Master of Actuarial Science
- CRICOS Code: 0101265
Fees & scholarships
Your fees explained
Note: In previous intakes, a University of Melbourne equivalent 80 average weighted mark has been competitive for a Commonwealth Supported Place. Domestic applicants with a University of Melbourne equivalent weighted average mark between 75-79 will be in the pool for consideration of a Melbourne Business School 25%-50% fee remission Academic Merit scholarship.
International applicants with a University of Melbourne equivalent weighted average mark of 80+ will be in the pool for consideration of a Melbourne Business School 25%-50% fee remission Academic Merit scholarship.
Academic Merit scholarships will be awarded approximately in December and June each year.
Commonwealth Supported Place (CSP)
If you are enrolled in a Commonwealth Supported Place for your graduate course, your tuition fees are subsidised by the Australian Government. You’ll still need to pay a student contribution amount. This fee is organised in bands based on the discipline area of the subjects that you take, not the course you are studying. The discipline fees are set each year by the Australian Government.
You can pay your student contribution amount to the University when you enrol (upfront), or you can defer this cost through the Australian Government’s Higher Education Loan Program (HECS-HELP) if you’re eligible.
HECS-HELP is the Australian Government’s Higher Education Loan Program. It enables you to borrow the amount of your student contribution and then pay that loan back once you are in the workforce and earning at a specified level. A HECS-HELP loan is not means tested. HECS-HELP is available to eligible Australian citizens and permanent humanitarian visa holders who are enrolled in a CSP.
Australian Fee Places
When you apply, you will automatically be considered for an Australian fee place if you meet course entry requirements. You’ll pay tuition fees for each year that you are enrolled, fees may be adjusted each year.
Tuition fees are calculated according to your course and study load each semester. You can defer payment of your fees via the Australian Government’s FEE-HELP loan scheme if you are eligible. If your course is relevant to your current employment, you may be able to claim fees as a work-related tax deduction.
FEE-HELP can cover all or part of your tuition fees. The Australian Government pays the amount of the loan direct to the University. It enables you to borrow the amount of your tuition fees and then pay that loan back once you are in the workforce and earning at a specified level or you can make voluntary repayments to the ATO at any time.
FEE-HELP is not means tested and there is no loan fee for graduate study. If you already have a HECS-HELP loan from your undergraduate studies, you can still access a FEE-HELP loan. No interest is charged on your FEE-HELP loan, however, it is indexed each year with the Consumer Price Index (CPI) in line with the cost of living.
The Government’s Study Assist website provides more information about Australian fee places, Commonwealth Supported Place and HELP Loans.
Other financial assistance
The University's Student Financial Aid Service can provide you with advice and information on student loans and bursaries/grants, cost of living, budgeting and tax advice.
We have recently expanded the number of scholarships available to support graduate students who want to take up study with us in 2022. When applying for the Master of Actuarial Science you’ll automatically be considered for a number of domestic or international student scholarships. Find out what you may be eligible for.