Short-term loans

Short-term loans are useful for immediate cash flow problems, when other sources of financial support are not available or limited.

We acknowledge that you might be experiencing unexpected financial challenges because of COVID-19, so we've developed financial support packages to help support you during this time. Find out more.

This interest free student loan will only be approved for:

  • Course-related expenses such as travel, equipment, books and fees, and/or
  • Living expenses such as bond, rent or bills.

Eligibility

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
  • Undertaking a Community Access Program or cross-institutional study.

How much can I borrow?

The maximum amount available to borrow is $1,000 without a guarantor.

When do I have to repay the loan?

All short-term loans taken out in 2020 must be repaid by 1 November 2020.

Loan repayments are made via BPay. They can be made in full or by instalments to the University’s Finance Department. Penalties (including being unable to re-enrol, obtain an academic transcript or graduate) will apply if your loan is not repaid within the agreed timeframe.

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

How do I apply?

  1. Download the short-term loan application form (PDF 249.7 KB) to your computer.
  2. Complete and save the form. Check the completed form to ensure all the required information is present and correct.
  3. Email the completed application form and a copy of your student ID to student-loans@unimelb.edu.au.

What happens next?

Applications are assessed by the Loan Approval Group. You will be emailed the outcome within five working days.

If your application for a short-term loan is approved, you will be asked for your bank details. Once received, payment will be made to your nominated Australian bank account.

Still not sure?

If you want to discuss whether a short-term loan is right for you, or you want to explore other options for financial support, please book an appointment with a Financial Aid Adviser.