Establishing an income

Work

The main source of income for many students comes from part-time employment. Working around eight to 10 hours per week is ideal, but if you find you need to work more hours, consider reducing your study workload. You will need to discuss this with your faculty office and also consider whether this will affect your eligibility for Centrelink payments.

If you are interested in finding out about employment opportunities, the Monash Careers and Employment service can assist you with:

• employment options – casual, tutoring, part-time or permanent
• hints and tips on improving your employability
• employer information sessions
• campus recruitment for final-year students
• careers information and counselling.

Visit Employment and Career Development for information and links to Career Gateway, an online job database.

International students

International students who wish to work while studying in Australia must apply for a student visa with permission to work. You can apply once you have commenced your studies. Application forms are available from the International Student Services counters on various campuses. The visa, which costs around $55, allows you to work up to 20 hours per week during semester and full-time during the academic breaks. However, the ideal number of working hours is between eight and 10 hours per week.

Australian Government benefits

Centrelink

The following is a general guide to Centrelink payments available for domestic students. Full details of these and other benefits and schemes are outlined below and are available from Centrelink on 13 24 90.

Financial assistance is available for study via means-tested schemes such as the Youth Allowance, ABSTUDY and Austudy payments. Higher degree by research (HDR) students, such as masters and PhD candidates, are not eligible for the Youth Allowance and Austudy. However, if the first year of a masters course is equivalent to a graduate diploma, in some cases payment may be received for this period.

Allowances are usually paid fortnightly during the period of eligibility. A two-year waiting period applies to new permanent residents (including those from New Zealand) before being eligible to apply. Exceptions include refugees and students who are eligible for the homeless rate.

Centrelink call centre numbers

• Youth Allowance – 13 24 90
• Austudy – 13 24 90
• ABSTUDY– 13 23 17
• Newstart – 13 28 50
• Centrelink appointments – 13 10 21

The Youth Allowance scheme applies to full-time (75 per cent or above study load) and part-time students under the age of 21 and full-time students up to the age of 25. Eligibility is based on the parents’ financial situation, unless a student is classified as belonging to one of the independent categories.

If your parents’ income or assets prevent you from receiving Youth Allowance, deferring your place or taking leave of absence to work for about a year may be a sensible strategy for achieving eligibility – contact a Hub student adviser for more information. If you receive Youth Allowance, you may also be entitled to Rent Assistance or the Advance Payment and Fares Allowance and to use the Student Income Bank (see below).

The Austudy Payment is a scheme for students aged 25 years or more. All recipients are considered independent.

Eligibility is determined on the basis of citizenship, personal and partner income and assets tests, as well as previous study completed and current workload. If you receive the Austudy Payment, you may also be entitled to receive the Advance Payment and Fares Allowance and to use the Student Income Bank (see below).

ABSTUDY is available to Aboriginal and Torres Strait Islander students. Payment amounts depend on:

• whether you are studying full-time or part-time
• what course you are studying
• your age
• whether you need to live away from home
• whether you are considered independent or dependent under ABSTUDY
• how much you and your partner or your parents/guardians earn.

If you are an ABSTUDY recipient, you may be entitled to Rent Assistance and Fares Allowance and to use the Student Income Bank (see below).

Further details are also available from the Monash University Centre for Australian Indigenous Studies (CAIS).

The Newstart Allowance is designed to help people looking for work. Part-time students (over 21 years old) may be eligible. Full-time students are not eligible. This is not a living allowance for students, and Centrelink needs to be satisfied that you are looking for work. Further information is also available from a student adviser.

Pensioner Education Supplement (PES) and Education Entry Payment
Students receiving a Centrelink pension and who are studying are eligible to apply for a pension supplement each fortnight during teaching periods and a one-off taxable education entry payment of $208. The PES amount depends on workload, and the maximum payment amount is $62.40 per fortnight.

Rent Assistance is available for Youth Allowance and ABSTUDY recipients living away from home. Students must be eligible for at least some living allowance to receive Rent Assistance. How much you receive depends on the amount of rent you pay and whether you live alone or share with others.

Students eligible for the away-from-home rate due to distance and/or travelling time can receive a Fares Allowance. This can include students undertaking placements that require them to live away from home. It partly covers a single fare from the parental home to the tertiary institution at the start of the course and a single fare to return home at the end of the year. One return journey during the year is also allowed if the course is longer than six months.

If you are receiving a government allowance, you may be eligible to get a lump sum advance of between $250 and $500 from your future payments, depending on how much you usually get paid fortnightly. The advance is repaid by automatic deductions from the next 13 fortnightly payments. To be eligible, you must have received one of the above Centrelink allowances for at least three months and continue to receive it for the entire period of repayment. An advance payment can only be paid once in any 12-month period.

The Income Bank is available to full-time students Youth Allowance, Austudy or ABSTUDY. It is not an actual bank account but a hypothetical balance. Recipients of other Centrelink benefits may be eligible for the 'Working credit' scheme (contact Centrelink for more details).

When your Centrelink payments begin, the balance of your Income Bank is zero. If you earn less from your job than the extra income limit (currently around $236 per fortnight), your hypothetical balance is increased by the difference between $236 and how much you earn. For example, if your job pays $200 in a fortnight, it does not affect your payment and $36 is added to your Income Bank balance (the maximum balance cannot exceed $6000). If you earn over $236 in a fortnight, the extra earnings are deducted from your income bank balance.

This is particularly useful during semester break, as you can work a greater number of hours without your payments being adjusted. Your fortnightly payment won’t be affected by your additional income until your balance becomes zero again, when the normal personal income test rules apply.

Bond Loan Scheme for rental assistance

The Office of Housing within the Victorian Department of Human Services provides assistance for people who may struggle to afford bond payments. You need to satisfy a number of criteria to be eligible, including an income and assets test.

The scheme provides interest-free loans that can be used to cover the cost of the bond. These loans are only for bonds and cannot be used for rent in advance or moving costs. The loan must be repaid at the end of your tenancy. If some of the bond is withheld because of unpaid rent or damages, you are still required to repay the full amount of the loan. You can only apply for a Bond Loan before you have paid any bond money – you cannot be reimbursed for a bond already paid.

For information and application details, visit the Hub on your campus or contact:

• Tenants Union of Victoria, telephone +61 3 9416 2577.
• Office of Housing, telephone +61 3 8341 8200

Scholarships and bursaries

You may be eligible for a university scholarship or burasary. These are highly competitive, but there are a large number of awards available if you meet the criteria for selection. For details refer to Coursework Scholarships.