Attendance being calculated

        Students with dependents may apply for a Dependent Care Allowance to be included in the CoA by submitting supporting documentation. This allowance is to enable the student to attend classes. The amount of the allowance is based on the number and age of dependents and should not exceed a reasonable cost amount in the community for the kind of care provided.

        If you are a permanent resident, or if you hold dual U.S./Australian or U.S./New Zealand citizenship, you must declare any financial support received from the Australian or New Zealand Government. Your CoA will be modified according to your student status and access to other support based on your country of origin.

      • Upon disbursement, UNSW will automatically allocate funds against any outstanding balances on your Student Tuition account at UNSW. Following this, UNSW will allocate any remaining funds into your Australian Bank account for your living expenses.

        Disbursements are made in three equal payments at the beginning of each term.

        This means that if you are undertaking 8 subjects (48 Units of Credit) throughout the year, you will receive a surplus of money in the term in which you are only taking 2 subjects. You will need to make sure you allocate your loans appropriately to cover your associated costs throughout the year.

        You will also receive a surplus of funds in the very first term at UNSW. This is because your first term’s tuition fees are reduced by the deposit you paid upon accepting your offer.

        Please note that you must be enrolled in at least 4 subjects across the academic year for us to begin processing your loan.

        • Students receiving U.S. federal funds are required to be enrolled at least half time across the academic year. UNSW Sydney is required to report on your enrolment status every 55 days. If you are enrolled in less than half time across the academic year, you will automatically be required to begin making repayments to your loan, following a six month grace period. You will also be ineligible to receive funding for the following term until you meet the minimum enrolment requirements.

        • UNSW Sydney is required under U.S. Federal law (34CFR 668.16) to define and enforce the required standards of Satisfactory Academic Progress (SAP) for students who wish to access U.S. federal funds. The guidelines have been established to encourage students to progress and successfully complete the academic program for which aid is received. The below SAP requirements apply to any Undergraduate and Postgraduate coursework degree programs and Higher Degree Research students accessing Title IV loan programs.

          If you receive loans via the William D Ford Direct Loans Program, you will be evaluated at the end of each study period (Term 1, 2 and 3). If you do not meet the below requirements, you will be placed on Financial Aid Warning status. If you do not meet the SAP requirements for a subsequent term you will lose your eligibility for federal student aid unless you successfully appeal.

          This two-part evaluation process will consider your progress under the following criteria:

          • Coursework Students

            Students who are undertaking undergraduate or postgraduate studies by coursework must maintain a cumulative Weighted Average Mark (WAM) of 55% or higher in order to be eligible for Federal Aid at UNSW. Students performing below the required cumulative 55% WAM will receive a Financial Aid Warning letter by email stating they must achieve a cumulative term WAM of 55% or higher in the next term. Students can only have a Warning Status for one term. If the student fails to achieve a cumulative WAM of 55% or higher for a second time, (e.g. achieve a cumulative WAM under 55% for two consecutive terms) they will be ineligible for further funding until their cumulative WAM is 55% or higher. Students who become ineligible for funding may appeal and if successful, will be placed on Financial Aid Probation.

            Students should have an overall WAM of 55% at the end of each year, including programs longer than 2 years.

            Please refer to Section 3: Term and cumulative Weighted Average Mark (WAM) of the UNSW Academic Progression Procedure.

            Table 1: Nominal value for WAM calculations for grades
            Grade only result Nominal value
            HD - High Distinction 90
            DN - Distinction 80
            CR - Credit 70
            PS - Pass 55
            FL - Fail 25
            AF - Absent Fail 0

             

            Higher Degree Research students

            Students undertaking postgraduate studies by research must achieve “Satisfactory” progress as determined by the Graduate Research School and their supervisors. Students studying in this mode will need to achieve the 'good standing' criteria awarded by the Graduate Research School, as outlined in the Research Progress Review and Confirmation of Research Candidatures Procedure Policy.

          • U.S. Federal Law also requires that all students complete their degree at a specified pace. This is the rate at which student’s progress through their programs of study. Pace is determined by dividing the cumulative number of credits the student has earned by the cumulative number of credits the student has attempted. The rate Credit hour completion is the quantitative measure of SAP, meaning that the student must complete a certain percentage of their courses to maintain eligibility for Federal Student Aid.

            • Each academic program within our university system has a defined number of credit hours required for completion. (Units of Credit – UoC)
            • A student must complete their program within 150% of the published credits.

