OS-HELP
Eligibility
You are eligible to apply for an OS-HELP Loan in relation to a six month study period overseas if you:
- are an Australian citizen or the holder of a permanent humanitarian visa;
- have at least 50 credit points remaining upon your return to complete your degree course (not including your overseas study). Diploma credits cannot be included when calculating the 50 credit points required to be completed when you return to Melbourne. DEEWR considers diplomas to be separate to a single 3-year degree or a combined degree;
- are enrolled in an undergraduate degree course of study at the UoM. Students undertaking Masters Courses (including those in the Faculty of Architecture, Building and Planning which were previously undergraduate courses) are not considered eligible for an OS-HELP Loan. Students undertaking a diploma as their overseas study are not considered eligible for an OS-HELP Loan by DEEWR;
- have already completed at least one year of study (100 credit points) in Australia as a Commonwealth Supported Student in a CSP place (ie as a HECS student) that counts towards your degree course of study at the University of Melbourne. Diploma credits cannot be included when calculating the completed 100 credit points;
- have not received OS-HELP assistance on more than one other occasion or been granted OS-HELP assistance by another university for an overlapping six month period;
- will be enrolled full-time or full-time pro-rata for credit with an approved overseas higher education institution (a UoM partner institution) and will be undertaking that study outside Australia as part of Exchange or Study Abroad. You must receive the equivalent or greater credit points as you would if you remained studying at the UoM
Full-time Pro-Rata Calculation
|
Credit for overseas study
|
is greater than or equal to
|
Duration of overseas study in weeks divided by 12 weeks
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multiplied by
|
Minimum credit that you would normally receive (37.5 points)
|
Example 1
Sarah will receive 12.5 credit points for a 3 week study tour in China
3 ÷ 12 = 0.25
0.25 x 37.5 = 9.38
12.5 credit points is greater than 9.38
Sarah meets the full-time eligibility criteria for an OS-HELP Loan
Example 2
Michael will receive 12.5 credit points for his 8 week study tour in France
8 ÷ 12 = 0.67
0.67 x 37.5 = 25.12
12.5 credit points is less than 25.12
Michael does not meets the full-time eligibility criteria for an OS-HELP Loan
Example 3
Courtney will receive 25 credit points for her 9-week study tour in Germany
9 ÷ 12 = 0.75
0.75 x 37.5 = 28.13
25 credit points is less than 28.13
Courtney does not meets the full-time eligibility criteria for an OS-HELP Loan
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Length of
Overseas Study |
Credit points |
Are you eligible?
|
|---|---|---|
|
1-4 weeks
|
12.5
|
Yes, because you will receive greater credit pro-rata |
|
4-11 weeks
|
12.5
|
No, because you will receive less credit pro-rata |
|
1 semester
|
37.5 minimum
|
Yes
|
|
2 semesters
|
75 minimum
|
Yes
|
Loan Amount
The number of loans available is dependent on Government funding.
|
Year
|
Amount
|
|---|---|
|
2012
|
up to $5,824
|
Second Loans
- If you are studying overseas for two six month periods (ie. two semesters) you may apply for a second loan
- Please indicate on your application form that you are applying for two loans.
- Following the eligibility check, if you are deemed eligible, we will mail to you an offer letter, an acceptance form and two OS HELP Debt Confirmation forms. Fill out both forms with the starting dates of each six month study period. Return all forms to the MSO.
- Approx six weeks prior to the end of your first six-month period, please email us to request that we commence the eligibility checking for the second loan.
- We will email you a second offer letter and acceptance form. Pleae email back your acceptance.
- We can only pay the second loan six months and one day after the commencement date of your first loan. This is a Government requirment.
Power of Attorney
You may wish to organise a Power of Attorney before you leave for your overseas destination as forms cannot be emailed or faxed and mail services can be unreliable in some countries, should you decide to apply for a second OS-HELP loan when you are already overseas.
It can take 4-6 weeks to process payment. To accept the loan on your behalf your Power of Attorney must enclose a certified copy of the signed Power of Attorney statement with the completed acceptance form and OS-HELP Debt Confirmation carbon copies. For more information on appointing a Power of Attorney please visit the Department of Justice.
Selection
Where there are more applications than funding available, loans will be allocated on the basis of academic merit. Students with the highest weighted averages over the most recent 100 points of study will be allocated their requested funding first, although preference may be given to certain institutions of study. This will be advertised at the time of application.
Application process
To apply you must complete an OS-HELP Loan Application Form and submit it to the Melbourne Scholarships Office at least 6 weeks prior to leaving for your overseas study.
Timeline
- You must be enrolled in your Exchange / Study Abroad points for credit before we can commence the eligibility checking. To assess your eligibility, we must be able to calculate the points.
- Once you are deemed eligible, we will mail you an offer letter and acceptance form and the OS-HELP Loan Debt Confirmation form(s). We cannot email the forms to you because they contain carbon copies.
- Once we have received your acceptance form, there is a mandatory 2-week cooling off period. We cannot pay you until this has passed and not before six weeks prior to the commencment date as entered on your OS-HELP Loan Debt Confirmation form
Payment of Loan
We can pay you when you:
- submit your acceptance and OS-HELP Loan Debt Confirmation form(s);
- enter your bank account details via your Student Portal;
- have been accepted by an approved overseas institution;
- have an approved overseas study plan with credit worth at least 37.5 UoM confirmed by your faculty on your student record;
You are determined to have incurred an OS-HELP debt on the day that you receive the money. The money will be paid by electronic transfer of funds into the Australian bank account you nominate.
Withdrawing Your Loan
Before being paid
If you receive an OS-HELP loan offer and your circumstances change so that you no longer meet the eligibility criteria or it is determined that you have provided false or misleading information but have not been paid the loan, the University is obliged to withdraw the offer of a loan.
After being paid
If the loan has already been paid to you and your circumstances change so that you are no longer eligible or able to study overseas, the debt has already been incurred and you can only repay the debt through the Australian Taxation Office. 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, the University must notify DEEWR immediately of the suspected offence.
Deferring your loan
You cannot defer an OS-HELP Loan. You may decline the offer, then apply again at a later stage if you still meet the eligibility criteria.