Last updated:
How to make the most of your money and manage costs on a student budget.
Work out your study and living costs
On top of your study costs, plan how to meet your other living expenses when you start tertiary study. You may not be able to work as much, or you may need to move closer to where you study.
The costs to consider include:
- course fees
- other student fees
- textbooks
- computer and internet
- mobile phone
- tools or equipment
- running a car, or other transport costs
- rent and other living out of home costs
Start a budget
Doing a budget will help you manage your money.
As a first step, work out what all of your costs (like the ones listed above) are likely to be. Of you haven’t started studying yet, you might not know what all the study-related costs are likely to be. But most higher education providers will have information on their website to help you work it out.
Knowing your likely costs will help you work out what you need to earn each fortnight or month.
Work out your income while studying
Sources of income that might be available to you as a student include government benefits, scholarships, and paid employment.
Check what student payments you can get
As a student, you may be eligible to receive Centrelink payments. These payments can help to cover your living expenses while you study or look for work.
Find out if you're eligible and how to apply:
|
Benefit |
Eligibility basics |
|
|
|
|
|
There are other payments you might be able to access to help pay for relocation costs, living costs, depending on your situation.
Use the Services Australia Payment Finder to see which payment you may be able to apply for and to estimate how much you’ll get.
If you’ve recently moved to Australia, see help for refugees, humanitarian entrants and new arrivals on the Services Australia website.
Check scholarships, grants and bursaries
There are many scholarships, grants, or bursaries you may be able to apply for.
Some are offered by the higher education providers, some by the government and some by other organisations.
Learn more about types of scholarships available.
Balance paid work and study
To make ends meet you may also need to juggle paid employment with study.
Read our tips on getting a job. We cover what to expect with pay, tax, and superannuation when you get a job. And how to get help if you're being underpaid.
Know the costs of your course
It’s really important for you to know that the cost of studying can vary by many thousands of dollars, depending on where and what you decide to study, and whether you’re eligible for a government subsidised Commonwealth supported place (CSP). A CSP means the Australian Government pays part of your course cost straight to the provider on your behalf.
Most undergraduate domestic students will be eligible for a CSP at a public university. If you go to a private education provider, you’ll enrol in a full fee-paying place.
Learn more about the types of study and how to compare costs.
HECS-HELP loans for study costs
You may be eligible for a government loan to help cover the costs of studying:
- The Higher Education Loan Program (HELP) helps students pay for expenses like course fees.
- The government also offers loans for students and apprentices receiving government benefits.
Find out if you're eligible for a HELP loan and how to apply:
|
Loan type |
Eligibility |
|
Students enrolled in a Commonwealth supported place (CSP). Use it for: course fees |
|
|
Fee-paying undergraduate and postgraduate students. Use it for: course fees |
|
|
Use it for: student services and amenities fees |
|
|
Commonwealth supported place students who want to study overseas. Use it for: travel costs, accommodation or study expenses |
|
|
Students who receive Youth Allowance, Austudy, or ABSTUDY. |
|
|
Australian apprentices Use it for: living costs (like rent and bills) or course-related costs (like tools) |
|
|
Helps cover tuition fees for vocational education and training (VET) courses. Available for approved courses at the diploma level and above. |
When you repay your HELP debt
When you start earning above $69,528 per year, you start repaying your study and training loans through the tax system. This amount is called the 'compulsory repayment threshold'.
The amount you repay will depend how much you earn.
Find out more about current thresholds and repayment rates.
As if your employer can help pay for study
Studying or training is a great way to upskill or get ahead in your career.
Some employers will pay for your education!
For example:
- If you're doing on-the-job training through an apprenticeship or traineeship scheme, your employer may agree to pay your wage while you get your qualification.
- Australian Defence Force Academy. The Australian Defence Force Academy (ADFA) offers tax-free pay and allowances to eligible students who take on a career in the Australian Defence Force. ADFA also pays for undergraduate or postgraduate degrees.
If you’re a permanent employee, it’s worth checking with your employer to see what opportunities there may be for funded study.
You may be able to claim some of your study expenses as a tax deduction. See self-education expenses on the Australian Taxation Office website to find out more.
Money tips for students
Start saving while you study
Start saving some money — no matter how small the amount you can put aside. This will help you cope with big bills and avoid money problems in future.
To start:
- Keep a no-fee transaction account for your day-to-day needs
- Open a savings account to start putting a little bit aside.
- Save for an emergency fund to build a safety net for unexpected expenses.
Set reminders for important payments
Try setting yourself calendar reminders for things like:
- when course fees are due
- when to pay rent and utility bills
If you're finding it hard to pay a big bill, ask if you can get an extension or pay in instalments. See problems paying your bills and fines.
Protect yourself from scams
If someone you don't know asks for your personal details or offers you a special deal, it could be a scam. For example, someone could offer you a discount on your course fees if you pay through them.
See banking and credit scams for what to look for to spot a scam, and how to protect yourself. Check the Scamwatch website for the latest information about scams.
Get help with money
If you're feeling overwhelmed by money or personal issues, you don't have to go it alone. There is help available:
- Contact your course provider's student support services if you need financial assistance or help in a crisis.
- See get debt under control for simple steps to get out of debt and stay out.
- Visit the National Debt Helpline website or call 1800 007 007 for free and confidential advice. The helpline is open Monday to Friday, 9:30am to 4:30pm.
- There are services to help you with food, housing and bills in a crisis, as well as emotional support. See urgent help with money.
Join thousands of Australians and get tools, tips and calculators to help with your money - straight to your inbox each month.
Sign up