            Examples:

            Undergraduate Students: 

            • Three-year degree (144 UoC) - If your program requirements are 144 Units of Credit, you must satisfy all requirements of your program without having to attempt more than 216 credits. (144UoC x 150% = 216 UoC).
            • Four-year degree (192 UoC) – if your program requirements are 192 Units of Credit, you must satisfy all requirements of your program without having to attempt more than 288 credits. (192UoC x 150% = 288 UoC).
            • To meet the 150% time-frame conditions, coursework students must meet a minimum study pace percentage of 67%.

            Postgraduate Students: 

            • One-year degree (48 UoC) - if your program requirements are 48 Units of Credit, you must satisfy all requirements of your program without having to attempt more than 72 credits. (48UoC x 150% = 72UoC).
            • Two-year degree (96 UoC) - if your program requirements are 96 Units of Credit, you must satisfy all requirements of your program without having to attempt more than 144 credits. (96UoC x 150% = 144 UoC).
            • Three-year degree - 144 UoC) - If your program requirements are 144 Units of Credit, you must satisfy all requirements of your program without having to attempt more than 216 credits. (144UoC x 150% = 216 UoC).
            • To meet the 150% time-frame conditions, coursework students must meet a minimum study pace percentage of 67%.

            Courses with a qualitative final grade (WAM) equal to or above 50% will be counted towards credits completed. Courses with a qualitative final grade (WAM)equal to or below 49% will not be counted as credits completed but will be used to determine credits attempted.

            In order to receive U.S. Federal funds, students must meet minimum standards for the above (Qualitative and Quantitative measures) while adhering to UNSW’s academic progress rules and ESOS legislation.

            Non-Credit Courses

            • Non-credit courses will not be counted in assessing full-time hours. A student is required to achieve a grade on any deferred or supplementary assessment within 6 months of completing a class.

            Incompletes

            • Incomplete courses will be counted in assessing quantitative and qualitative progression.

            Withdrawals of Credit Units – Academic Withdrawal and Permitted Withdrawal

            • Students can withdraw from units/subject without academic and financial penalty up until the census date of each term. A student who withdraws from a unit after census date will receive an Academic Withdrawal grade (AW) or a Permitted Withdrawal grade (PW). This means the student discontinued the course after the deadline to drop without academic penalty, but before the last day of the teaching period. The AW and PW grade is not included in the calculation of the students WAM. However, it is counted as a failed course when calculating academic standing. The AW and PW grade becomes part of the student’s official academic record and is included on their academic transcript. The AW and PW grade will be calculated in the quantitative SAP for attempted credits.

            Repetitions of Credit Units

            • Students who repeat units due to an academic withdrawal or fail grade will have both units (the failed and the repeated units) counted as part of the quantitative SAP requirement of 150%. Only the fail grade will be included in the qualitative WAM requirement.

            Transfer of Credits

            • Credit transfers for students who transfer from another institution are governed by the UNSW degree program rules and the rules covering credit. More information can be found here. Any approved credits granted towards the transferred student’s degree will be considered as completed credit points for the evaluations of the student’s quantitative and qualitative SAP requirements. For all students at UNSW who undertake a new program, any credits granted for the new program of study will contribute to the cumulative WAM of the new program and will also be used to evaluate the quantitative SAP requirement of 150%.
            • Student Assessment results are released at the end of every term, the result dates can be found on the UNSW website: https://student.unsw.edu.au/results. Students who will receive a Warning Status, or who become ineligible for aid will be notified via email within five working days of the results being released.
            • Students who do not meet the SAP requirements while on Warning Status and become ineligible for Federal Student Aid may appeal this decision if one or more of the following circumstances exist:
              • Death of an immediate family member (parent, spouse, sibling, dependent child etc.)
              • The extended illness of the student - extended illness as defined as a documented chronic or recurring medical or emotional illness that causes the student to be absent from class for at least 15 days or more
              • The extended illness of an immediate family member that places hardship on the student
              • Immediate family members include parent, spouse, sibling and dependant
              • Mitigating circumstances as determined by the Financial Aid appeals committee

            The student must submit the Financial Aid Satisfactory Academic Performance Appeal Form, along with the relevant supporting documentation via email to the Financial Aid Office. Students seeking to re-establish financial aid eligibility remain ineligible to receive financial aid assistance until the appeal process is complete and a decision has been made by the Financial Aid Office. The Financial Aid Office reviews all SAP appeals and all decisions are final.

            Appeals for reinstatement of aid:

            • Are the responsibility of the student
            • Should specifically reflect extenuating circumstances beyond the control of the student,
            • Should provide resolution to circumstances,
            • Should include documentation to support the existence of extenuating circumstances described and evidence that the circumstances have been resolved,
            • Students are required to submit a written academic plan along with their financial aid appeal.
            • Incomplete appeals, including appeals without documentation, academic plans, or which do not detail the above information will be automatically denied
            • All appeals must be received within 14 days of receipt of the Notice of Suspension.
            • All appeals will be reviewed and responded to within 14 days of receipt.

