Government Financial Assistance

Bond assistance

The Department of Human Services, Office of Housing, provides a Bond Loan Scheme for people who are having difficulties paying the bond (security deposit) required by most landlords.
Information on eligibility and the application processes can be obtained from the Department of Humans Services, private renter assistance site.

Centrelink (including Youth Allowance)

The Government provides financial assistance through Centrelink. For information regarding assistance visit Centrelink or phone 13 2490.

If you receive Centrelink benefits and you experience financial difficulty while studying, you may qualify for an advance payment on your Centrelink payments. Information regarding eligibility and how to access this service is available directly from Centrelink.

Youth Allowance - age of independence lowered

Changes to Youth Allowance: Student income supports more independent students
From 1 January 2011 thousands of students seeking Youth Allowance and ABSTUDY support are set to benefit with the lowering of the qualifying age of independence from 24 to 23 years of age.

In 2011, students who apply for Youth Allowance will be eligible for the independent rate if you are 23 years of age or over. Being independent for Youth Allowance or ABSTUDY means that you are not subject to the Parental Income Test. That means your parent's income will not be taken into account when your application for payment is assessed.

The Minister for Tertiary Education, Senator Chris Evans, said the change is part of a phased approach to reduce the age of independence to 22 by 2012, in recognition of the increasing self-sufficiency of young people as they mature, in line with international and community standards.

'The Government reduced the age of independence to 24 years on 1 April 2010 and already more than 2400 students have gained access to Youth Allowance or ABSTUDY for the first time or have received increased student payments,' Senator Evans said.

'The Government expects 7000 additional students to benefit from the 1 January 2011 change.'

The Bradley Review of Australian Higher Education found that reducing the age of independence to 22 years would achieve significant benefits for students, and importantly, encourage young people to engage in tertiary studies to increase their qualifications and improve their career prospects.

The phased approach allows the Government to achieve its objective of lowering the age of independence to 22 years in a fiscally responsible manner while giving more people a chance to participate in higher education.

The Australian Government's comprehensive reforms to student income support, which commenced on 1 April 2010, support the Government's target that by 2025, 40 per cent of 25 to 34-year-olds will hold a bachelor degree.

Other key elements of the reforms to student income support include:

  • All university students who receive student payments are entitled to receive a start up scholarship every year. In 2011, the scholarship is valued at $2194.
  • Students who live in outer regional, remote and very remote areas, who have to move away from home to study and whose parents earn less than $150,000 a year will be eligible to apply in 2011 under the previous independence test criteria.
  • The parental income test has been raised so that families with two children studying away from home can earn more than $146,000 before they lose their allowance.
  • Students who choose to move to study may be eligible for an additional relocation scholarship. In 2011, this is worth $4124 in the first year away from home and $1031 each subsequent year.
  • From 1 July 2012, students will be able to earn $400 a fortnight (up from $236) without having their payments reduced.

This information is an overview of the changes being made to student payments. For more information about how the new rules will affect you, please visit Centrelink or the Department of Education, Employment and Workplace Relations.

Youth Allowance - tax deduction allowed by ATO

The ATO's new ruling means students can claim a $550 deduction if they paid tax, declared their allowance as income and did not claim a deduction for study expenses.

Read the full article on the ABC website.

Find out more from the ATO's helpsheet.

Health Care Card

As commencing students leaving school and establishing independence from parents, one of the things you should be looking at is the cost of health services. As a student you may be eligible for a Health Care Card. The cards are primarily designed to reduce the costs of medicines but they may also be available for State Government and private services.

Full-time students receiving Youth Allowance or Austudy and low income earners may be eligible for a Health Care Card if your income is below a threshold. For more information please call Centrelink on 13 2490 or visit the Centrelink website.

Financial assistance and schemes for students with a disability

There are a range of benefits and payments available to students generally, and in addition, specific schemes to assist students with disabilities.  There are a number of scholarships that are available to students.  Centrelink also provide interest free advance payments to Youth Allowance and Austudy beneficiaries, for information contact 13 2490.

Deakin University acknowledges the traditional land owners of present campus sites.

15th June 2011