OS-HELP Loans

OS-HELP is a loan scheme to assist eligible undergraduate students to undertake some of their course of study overseas. Your OS-HELP debt is added to your accumulated HELP debt. This loan does not have an interest rate applied to it however there is a one off fee attached. Currently that fee is 20%.

Eligibility

To be eligible for a OS-HELP Loan you must be

• Australian Citizen
• The holder of a permanent humanitarian visa

What does OS-HELP cover?

OS-HELP can be used to for expenses such as airfares, accommodation, and other travel or study expenses.

How many OS-HELP loans can you have?

Eligible students can receive two OS-HELP loans over their lifetime. Each loan relates to a given six month period. You can receive OS-HELP for overseas study periods of less than six months but you cannot receive an OS-HELP loan more than once in a given six month period. Your six month period is taken to commence on the first day that you commence your overseas study and end six months from this commencement date.

How do you apply for OS-HELP?

You must apply through the ECU Study Abroad & Exchange office for an OS-HELP loan. (INSERT APPLICATION) This application should be submitted with your ECU Student Exchange Application.

You will not receive your OS-HELP loan until you sign and submit the OS-HELP debt confirmation form. You must not sign the form until you have read the OS-HELP statement of terms and conditions.

OS-HELP loan fee

A loan fee of 20% is applied to each OS-HELP loan on the day that you are paid your OS-HELP loan. There is no real interest charged on your OS-HELP debt, however the debt is indexed annually to the CPI to maintain its real value.

Example: Simon borrows $5,000 for his OS-HELP loan. Simon will receive $5,000 but the OS-HELP debt will be recorded as $6,000 (that is, 120% x $5,000)

Further assistance

Additional information can be obtained from the DEST 'Going to Uni' website;

http://www.goingtouni.gov.au/Main/Quickfind/StudyOverseas/OSHELP.htm

Alternatively you can call the ECU Study Abroad and Exchange Office or DEST directly.

To download the OS HELP policy, please click here.