Information about financial aid and loans for US students.
Information about financial aid and loans for US students.
Information about financial aid and loans for US students.
RMIT is recognised to receive Sallie Mae student loans.
Other loans are not recognised at RMIT including requests for in-school deferment for existing private loans or new loans.
Sallie Mae Student Loans approved loans for tuition fees and material fees associated with your program.
Please ensure you are aware of the following process involved in relation to private financial loans.
Before applying for the Sallie Mae Private Loan, you must first apply for a Program at RMIT. When submitting your application, please advise that you intend to receive a loan via Sallie Mae.
As an intending borrower through Sallie Mae, RMIT can authorise a substantially reduced deposit payment when you accept an offer letter. The deposit amount is comprised of $500 tuition plus the required Overseas Student Health Cover as listed in your offer letter.
Sallie Mae will contact RMIT to certify your loan amount.
RMIT must have your Social Security Number to certify the loan.
The loan amount you can apply for is capped by the ‘cost of attendance’, which is calculated by RMIT. The cost of attendance includes tuition fees and living expenses for an academic year. The loan amount is distributed in two equal payments, paid out per semester.
RMIT will not certify a loan amount that exceeds the cost of attendance.
It is important to budget for the entire academic year. Before you apply for a loan, calculate how much you will need to cover your tuition, other study costs and living expenses.
The loan amount is distributed per semester, and you will not have access to the funds before the scheduled release of funds to your account. You will see any released funds in your student account on Enrolment Online.
Further financial advice and support.
Sallie Mae will make payment of your loan to RMIT 7 days prior to Program commencement.
You must be enrolled in 48 credit points (or equivalent) by this time.
When you enrol in your Program an invoice is generated. The payment of the Sallie Mae loan will be applied to any outstanding invoice. Any leftover amount from the loan is considered ‘excess’ and can be released to your bank account to cover living expenses.
If you do not apply for the excess payments to be ‘refunded’ to you, they will automatically carry over as credit for your next period of study.
Submit a refund form and select ‘US Financial Aid recipient’.
Your refund request will be managed by RMIT Connect.
Submit an enquiry to Student Connect.
RMIT will no longer be registered to accept new United States loans from either the William Ford Federal Program or the Veterans’ Affairs Program as of Semester 1, 2020.
For existing US students who remain eligible for benefits under this scheme, please note:
The scholarship application process is highly competitive with a limited number of scholarships available. Unfortunately, not all eligible applicants will receive one.
Only successful candidates will be notified via email to their RMIT student account.
For information about other financial assistance available to RMIT students, please speak to one of our Student Welfare Advisors.
Acknowledgement of Country
RMIT University acknowledges the people of the Woi wurrung and Boon wurrung language groups of the eastern Kulin Nation on whose unceded lands we conduct the business of the University. RMIT University respectfully acknowledges their Ancestors and Elders, past and present. RMIT also acknowledges the Traditional Custodians and their Ancestors of the lands and waters across Australia where we conduct our business - Artwork 'Sentient' by Hollie Johnson, Gunaikurnai and Monero Ngarigo.