You have many flexible finance options so you don’t need to worry while you are studying. You may not even need to make a payment until you’re earning a full salary.
Calculate your saving by paying upfront.
Your flexible finance options include:
Commonwealth supported places
All undergraduate degrees, some postgraduate coursework degrees and some Wollongong College Australia university preparation courses offer Commonwealth supported places. This means the Australian Government contributes up to three-quarters of the total tuition fee of Commonwealth supported students. You will be required to pay a contribution to cover the remaining costs of the course; however, a HECS-HELP loan will help cover some or all of your student contribution fees.
Most postgraduate research degrees are covered by the Federal Government's Research Training Scheme and are exempt from tuition fees and student contributions.
Government assistance
The Federal Government provides financial assistance to eligible students through income-tested schemes such as Youth Allowance, ABSTUDY or Austudy.
Scholarships
UOW scholarships give students the opportunity to focus more effectively on their studies by providing some financial independence.
Scholarships include academic and sporting excellence rewards, research grants, degree-related work placements and assistance with accommodation.
HECS-HELP
HECS-HELP is a loan that helps eligible Commonwealth supported students with their contribution fees (it replaces the previous HECS deferment scheme). You won't have to make any repayments until your income reaches the minimum threshold. Repayments beyond what is required are regarded as 'voluntary repayments'.
HECS-HELP is available to Australian citizens and holders of a permanent humanitarian visa in a Commonwealth supported place. Your UOW offer of admission will clearly indicate whether you are eligible.
HECS-HELP repayment thresholds from 2008-09
| Income range | % rate to be applied to repayment |
|---|---|
| Below $41,595 | Nil |
| $41,595 – $46,333 | 4.0% |
| $46,334 – $51,070 | 4.5% |
| $51,071 – $53,754 | 5.0% |
| $53,755 – $57,782 | 5.5% |
| $57,783 – $62,579 | 6.0% |
| $62,580 – $65,873 | 6.5% |
| $65,874 – $72,492 | 7.0% |
| $72,493 – $77,247 | 7.5% |
| $77,248 and above | 8.0% |
HECS-HELP loan calculator
Calculate fees that are deferred to your HECS-HELP loan each semester.
