Increased financial support for students
28 January 2009
Some students will be able to get more financial assistance this year following changes to the Student Allowance and Student Loan schemes.
From 1 January, Student Allowance income thresholds increased, meaning more students are eligible for Student Allowance. Students whose allowance is abated because of their parents’ income are also likely to receive more money.
Parental income thresholds have increased:
- from $71,280.88 to approximately $75,855.32 – if the student lives in the parental home
- from $77,663.36 to approximately $82,237.80 – if the student lives away from the parental home.
Another change sees the age for which students’ parental income is tested drop by a year, from 16-24 years to 16-23 years.
The maximum amount students can borrow towards living costs from the Student Loan scheme has also increased, from $150 to $155 per week. This maximum will be adjusted annually by the Consumer Price Index process each April.
“It is important that students are aware of these changes so that they can make informed decisions about their study,” says StudyLink General Manager, Wendy Beban..
Wendy Beban says students should be applying now if they want to be sure about getting assistance in time for this year’s courses.
More information about thresholds, allowances, loans, scholarships and other financial support is available on the StudyLink website.
