Long-term loan 2026

A long-term loan will only be approved for:

• Course-related expenses (excludes tuition fees) such as travel, equipment, texts; and/or
• Living expenses such as bond, rent, or bills.

A long-term loan is a secured loan, which means a guarantor is required to cover payment of the loan if you do not. The University will only accept a guarantor who is over 21 years of age, and who is not:

• A student at the University or any other tertiary institution
• Your partner
• Sharing accommodation with you 
• In debt to the University
• In receipt of Centrelink payments

To be eligible to apply for a student loan, you must have a current enrolment at the University of Melbourne.

You cannot apply for a loan if you are:

• On a Leave of Absence
• Enrolled in a Community Access Program or a cross-institutional study
• Residing overseas (except for outbound Study Abroad and Exchange students)
• Under 18 years of age

The maximum amount you can borrow is $5,000, depending on your guarantor:

• If your guarantor is not an Australian permanent resident/citizen, or is not living in Australia, you can borrow up to $3,000.
• If your guarantor is an Australian permanent resident/citizen and lives in Australia, you can borrow up to $5,000.

If you are not an Australian citizen, or do not have permanent residency status, or if your guarantor is residing overseas, you must repay the loan before course completion.

If you are an Australian citizen or permanent resident, you can repay the loan after course completion.

Loan repayments are made via BPay. They can be made in full or by instalments to the University’s Finance Department.

For more information about the administration of University of Melbourne student loans, please see the Student Loans, Fees and Charges Policy (MPF1325).

Complete the form and submit the following required documents.

1. Your student ID
2. Guarantor’s photo ID (eg a driver's license or passport)
3. Guarantor’s proof of current residential address (eg a driver's license or utility invoice)
4. Guarantor’s proof of residency status (eg a passport/PR visa or birth certificate/extract)
5. Guarantor's proof of income (eg a council rate notice, pay slip, or letter from an accountant - evidence must be in English and dated within the last 8 weeks).

Applications are assessed by the Loan Approval Group. Loans will only be approved for course-related expenses (excludes tuition fees) such as IT equipment, texts, and/or living expenses such as paying your bond, rent and bills. You will be emailed the outcome of your application within five working days of submission.

If your application for a long-term loan is approved, you will be emailed your loan contracts with instructions on how to complete and return the required paperwork. Once received, payment will be made to your nominated bank account.

If your application is not approved and you wish to appeal the decision, please email student-loans@unimelb.edu.au outlining the reasons for your appeal. You will be contacted within five working days of the outcome.

If you want to discuss whether a long-term loan is right for you, or you want to explore other options for financial support, please email Financial Aid at student-loans@unimelb.edu.au.