Frequently asked questions

The following are frequently asked questions about OS-HELP:

1. What are the amounts of the OS-HELP loans?
2. I have completed my OS-HELP loan application. What happens next?
3. I am eligible for an OS-HELP loan. What happens next?
4. When will my OS-HELP loan be paid?
5. The OS-HELP loan has been paid, but my circumstances have changed.
6. I am studying for 12 months overseas. Am I eligible for a second loan?
7. I have already had one OS-HELP loan. Am I eligible for a second loan?
8. I won't be able to sign the forms as I will already have left for overseas. Can someone sign on my behalf?

1. What are the amounts of the OS-HELP loans?

For 2012 you may borrow up to $5,824 which will be added to your existing HELP debt, indexed accordingly, and have the same repayment conditions as that debt. This is to support you for a six month study period overseas.

2. I have completed my OS-HELP loan application. What happens next?

Completed OS-HELP loan applications should be forwarded to:

Education Abroad Programs
Education Abroad
Deakin International
Deakin University
Burwood VIC 3125

Or

In-country/Study Tour Programs
Your Faculty In-Country/Study Tour co-ordinator
Contact your Faculty office for details

Once approved by the Education Abroad office or your Faculty, your application will be forwarded to Division of Student Administration - Student Finance. Eligibility for an OS-HELP loan will be assessed using the Deakin University OS-HELP Guidelines 2012 (60 KB).

3. I am eligible for an OS-HELP loan. What happens next?

An OS-HELP Letter of Offer will be sent to your nominated address along with an OS-HELP Debt Confirmation Form, OS-HELP Acceptance/Banking Form and an OS-HELP Statement of Terms and Conditions within one week of confirmation of your eligibility.

The completed OS-HELP Debt Confirmation Form and OS-HELP Acceptance/Banking Form should be returned within three months of the date on the offer letter to:

OS-HELP
Student Finance
Division of Student Administration
Deakin University
Locked Bag 20000
Geelong VIC 3220

4. When will my OS-HELP loan be paid?

Once we have received the completed OS-HELP Debt Confirmation Form and OS-HELP Acceptance/Banking Form, payment of your OS-HELP loan should be made by electronic funds transfer within ten working days to your nominated Australian bank account.

5. The OS-HELP loan has been paid, but my circumstances have changed.

Before being paid:
If you are offered an OS-HELP loan and your circumstances change and you no longer meet the eligibility criteria, or no longer require the OS-HELP loan, or it is determined that you have provided false or misleading information, Deakin University is obliged to withdraw the loan offer.

The OS-HELP loan has been approved:
If the loan has already been paid to you and your circumstances change and you are no longer eligible or able to study overseas, the debt has already been incurred and you will need to repay the debt through the Australian Taxation Office (ATO).

If it is discovered, or there is reason to believe that you provided false or misleading information as part of the application process and you have already incurred an OS-HELP debt, Deakin University must notify the Department of Industry, Innovation, Science, Research and Tertiary Education (DIISRTE) immediately of the suspected offence.

6. I am studying for 12 months overseas. Am I eligible for a second loan?

If you are studying overseas for two six month periods, you may apply for a second loan. The application can be completed at the time you apply for the first loan or in a later round. The second loan can only be paid when your study is confirmed and that you are still eligible to receive this second loan under the Deakin University OS-HELP Guidelines 2012 (60 KB) . A maximum of two loans, one for each six month period, is allowed per student.

7. I have already had one OS-HELP loan. Am I eligible for a second loan?

A maximum of two loans, one for each six month period, is allowed per student providing you are still eligible to receive a second loan under the Deakin University OS-HELP Guidelines 2012 (60 KB).

8. I won't be able to sign the forms as I will already have left for overseas. Can someone sign on my behalf?

Only a nominated Power of Attorney is able to sign on the OS-HELP Debt Confirmation Form and OS-HELP Acceptance/Banking Form on your behalf. A General Power of Attorney form must be forwarded to the following address to keep on your file:

OS-HELP
Student Finance
Division of Student Administration
Locked Bag 20000
Deakin University
Geelong VIC 3220

Please Note: Appointing a General Power of Attorney is a legal matter separate to the OS-HELP loan application. Deakin University encourages you to seek legal advice regarding appointing a General Power of Attorney.