            Students who unsuccessfully appeal will be ineligible for further funding until they meet the SAP requirements.

            Students who successfully appeal will be placed on probation for the next study term with the following conditions:

            • The student must meet the SAP requirements (quantitative and qualitative) by the end of the next study term.
            • Students who have an approved SAP Appeal may be placed on an SAP Academic Plan which they will be required to follow to be eligible to receive funding.

            The student’s SAP Academic Plan (if applicable) and SAP status will both be reviewed at the end of the term. Students who do not meet the SAP requirements (quantitative and qualitative or who do not meet the criteria of their SAP Academic Plan, will be ineligible to receive funding until they once again meet the SAP requirements or submit another successful appeal.

        • It is important to note that The University does not have a Leave of Absence policy as defined by the US Department of Education for purposes of awarding and receiving Title IV financial aid. While students can request a leave of absence from The University as outlined by the University’s Program Leave policy in the Academic Progression Procedure, these are considered to be withdrawals for Title IV aid purposes and the return of funds requirement applies, as outlined in The University’s Return to Title IV Funds Policy.

          International students studying in Australia on student visas are not normally eligible for a leave of absence, other than in compassionate or compelling circumstances. In these instances, students should contact the US Financial Aid Office and the International Student Experience Unit, regarding requirements for leave of absences longer than one week.

        • You must advise both your Faculty Student Centre and the UNSW Financial Aid Officer as soon as you decide to withdraw from your studies. Upon withdrawal you will need to complete Exit Counselling (this must be completed within one week of withdrawal) and prepare to commence your loan repayments.

          If you withdraw from your program, drop out, discontinue or go on an unapproved leave of absence in the first 60% of an award payment period (term), both you and the University will have to repay a portion of your Federal Aid. The amount that must be repaid is worked out pro-rata based on your withdrawal date. The requirements for the treatment of Direct Loan funds when a student withdraws are on the US Federal Student Aid website.

          How the withdrawal date is determined:

          • Official notification provided
            If you wish to withdraw completely from your program, you should first discuss your decision with a Student Advisor within your faculty and with your Financial Aid Officer so that you understand the University's refund policy and the implications for your visa upon withdrawing. If you decide to proceed with your withdrawal, the date you informed the University in writing will be your withdrawal date for the purpose of calculating loan refunds
          • Official notification not provided
            If you do not provide official notification of your withdrawal, the University must make a decision on the withdrawal date to calculate the return of Direct Loan funds. In the absence of notification from the student, the last date the student attended is deemed to be the withdrawal date (the last date of the previously confirmed enrolment period). If the student withdraws between the end of a term and the beginning of the following term, the withdrawal date used will be the last day of the last term completed. If a student is submitting an appeal to have academic standing revised, but the appeal has not been granted by the beginning of the following enrolment term, the student will be marked as withdrawn as of the last day of the last term completed. If the last date of attendance cannot be determined, the University will assume a 50% attendance.
            UNSW Sydney must determine the withdrawal date for a student who provides no notification of withdrawal no later than 30 days from the period of enrolment or the earlier of the payment period.

          Please note, the University's refund policy is independent of the regulations covering the Return of Title IV Funds. On withdrawal, your eligibility for refunds or liability for tuition and other payments to UNSW is determined by the University's refund policy.

        • Students attending UNSW have different educational experiences and the debt levels of each student reflects individual choices and knowledge about loan program options. The UNSW Financial Aid Office is committed to ensuring that students leave our University with the lowest amount of debt possible and we will actively work with you to ensure this.

          Making repayments while you are studying at UNSW can reduce the amount of interest you pay over the life of your loans. Please see the repayment estimator from StudentLoans.gov for more information.

          As soon as you leave university you have a 6 month grace period before you must commence monthly principal and interest repayments on your loan. Please note that the maximum 6 month grace period may be reduced should you take a leave of absence.

          As the grace period does not apply to PLUS loans, you may wish to consider consolidating your PLUS loan with your Stafford loan. Please contact  Federal Student Aid for further information about consolidation.

          Before repayment starts, you will be provided with repayment options and a Repayment Schedule from your lender or servicer for each type of loan.

          If you do not receive these schedules towards the end of your grace period, contact your lender because repayment begins whether or not you are aware of it. Also, all of the borrower benefits will only apply if you make your first payment on time.

          • Students must complete online Direct Loan exit counselling before leaving university. Counselling will include information on your obligations, rights and options under the terms of your loan. The session will cover repayment options, deferments and other important information you may need during your repayment term.

