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Whilst the loans are interest free, failure to repay carries a range of penalties including the withdrawal of library and IT privileges, withholding of your academic transcript and inability to graduate. Potential applicants are encouraged to explore all available options and other areas of support when considering applying for a student loan.
If you are unable to meet the repayment schedule you need to contact a Financial Assistnace Officer at any campus to discuss your repayment options. If you have not met the requirements of the loan repayment you may find that an administrative encumbrance has been placed on you file. This means that 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 University.
The encumbrance will not allow you to graduate or to receive your academic transcript.
Once an encumbrance has been placed on your file it will not be lifted until the loan has been paid or until suitable arrangements for payment have been agreed to. No one wants to have an encumbrance, so if you are finding it difficult to stick to the original repayment schedule, please contact a Financial Assistance Officer so that you can explore options in order to avoid having an encumbrance placed.
Indigenous students may wish to discuss their potential application with staff from the Institute of Koori Education prior to applying.