Changes to Higher Education Funding - Section contents
The University of Melbourne is committed to a providing a world-class educational experience offering students the time, opportunity and insight to follow the best career path for them.
The Federal Minister for Education has recently announced some significant changes to higher education funding. Here we summarise key changes that will affect students enrolling in 2018.
- In 2018 the University of Melbourne will have an unchanged number of Commonwealth Supported Places (CSP) for domestic students who enter our undergraduate degrees. These students will be eligible to apply for a CSP or Australian Fee place for graduate courses in the future, should they successfully complete the course prerequisites. The government’s plans for funding graduate CSPs for 2019 and beyond are not clear at this stage. The University will provide full details on this webpage once they are known.
- From 1 July 2018, there will be revised repayment thresholds under the Higher Education Loan Program (HELP) that includes a new minimum threshold of $45,000 with a 1 per cent repayment rate and a maximum threshold of $131,989 with a 10 per cent repayment rate. The minimum HELP repayment will be reduced to $51,956 for the 2018/19 income year.
- From 1 January 2019, a combined lifetime limit will apply for all tuition fee assistance under HECS-HELP, FEE-HELP, VET FEE-HELP and VET Student Loans of $104,440 for most students and $150,000 for students undertaking medicine, dentistry and veterinary science courses.
- The Government has confirmed that for 2018 there will be no changes to the current arrangements for New Zealand citizens and Australian Permanent Residents so these students will be eligible for CSPs.