Student Loan

What are loans available for?

Student loans are available to Undergraduate and Postgraduate Coursework students to cover the costs of unforeseen circumstances that directly impact on their studies at UNSW. Students who wish to purchase a computer may also apply for a student loan.

What are loans NOT available for?

• Tuition fees
• Other University debts
• Field trip/Exchange program costs
• General living expenses
• Car loans and repairs
• Personal debts (credit cards, mobile phone bills etc.)

What is the maximum student loan I can get?

Student loans are usually available up to $1500. However, requests for up to a maximum of $4000 may be considered in exceptional circumstances.

Who is eligible for a loan?

Applications for loans will only be considered from students who:

• are currently enrolled;
• have completed at least one semester of study;
• are in good academic standing;
• do not have any outstanding debts owed to UNSW, and
• provide documentary evidence in support of their application for loans of more than $200.

How do I apply?

You must complete the Student Loan Application Form (pdf, click here) and submit it to Student Central. You must provide documentary evidence in support of any claim made on the application form for loans of greater than $200. You may also need to supply a Guarantor, who will be responsible for paying back your loan if you default on payments.

Documentary evidence includes:

• Copies of bank statements for the three months preceding the loan application;
• Pay slips for the month preceding the loan application;
• Invoices (where relevant);
• Quotes (where relevant, eg. when applying for a loan to purchase a computer).

How is the loan paid to me?

Loans are normally paid into the bank account nominated on the loan application form, and may take up to five working days to be credited. In certain circumstances, it is possible for a cheque to be issued and made payable to the organisation to which the student has a debt. In emergency situations and where the loan is for $200 or less, it may be possible to pay the loan in cash.

How are repayments determined?

• Loans of up to $300 must normally be repaid in full within two months
• Loans of up to $500 must normally be repaid in full within six months
• Loans of up to $1500 must normally be repaid in full within twelve months
• Repayments for loans in excess of $1500 are negotiated at the time of interview

What happens if I do not repay my loan?

If you fail to repay your loan, the University will terminate your loan contract and may take legal proceedings to recover the outstanding balance of the loan. In addition, you will have a block placed on your student record. This block will prevent:

• Future enrolment;
• Access to examination results;
• Access to library services;
• Access to buildings and computer labs;
• Access to Web CT;
• Issuing of transcripts;
• Graduation.

How do I make my repayments?

Payments can be made at the Cashier (either at Kensington Campus or at COFA), by cash, cheque, credit card or EFTPOS.

What happens if I discontinue my studies before I have repaid the loan?

If you discontinue your studies, the balance of the loan becomes payable immediately.

How will I be notified if my loan is successful/unsuccessful?

You will be notified by email to your student email account of the outcome of your application.

How do I appeal if I am refused a loan?

If you wish to appeal against the decision on your loan application, you should, in the first instance, send a letter of appeal to the Head, Student Central, Lower Ground Floor, Chancellery, UNSW, NSW 2052.

Other Frequently Asked Questions

1. Can part-time students apply for a student loan? Yes
   
   
2. Can International Students apply for a loan? Student loans are not normally granted to international students. However, in certain circumstances, small loans may be available. For further details, please contact Student Central.
   
   
3. Is interest charged on the loan? No
   
   
4. What happens if my circumstances change again, and I cannot make the repayments? You must contact Student Central as soon as you realise you are in financial difficulty and complete this Student Loan Extension form (pdf, click here).