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Financial Aid for US students

It is possible to bring federal financial assistance to Australian universities. If you're a study abroad student, enquire about using your financial aid plan to study in Australia with your study abroad mentor. You will take your federal assistance loans to Australia whether you are studying for a bachelor's, master's, or doctoral degree.

US Financial Aid

Many Australian universities take part in federal government loan programmes in the United States.

Type of Loans

Stafford Loans, PLUS Loans, and Consolidation Loans are the three main types of the Federal Family Education Loan (FFEL) programme.


PLUS Loans are for the parents of undergraduates.

Grad PLUS loans are for graduate students.

Consolidation Loans combine multiple loans into one loan.


The Stafford Loans are for undergraduate and graduate students, and fall into two groups:


Subsidized: To be eligible for a subsidised Stafford Loan, students must show financial need. The federal government pays interest while the student is enrolled at least half-time, during approved deferment periods, and for six months after the student ceases to be enrolled at least half-time on behalf of the borrower. When the loan is due for repayment, the borrower starts paying interest.


Unsubsidized: To qualify for an unsubsidised Stafford Loan, students do not need to show financial need. Unlike a subsidised loan, the borrower is responsible for any interest that accrues from the time the loan is disbursed, regardless of enrolment status or loan deferments. Interest can be charged monthly, quarterly, or annually, or it can be capitalised (added to the principal balance).


Requirements for Eligibility


To be eligible for a loan, you must meet the following requirements:

Be enrolled or approved for enrolment in an eligible degree or credential programme at an eligible institution for at least half-time study.

A high school diploma or its equivalent is required.


If you're already enrolled, make sure you're in good standing and making good grades.


Be a United States citizen, permanent resident, or eligible non-citizen.


You must not be in default or owe a refund on any federal education grant or loan until appropriate repayment plans have been made.


Stafford Loan Limits


The amount of money a student can borrow under the Stafford Loan programme is restricted by the US federal government on an annual and aggregate basis. For each academic year, a student may obtain a subsidised loan, an unsubsidised loan, or a mix of the two.


The cumulative amount of all Stafford Loans does not, however, surpass the loan limits for the academic year. This number is determined by the student's dependence status, grade level, and duration of study programme. A semester, two semesters, or three semesters is the length of an academic year. A two-semester structure is used in most Australian universities.


For more information on US student loans, go to the US Department of Education's website and click on the "Funding" link.


Call the Federal Student Aid Information Centre toll-free at 1-800-4-FED-AID for more information on US federal loans.

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