It's important to consider the financial costs of studying overseas. These costs vary depending on the destination and your lifestyle.
Study costs on exchange
You will continue to pay tuition to VU while on exchange. If you are a Commonwealth Supported Place (CSP) student, fees are added to your HECS-HELP loan and charged at the domestic-student tuition-fee rate. You do not pay any tuition fees to your host university.
When undertaking a study tour you will be enrolled into a VU unit and will incur the usual tuition fee (whether through a loan or paying upfront). Most study tours also have a fee for travel costs, accommodation and additional activities. This fee will need to be paid upfront before departure.
Tuition fees for short programs vary. For those that are offered on a fee-paying basis by another institution, all fees are paid directly to that institution. If the program falls within an exchange agreement with VU, you will incur fees as you would when studying at VU (deferred or paid upfront). In both cases, there may also be fees for accommodation and non-academic program activities. Short programs generally do not provide group-flight options.
International student fees are paid to VU, charged at the VU international student fee rate.
Personal costs vary according to your destination, but you will need to budget for:
- travel costs: airfares and surface travel to and from your study destination
- accommodation: whether you stay on-campus, in a homestay, or in private accommodation, you will usually need to pay for it
- living costs: your daily expenses
- visa and passport fees: you will need a passport and for many study destinations you will require a visa, particularly if you are enrolling as an exchange student
- study costs: you may require textbooks, online materials, or other study equipment
- insurance: the University provides some coverage, but you may require additional insurance coverage, particularly if you plan to travel before or after your study.
There are a number of ways you can fund your overseas study experience including grants, loans and government scholarships.
This loan scheme offers a cash payment loan from the Australian Government that is added to your HECS-HELP debt. To be eligible you must meet the following criteria:
- Commonwealth-supported Australian citizen, or permanent humanitarian visa holder
- have completed 8 units in your degree prior to studying overseas
- have at least 1 unit remaining in your degree upon returning from overseas.
Full eligibility criteria are outlined on the OS-HELP website.
2018 OS-HELP loans amounts
- non-Asian destinations: up to $6,665
- Asian destinations: up to $7,998
- a supplementary loan of up to $1,065 is available for language study undertaken in preparation for your overseas study in Asia.
Eligible students can receive a maximum of two OS-HELP loans over their lifetime. The loans must be applied at least six months apart.
If you currently receive Youth Allowance or Austudy you may be eligible to continue receiving payments while you study overseas.
You will need to provide evidence that you will be studying full-time on an approved overseas program that will be credited towards your degree. Victoria Abroad will provide a letter to assist.
VU Study Overseas grants are available for students participating in exchanges, study tours and short programs. Grants are available on the condition that:
- your overseas study experience counts towards your degree
- you complete the scheduled pre-departure sessions before you leave
- you complete the re-entry program when you return.
- semester/year exchanges or study abroad programs: $2,000
- short programs: $1,000
- placements and study tours: $1,000.
If you receive funding from external sources such as the Department of Education for your studies, you will not be eligible to receive the VU Study Overseas grant for that program.
You may also be eligible for a Victoria University scholarship.
Victoria Abroad receives additional funding from the Australian Government to support overseas study. If you apply for the following opportunities, you will be automatically considered for this funding.
- China: Endeavour Australia Cheung Kong Student Exchange scholarship – $5,000
- Ecuador: ISEP scholarship – $5,000
- Fiji: New Colombo Plan semester grant – $5,000
- Indonesia: New Colombo Plan semester grant - $5,000.
- South Korea: Endeavour Australia Cheung Kong Student Exchange scholarship and New Colombo Plan semester grant – $5,000
- Taiwan: New Colombo Plan semester grant – $5,000
A number of partner universities have additional funding on offer for semester exchange experiences. If you apply to any of the following partner universities for exchange, you will be automatically considered for this funding.
Munich Business School (MBS), Germany
MBS offers two €1,000 scholarships each year to Victoria University students. To be eligible, students must have a grade average above 70 and be studying a business-related degree. Available to both bachelor and master's students.
University of Bamberg, Germany
The University of Bamberg is offering free university housing accommodation throughout the semester for two VU students per academic year.