Returning to study in 2012? there are changes you need to know about.
If you are applying for your 2012 student finance - You need to know your results
If you've received a Student Loan for study ending in 2009 or later, and completed 1.6 EFTS of study since then you'll need to know whether you have passed at least half of all this study before you apply for your new loan.
If you're not sure, we recommend that you wait until you get your study results this year, and apply online as soon as you know.
You can change your declaration later by letting us know in writing.
Student Loan changes for part-time full-year students
For study starting on or after 1 January 2012, part-time full-year students are no longer entitled to borrow the course-related costs component of the Student Loan.
Currently students who were studying part-time for 32 weeks or more have remained eligible for assistance with their course-related costs through the Student Loan scheme.
For study starting on or after 1 January 2012 all students need to be studying full-time or limited full-time with StudyLink's approval regardless of the length of their course to be eligible for this component.
Other changes you need to know about
Other changes for study starting on or after from 1 Janurary 2012 are:
- Exempting sponsored family members of “protected persons” from the two-year stand-down for Student Allowance and Student Loan
The following changes will affect students who have a Student Loan:
- From 1 April 2012 borrowers will be required to apply for a repayment holiday. The term of repayment holiday available will be shortened to one year. This change is subject to legislation expected to be passed in 2012.
- From 1 April 2012 borrowers will no longer be able to include losses in the calculation of income for repayment purposes. This change is subject to legislation expected to be passed in 2012.
- The repayment threshold will remain at $19,084 until 31 March 2015.
Changes for study starting on or after 2013 are:
- All students applying for a new Student Loan will be required to nominate a contact person as a condition of accessing the Student Loan Scheme.
- Students who have an overdue repayment obligation of $500 or more, which has been overdue for a year or more, will not be entitled to further Student Loans while their repayment obligation remains outstanding.
People aged 55 years and over will no longer be eligible for living costs or course-related costs. They will only be eligible for the compulsory fees component of the Student Loan.
Applying for your 2012 student finance
When you apply online this year, there are a few extra things you should do:
Choose to get your mail online - anywhere, anytime
We'll send you an email or text when you have new mail to view. Mail online provides secure storage for your letters in one place and gives you the ease and convenience of checking your mail from any location.
Choose to receive your Student Loan Contract online
You can now view and accept your Student Loan Contract online at MyStudyLink.
Student Loan Contracts online is available to returning students who are 18 years and over and have previously had a Student Loan.
If you can't find work during your study break, you may be eligible for the Unemployment Benefit Student Hardship
You can apply for this at the same time if you need it.