Postgraduate program costs and loans
How, and how much, will you pay for your degree?
How much your degree will cost and the type of government loan assistance (if any) available will depend on which of the two types of degree ‘places’ you get. The two types are Commonwealth Supported Places (CSP) and full-fee places.
In contrast with undergraduate degrees, the vast majority of places at postgraduate level are full-fee.
Commonwealth Supported Places (CSP)
Full-fee places
Commonwealth Supported Places (CSP)
What are they?
Commonwealth Supported Places in degrees are subsidised by the government. These places are only available to domestic students, not international students.
Where are they available?
The majority of places in all undergraduate degrees offered by public universities are Commonwealth Supported Places. Some universities also offer these places at postgraduate level. For example, The University of Melbourne has introduced a new suite of graduate programs, many of which include CSPs.
Cost of study
The government subsidises only part of the cost of your degree. If you get a Commonwealth Supported Place, you will foot the bill for the rest of the cost; this is called your student contribution. How much you will pay depends on where and especially what you choose to study.
What you study
You can study anything from dentistry to environmental studies to accounting. However programs in different fields cost different amounts. The costs are divided in three ‘bands’, with each band subject to a different maximum cost per unit.
In 2005 a new ‘National Priority’ band was added to attract students to fields with a shortage of skilled graduates. This lower contribution rate initially applied to education and nursing. The government recently announced that from 2009 mathematics and science would also be included in the ‘National Priority’ band.
Note that the highest contribution rate now applies for units in accounting, administration, economics and commerce (for students starting after 2008).
The maximum student contribution amounts change every year. In 2010, they are:
BAND 1: $5310 (fields such as humanities, social studies, languages, visual and performing arts).
BAND 2: $7567 (fields such as agriculture, mathematics (including statistics)*, built environment, computing, health, engineering, science*, surveying).
BAND 3: $8859 (fields such as law, medicine, dentistry, veterinary science, accounting, administration, economics, commerce).
National Priority: $4249
* Recently announced as ‘National Priority’ fields from 2009.
It is worth noting that these student contributions are calculated unit-by-unit, rather than by simply applying one rate for the whole program. So, if you study nursing, for example, but you are allowed to take some business courses as electives, then these business courses will be charged according to the maximum rate for the ‘band’ in which they are classified, rather than at the National Priority rate.
The institution you choose
Where you study might also have an influence on the cost of your course. This is because in 2005, the federal government introduced a flexible cost structure for Commonwealth Supported Places. However, this does not mean that universities can charge whatever they want for their units of study.
What it does mean is that universities and other providers offering Commonwealth Supported Places are allowed some flexibility to choose their student contribution rates. Institutions can choose to set the rate for units in each band between $0 and the maximum rates listed above.
Is there much of a difference? Some universities charge a lower rate than the maximum, at least in some fields. However, it is probably fair to say that most apply the maximum rates above.
Loans for student contribution
Government loans
Commonwealth students have access to HECS-HELP, which is a government loan scheme that enables you to defer payment of your contribution amount.
It is an interest free, income contingent loan scheme, which means that students do not start paying the loan back until their income reaches a certain level or ‘payment threshold’.
For more information about this payment threshold and other HECS-HELP details, see the Going to Uni website .
Full-fee places
What are they?
Full-fee places are those that are not subsidised by the government. By definition, they are more costly since the entire cost of the course is borne by students, rather than just a partial contribution amount.
If you are an international student, a full-fee place is your only option.
Where are they available?
Although there has been a slight improvement in the availability of subsidised places at postgraduate level in universities, most postgraduate places at universities and other private higher education providers are still full-fee.
Cost
At private higher education providers, and at universities of all types, fees can run fairly high for these unsubsidised full-fee places. This is especially so in certain fields, such as business, law, medicine and dentistry.
The cost of a postgraduate course depends on its length and the qualification it leads to. For example, the average graduate certificate is around $5000, while graduate diplomas and masters are often above $10,000. Be aware that there is an increasing number of professional qualifications offered at masters level that are far more expensive than their undergraduate equivalents.
Loans for tuition fees
Government loans
Full-fee students at universities and approved private higher education providers can access FEE-HELP, which is a government loan scheme that enables you to defer payment of all or part of your tuition fees.
It is an interest free, income contingent loan scheme, which means that students do not start paying the loan back until their income reaches a certain level or ‘payment threshold’.
The main difference between HECS-HELP and FEE-HELP is that FEE-HELP loans are capped at $85,062, indexed annually (or $106,328 for some medicine, dentistry and veterinary science programs).
Since full-fee tuition payments are not subsidised and not set within ranges stipulated by the government, there can sometimes be a shortfall between costs and borrowings for some courses.
For more information about the payment threshold and other FEE-HELP details, see Going to Uni .
Will I get a loan?
Not all private higher education providers are eligible to offer their students FEE-HELP loans for their full-fee places. Only those that are on the official list of eligible higher education providers can offer this loan facility.
Universities (public and private) offering full-fee places can usually offer FEE-HELP to students in all courses.
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