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Scholarships and Finance Photograph of RMIT students

Education - what are the costs?

Organising your finances before you start will enable you to better keep up with your studies.

This site gives you an idea of the kinds of costs that you may face while you are studying. Hopefully the tips and hints here will enable you to design a budget for yourself that will support you through a successful academic career.

Fee options

As a tertiary student, you are required by both State and Federal Governments to contribute to the cost of your education. How much you pay will be dependant on the type of place you are being offered: either TAFE or Higher Education; whether you are a local or an International student.

All local students need to identify whether the place they are being offered is a government supported place or an Australian fee paying place in order to avoid any nasty little surprises later on.

Accommodation

Will you need to move away from home to study?

What are your accommodation options if you move away?

Don't wait until you start your studies to start looking for accommodation, you need to start now!

How much can you afford to pay? Have you thought about the bond? If you are entitled to a CentreLink allowance (see below) you may also be entitled to receive Rental assistance.

More information about accommodation?

Estimate your living expenses

By now we have established that it is going to cost some money while studying. What other expenses might you be up for? Have a look at the example below.

Yearly expenses estimate

Course costs

Books and materials (depending on your chosen course)

$900

One-off costs

Bond (four weeks rent), two weeks rent in advance, furniture and household utility connection:

$1240

Ongoing expenses
Rental share accommodation:($95/week ) $4,940
Food:($65/week) $3,380
Gas, electricity, telephone:($20/week) $1,040
Public transport:($30/week) $1,560
Entertainment/other:($35/week) $1,560

Subtotal:

($245/week) $12,740

Total estimated costs for 52 weeks

$14,880

Please note this is an estimate. Costs will vary depending on where you live etc.

While the above is an estimate of the kinds of costs you may incur you can use a budget calculator to work out your budget for the year.

What financial support is on offer?

You may be entitled to receive financial support through CentreLink while you study, if you are eligible to receive an allowance you can request that CentreLink can provide you with an estimate of the amount you will receive, this will assist you in budgeting for the year. You should also check if you are entitled to receive some rental assistance and a Health Care Card which provides discounts on many essential services, travel and entertainment.

For more information on financial support and assistance, visit Youth Central website.

Scholarships are another form of financial support

RMIT has many Scholarships and Finance on offer it is a good idea to start looking at these before you receive your offer letter as the date for closure of some of these Scholarships is in mid October. Prepare now so as not to be concerned about these when it comes to your VCE exams.

There are also a range of Scholarships offered by other organisations. It is well worth your time to search the criteria for these Scholarships, you never know your luck.