            The consequences of defaulting on your loans can be extremely serious, so it is essential that you are aware of your obligations and the options that you have, should you have trouble repaying your loans.

          • Failure to make your monthly payment within 30 days will result in you being considered a delinquent borrower and may result in your delinquency being reported to a credit bureau. This could damage your credit rating. It is essential that you contact your lender immediately if you are unable to make a monthly payment to avoid default.

            The consequences of delinquency could include:

            • being reported to credit bureaus affecting your credit history
            • being classified as a defaulter after several months

            The consequences of defaulting could include:

            • the lender can garnish your wages and tax returns
            • the services will sue and you will be responsible for all costs
            • collection agencies take over and add an additional 15-18% interest to the loan
            • student loans cannot be discharged in bankruptcy
            • in a number of U.S. states, your driver's licence may be revoked

            The National Student Loan Data System website provides data on all your Federal student loans to assist you keep track of the amounts borrowed.

          • One advantage of borrowing through the Federal Loan Program is the option of postponing repayment for a period of time under certain conditions. However, it is important to note how interest must be paid or not paid on various loans. You must continue making repayments until you have been notified that the deferment is granted. Keep copies of all forms and correspondence related to your deferment. There are several types of deferral options available and the common types and links to deferment forms can be found here.

            If you find yourself in temporary financial difficulty and no deferment option applies to you, you can request forbearance from your lender or servicer. Forbearance is granted at the lender’s discretion and allows you to have months added to the term of your loan, to temporarily reduce the amount of your monthly payment or temporarily suspend monthly payments.

            There are several forbearance options available. The two most common types of forbearance are:

            • Economic Hardship Forbearance: If your student loan payments exceed 20% of your total monthly income you can apply for this type of forbearance. It is given in 12 month increments for a maximum of three years
            • Administrative Forbearance: May be granted by your lender if you are delinquent on payments prior to entering a period of deferment

            Note that interest continues to accrue on your loan during forbearance. That interest must be repaid, which can result in higher monthly payments once the forbearance has ended. The U.S. Federal Government does not pay the interest on Subsidized Stafford loans while your loans are in forbearance.

        • The following Consumer Disclosures are available to UNSW US Financial Aid Students as required by the United States Federal Government.

          For further information please contact the Financial Aid Office at:

          UNSW Sydney
          NSW 2052 Australia
          T: +61 29385 1078
          E: financialaid@unsw.edu.au

    • Private education loans are available from non-government lenders and approval is based on credit history. It is recommended that you apply with a co-signer who is a U.S. citizen.

      U.S. students can use private education loans to borrow the difference between the maximum Cost of Attendance (COA) and any Federal (Direct) Loan.

      Private education loans are also available to those students enrolled in the MBBS program and all non-degree programs such as certificate, graduate and postgraduate diploma programs which are ineligible for Federal funding.

      They can also be used when a student is otherwise ineligible for Federal loans, e.g. when they are enrolled less than half-time or studying on exchange with an institution which is ineligible for Federal funding.

      Presently Sallie Mae Student Loans is the only lender offering private education loans to students studying outside of the US. Please refer to their website for specific details about eligibility, how to apply, loan amounts and other terms and conditions.

      UNSW strongly recommends that students first apply for Federal loans (where eligible) and then apply for additional funds through a private education loan, if required. Federal loans are more favourable due to the generally lower interest rates and more flexible repayment options.

      For further information please contact the Financial Aid Office.

    • UNSW is an approved institution for the administration of U.S. Department of Veterans Affairs funding under the Montgomery GI Bill and Post 9/11 GI Bill program.

      The U.S. Department of Veterans Affairs will pay eligible student education benefits for pursuit of an approved program of study.

      Due to the large volume of course approvals with the U.S. Department of Veterans Affairs, applications for course approval can only be requested if the student can provide a Certificate of Eligibility from Veterans Affairs and is enrolled at UNSW.

      You can check whether your degree is approved here by entering the following details:

      • Institution: University of New South Wales
      • Program Type: Institution of Higher Learning
      • Country: Australia

      If your course is not yet approved, contact the Financial Aid Office at financialaid@unsw.edu.au so that course approval can be requested.

      Eligibility for VA benefits can be extended to veterans, members of the Selected Reserves or National Guard; and children or spouses of service-connected deceased or totally and permanently disabled veterans. Each U.S. Department of Veteran Affairs (DVA) education program has distinct eligibility requirements under specific chapters of Title 10 and 38, U.S. Code (USC). All students who feel they may be eligible for education benefits should submit an application. Even if a student appears to be ineligible, the DVA will review the application and officially grant or deny benefits. 

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