Costs & funding

It's important that you consider the financial costs of going overseas to study before you decide to participate in a program.

The cost of studying overseas will vary depending on your destination and lifestyle. You'll need to pay for accommodation at your host university, details of which should be available on the university’s website. Other costs may include:

  • travel costs (airfares)
  • insurance
  • visa fees
  • passport fees
  • textbooks.

While on exchange you will still pay HECS fees for a full-time load at VU. You don't pay any tuition fees to your host university, however, there might be administration costs that you will have to pay).

OS-HELP loans

This loan scheme offers a cash payment loan from the Australian Government, giving you financial assistance during your overseas study program. Full eligibility criteria are outlined in the OS-HELP Loan Application form, but generally to be eligible you must be either a:

  • Commonwealth-supported Australian citizen, or
  • permanent humanitarian visa holder.

You need to have completed 8 units in your degree prior to studying overseas and have 1 unit remaining in your degree upon returning from overseas in order to be eligible for OS-HELP.

2016 OS-HELP loans

Approved loans for Victoria University applicants in 2016:

  • Non-Asian destinations: range from A$1,000 to a maximum of A$ $6,470 for a six month study period.
  • Asian destinations: you may take out a loan of up to $7,764.
    • A supplementary loan of up to $1,035 is available for language study undertaken in preparation for your overseas study in Asia.

2017 OS-HELP loans

Approved loans for Victoria University applicants in 2017:

  • Non-Asian destinations: range from A$1,000 to a maximum of A$ $6,567 for a six month study period.
  • Asian destinations: you may take out a loan of up to $7,880.
    • A supplementary loan of up to $1,050 is available for language study undertaken in preparation for the overseas study in Asia.

Eligible students may receive up to two OS-HELP loans in their lifetime. It is possible to take out two loans during your studies at Victoria University in two different semesters.

Find more information on the OS-Help Loan at the Australian Government's Study Assist site.

Youth allowance/Austudy

If you currently receive Youth allowance or Austudy you:

  • are eligible to continue receiving payments while you study overseas
  • will need to provide evidence that you will be studying full-time on an approved exchange program that will be credited towards your degree

Stay up to date with any changes to Youth Allowance/Austudy through Centrelink.

VU Study Overseas grants

Study Overseas grants are available on the condition that you complete the scheduled pre-departure sessions before you leave, and the re-entry program when you return. You are entitled to only one Study Overseas grant during your studies at VU.

VU Study Overseas Grants are available for students participating in exchanges, study tours and short term programs in 2016. You can receive:

  • A$2,000 for semester/year exchange or study abroad programs
  • A$1,000 for short term overseas study programs
  • A$1,000 for placements and study tours.

Please note: If you are receiving funding from external sources such as the Department of Education for your studies, you will not be eligible for the VU Study Overseas grant for that program.

You may also be eligible for a Victoria University scholarship. Find out more about our range of scholarships.

External grants

Ernst Mach Grant, Austrian Government

The Austrian government provides grants for undergraduate and graduate students studying at any of our Austrian partners for 1-2 semesters. The grant pays for insurance, accommodation, a monthly grant of EUR 940 (approximately A$1400) and travel costs.

Applications close on 1 March each year.

Find our more about the Ernst Mach Grant or contact the Victoria Abroad team for further details.

New Colombo Plan Scholarship Program

The New Colombo Plan (NCP) Scholarship Program provides opportunities for Australian undergraduates, between 18 and 28 years of age, to undertake study, an internship/mentorship and intensive language training in South Asia, South East Asia, North Asia or a number of locations in the Pacific (38 eligible locations).

The plan is a signature initiative of the Australian Government that aims to lift knowledge of the Indo Pacific in Australia and strengthen people-to-people and institutional relationships, through study and work placement undertaken by Australian undergraduate students in the region.

To apply for the scholarship program, you must first be nominated by your university. Each Australian university can nominate a maximum of 10 students.

To be considered for nomination, you need to:

  • Submit a complete a NCP Application for Nomination form together with the required supporting documentation to educationabroad@vu.edu.au by 1 July, 2016.
  • Successful students will be nominated by VU and then receive application guidance and an invitation to complete an online application form from the government.

Find out more about your eligibility, funding, benefits and the process by reviewing the NCP Scholarship Program Guidelines and Advice to Applicants available from the New Colombo Plan website.

Nicolas Baudin Grants, France

This travel grant from the Embassy of France is designed to encourage Australian nationals to study for a semester or a full academic year at a French university at undergraduate level (3rd year), postgraduate level (master 1 or 2: years 4 or 5 of university studies, or PhD). The grant is for the sum of AU$2,300.

Applications open early in the year and close mid-May each year.

Find out more about the Nicolas Baudin Grants or contact the Victoria Abroad team for further details.

Government scholarships

If you meet the Government scholarship selection criteria, you may be eligible to receive A$5,000 in financial assistance for Semester 1 or Semester 2, 2016.

Opportunities in these programs are limited. Eligible countries and number of scholarships for 2016 to be announced.

Partner institution scholarships

Aalborg University, Denmark

The Institutional Travel Scholarship programme is a competitive scholarship of up to 6,000DKK to assist in travel costs.

Contact the Victoria Abroad team for further details.

University of Augsburg, Germany

The University of Augsburg ‘WeltWeit Study Scholarship’ finances the first exchange semester for one outstanding applicant. The scholarship amounts to €2,400.

  • Winter semester - application deadline 30 April
  • Summer semester - application deadline 31 October

Contact the Victoria Abroad team for further details.

University of Bamberg, Germany

The University of Bamberg is offering two scholarships of free accommodation for VU exchange students.

Find out more about these University of Bamberg scholarships or contact the Victoria Abroad team for details about units taught in English.

The Baden-Württemberg scholarship, Germany

The Baden-Württemberg scholarship scheme offers scholarships of approximately EUR 1600 - 2000 (approximately A$2300-2900) for study at Offenburg University of Applied Sciences and Ludwigsburg University of Education.

Contact the Victoria Abroad team for further details.

Bonn-Rhein-Sieg University of Applied Sciences, Germany

Bonn-Rhein-Sieg University of Applied Sciences are offering a scholarship for a study abroad period of 3 months to one of our students who would like to join them in the summer term 2016 (March until September 2016). The scholarship is €250 per month for 3 months which means a total sum of €750. The nationality of the student must be Non-German. More information about this university can be found on the Bonn-Rhein-Sieg University website or contact the Victoria Abroad Team.

Aalborg University, Denmark

Scholarships of up to approximately DKK8,000 (approximately A$1600). Choose between:

  • Spring Semester - submit nominations by 1 October (1 February - 30 June)
  • Autumn Semester - submit nominations by 1 May (1 September - 30 January).

Soonchanhyang University, Republic of Korea (suitable for students interested in Asian studies)

Scholarships of US$800 (approximately A$850) towards airfare and 150,000W per week (approximately A$150 per week) for living expenses.

Munich Business School, Germany

Munich Business School is offering two scholarship of EUR 1,200 (approximately A$1800) for VU exchange students in VU Semester 1 2015 and Semester 2 2015.

Find out more about Exchange at Munich Business School or contact Victoria Abroad for information about this scholarship.

Contact us

For more information about available financial assistance for studying overseas contact Victoria Abroad.