- Flexible repayment
- Easy to apply
- Affordable loans
[Accessed May 2, 2023]
Victoria University - they can help you cover study expenses
If you are a student at Victoria University you may qualify for a student loan of up to $500 to help pay for study-related costs such as buying books, laptops and other course-related materials.
To apply for a Victoria University student loan you need to be enrolled in the university and enrolled in a higher education or TAFE course.
The student will need to show that they will be able to pay back the loan and complete an online loan application. The student will need to provide proof of their income in the form of pay slips and show evidence of what they plan on using the loan for.
In some cases, a student will need a guarantor to co-sign on the loan. If the loan amount is more than $300 or if the student is under the age of 18 years old they will need a guarantor.
What is a guarantor?
A guarantor is a person that can co-sign on a student loan. They will be responsible for the loan amount if you are unable to make payments. The criteria include:
- They must be an Australian citizen and live in Australia
- They can’t be a student or staff member at Victoria University
- The guarantor forms will need to be signed by a Justice of Peace that must witness the documents being signed.
Convenient loan repayment plans
Your student loan can be paid to you in the form of a bookshop voucher which you can redeem at the Victoria University bookshop. The voucher can be used to purchase books and other study-related items.
If you have any questions about how you can obtain a student loan or if you need financial advice then make an appointment to see your senior advisor they can assist you with anything that may impact your studies such as your housing requirements, welfare, Centrelink payments or other issues.
Payment plan for TAFE students
To help those students that are having a hard time paying their fees Victoria University has developed a payment plan that allows VE/TAFE students to pay their fees in small instalments set up on their accounts on a direct debit system. This gives the student some breathing room. They will assist the student and help them come up with a better payment plan.
Each quick loan application will be judged on its individual merits and only approved if you meet all the criteria.
To apply for a payment plan the student will need to be:
- A domestic student and an Australian citizen
- The student must study a VE/TAFE course
- The student will need to provide their tax file number (TFN)
Victoria University – Student loan
- Loan Type Student loans
Benefits of Victoria University
- Get a student loan with a guarantor
- Flexible repayment options
Student loan calculator
Victoria University – Affordable student loans
The costs of a payment plan include the following:
- $35,00 registration/enrollment fee
- $33,00 will be charged for dishonouring a direct debit
The application must include the following:
- A statement that you have read all the terms and conditions associated with applying for a payment plan
- Your student ID
- Your personal details such as your full name
- Date of birth
- Contact number
- E-mail address
Once they have received this information you will be sent an email to register for a FACTS account within 5 business days. This e-mail will contain a unique code that you can use to register for your FACTS account.
The e-mail will provide details about your student loan application and contain a payment plan and schedule and your monthly instalments.
FACTS account management
Once you have registered for a FACTS account you can call for assistance at any time on: 1300 322 871
The self-service feature allows you to:
- Change your personal contact details
- Make extra payments
- Delay a payment that is scheduled for up to 5 days
- View your payment plan details such as your payment schedule, balance and the payments that you have made.
- View any messages that you have sent or received
Instalments and payment options
All payment plans must be finished by the end of November every year. The length of the payment plan will be determined by how many fortnights or months remain until its November. The student will need to pay the minimum instalment but will not be penalized if they pay more than the minimum instalment.
Never miss a payment
To make sure that you never miss a payment FACTS will set up a direct debit on your account that will automatically debit the agreed upon amount from your account on the agreed upon date.
The student’s responsibility is as follows:
- The student needs to make sure that there are enough funds available in their account
- If the student would like to make additional payments they can do so via their FACTS account
- The Victoria University will send an automated reminder when fees are due to remind students to have funds available.
Customer Reviews & Testimonials
I was worried at first about applying for a student loan at VU since I had no previous credit history, thankfully I was able to get a loan with the help of my guarantor - now I can easily afford ...
— Melbourne —
Needed help paying for my housing and couldn't afford yet another part-time job. Really glad I was able to get a student loan from Victoria University.
— Melbourne —
Super affordable application and enrolment fees - I would recommend to any student who needs a financial boost at varsity.
— Melbourne —
It was so quick and easy to apply for my student loan with UM, I had received my approval email in less than 2 days. I was very impressed.
— Melbourne —
Victoria University Contact
- 300 Flinders Street Melbourne Victoria Australia
- Get Directions
- PO Box 14428, Victoriatoria, 8001, Australia
- Monday 09:00 – 17:00
- Tuesday 09:00 – 17:00
- Wednesday 09:00 – 17:00
- Thursday 09:00 – 17:00
- Friday 09:00 – 17:00
- Saturday – Closed
- Sunday – Closed