Bond Bond Medicine: FEE-HELP / HECS-HELP Discussion

[TMM]

Hey guys,

I know there are different threads with a similar question but seem to get off topic quickly. Does anyone know the financing options for a NZ citizen to attend Bond? I've done a bit of research around Commonwealth Supported Places (CSPs) but since Bond is private we cannot access these. I've looked at FEE-HELP etc and that seems to require 10 years prior residency in Australia and covers 150k (of ~400k).

Is the only real option having a wealthy family that are willing to front the large tuition fees? Any other advice for this situation? Cheers

 

[chinaski]

Is the only real option having a wealthy family that are willing to front the large tuition fees?

Pretty much the same boat the majority of Australians are in, yep.

 

[TMM]

Pretty much the same boat the majority of Australians are in, yep.

That is very tough! I am keen to hear any other ideas from Bond students or other.

 

[Crow]

That is very tough! I am keen to hear any other ideas from Bond students or other.

Don’t mean to be brutal, but I’m not sure what “other ideas” you could be after/expecting - you have to find the money somewhere, either from wealthy family members or having your family take out a loan - note that the repayment will likely cost significantly more than the loan itself if you choose to / are considering this as an option.

 

[Jason990090]

Hey, I know 1 person who got in 3 years ago and her mum is using their savings + 100k loan to pay it all off. Another person who is currently in 2nd year told me that they have gotten another mortgage on their house. Mind you these guys are pretty well off by Aussie standards and even they have to make significant financial sacrifices.

You will likely not be able to afford bond if your family income is less than 170k AUD I have been told by a gold coast finance expert.

I admit that I am in an EXTREMELY [really emphasising this] privileged position for my family to be able to afford these fees. I dont lie to myself or anyone about the privilege that I have just by being born in my family, but I am not afraid to use these financial resources as this is what my grandmother wanted me to do a few years back.

 

[chinaski]

Don’t mean to be brutal, but I’m not sure what “other ideas” you could be after/expecting - you have to find the money somewhere, either from wealthy family members or having your family take out a loan - note that the repayment will likely cost significantly more than the loan itself if you choose to / are considering this as an option.

This. There is no magic money tree that one can go out and shake in order to come up with a huge lump of money. To my knowledge there are no special scholarships or bursaries that exist to fund New Zealand students to study at Bond - and I assume as a Kiwi you'd already be aware of any availability of similar schemes that are available within New Zealand for overseas study.

Ultimately, only a small fraction of Australia's overall population is in a financial situation wherein footing the bill for full university fees is feasible - it's a goal that is simply out of reach for most people. In this respect, New Zealand students are really no worse off than Australians in the context of studying at Bond.

 

[Gangau]

Hey guys,

I know there are different threads with a similar question but seem to get off topic quickly. Does anyone know the financing options for a NZ citizen to attend Bond? I've done a bit of research around Commonwealth Supported Places (CSPs) but since Bond is private we cannot access these. I've looked at FEE-HELP etc and that seems to require 10 years prior residency in Australia and covers 150k (of ~400k).

Is the only real option having a wealthy family that are willing to front the large tuition fees? Any other advice for this situation? Cheers

YES
But you are
a New Zealand Special Category visa (SCV) holder or permanent humanitarian visa holder and meet the residency requirements.

 

[DrDrLMG!]

YES
But you are
a New Zealand Special Category visa (SCV) holder or permanent humanitarian visa holder and meet the residency requirements.

This still leaves the OP ~250k short (as it does locals).

 

[sedaboutmed]

could someone explain the information in this image for me

 

[DrDrLMG!]

could someone explain the information in this image for me

It’s regarding payment options for the Student Services and Amenities Fee (ie. ‘student union fee’). This is a compulsory fee that sits outside your course fees and this is explaining that you can get a loan to cover the cost if required and other conditions of the fee. If you don’t know what the SSAF is, a quick google will help you out.

 

[saba5678]

Obviously completely up to you, but if you have no interest in becoming a dentist, I'm not sure if enrolling in a dentistry degree on the chance that you "might start liking it" is a good idea. The ATAR does guarantee you a spot, but it's a full fee paying position, which will cost about 300k at UniMelb - are you in the position to afford that even though you can't pay for Bond?

Sorry to play the Devil's advocate - it's just important to think ahead with these things first.

From my research at least, Fee-Help applies to UMelb but not Bond so i guess that might easen the burden. I'll also be working as much as I can throughout uni

 

[Crow]

From my research at least, Fee-Help applies to UMelb but not Bond so i guess that might easen the burden. I'll also be working as much as I can throughout uni

FEE-HELP applies to both - but you can loan a maximum of 150k and you have to pay the rest up front. So, you would need 150k for UniMelb and a little over 250k for Bond.

 

[dotwingz]

If i recall the defense scholarship will pay the HELP part of your fees... whether this means you can max out $150k on ADF then add another $150k on HELP im not sure

Actually i found this brochure that said which means you wont be able to increase your HELP limit with the ADF

Your university fees will be paid from day one of your employment

https://www.defencejobs.gov.au/-/media/DFR/Files/Defence-University-Sponsorship-Brochure.pdf

 

[Crow]

If i recall the defense scholarship will pay the HELP part of your fees... whether this means you can max out $150k on ADF then add another $150k on HELP im not sure

Actually i found this brochure that said which means you wont be able to increase your HELP limit with the ADF

https://www.defencejobs.gov.au/-/media/DFR/Files/Defence-University-Sponsorship-Brochure.pdf

They pay the equivalent of the cost of the government's contribution to a standard CSP. I think this is ~30k per year of the degree, so 120k for UniMelb.

 

[dotwingz]

They pay the equivalent of the cost of the government's contribution to a standard CSP. I think this is ~30k per year of the degree, so 120k for UniMelb.

Interesting because their website says *From the point your sponsorship is approved, the ADF will pay your HELP fees up to the Commonwealth Supported Place amount.

Which seems contradictory to their message before which says they'll only pay it once you start working

 

[Crow]

Interesting because their website says *From the point your sponsorship is approved, the ADF will pay your HELP fees up to the Commonwealth Supported Place amount.

Which seems contradictory to their message before which says they'll only pay it once you start working

I'm pretty certain they do start paying it off while you're still at uni, as I have friends currently going down that path. But, it's never surprising to find contradictory information

 

[___anonymous___]

so you can't apply for hecs?? and you have to take out a loan if you don't have the money?

 

[Caffeine]

so you can't apply for hecs?? and you have to take out a loan if you don't have the money?

Not for the full amount, you can get a HECS-HELP loan for up to 155k but that includes any other prior study being counted towards that limit so say you studied for 1 year for 12k, you would be able to borrow 143k from the Government. The remainder you will have to self finance

 

[Ajakara]

Not for the full amount, you can get a HECS-HELP loan for up to 155k but that includes any other prior study being counted towards that limit so say you studied for 1 year for 12k, you would be able to borrow 143k from the Government. The remainder you will have to self finance

Does this mean if you have completed a previous degree (CSP, so would use a HECS loan), this amount from the degree would be deducted from the full 155k you can be eligible for? Or is the HECS-HELP loan a separate thing where you can take out the full 155k?

 

[Caffeine]

Does this mean if you have completed a previous degree (CSP, so would use a HECS loan), this amount from the degree would be deducted from the full 155k you can be eligible for? Or is the HECS-HELP loan a separate thing where you can take out the full 155k?

It would be deducted from the 155k