Scholarships, bursaries and student loans are just some of the ways you can fund a masters degree and graduate study in Australia. But which option is right for you?
In this explainer you’ll learn about the various funding options, how they might help you pay for university and tuition fees, and how to take the first step in applying for financial support.
Available to: All applicants and current students.
You could be eligible for one of over 700 scholarships, bursaries and prizes on offer at the University of Melbourne. Our scholarships aren’t just for high achievers - we also recognise individual circumstances, your interests and ambitions.
Whether you’re studying engineering or agriculture, there are scholarships available across all areas of study. There are also bursaries available to support accommodation costs for students relocating for study.
I had been living outside of Australia for a while now, and I was looking for an opportunity to take what I had learned and apply it back to the Australian context. Westpac Future Leaders Scholarship was the perfect opportunity, providing generous funding, international exposure, and the chance to connect with an amazing, like-minded cohort of individuals (now friends) across Australia.
LenahWestpac Future Leaders Scholarship recipient
Available to: Domestic students experiencing disadvantaged circumstances.
Graduate Access Melbourne supports students from all backgrounds to enter graduate study, including Indigenous Australians, those with a disability or chronic medical condition, difficult personal circumstances, or coming from rural and isolated areas.
There are three ways our Graduate Access Melbourne scheme can lend a hand:
Check your eligibility and supporting documentation you may need to provide on the Graduate Access Melbourne page. Then, apply during your course application.
Available to: People pursuing study to upskill in their current career.
If you’re undertaking graduate study to improve your skills and knowledge in your current career, your employer may offer to pay some or all your tuition costs.
Have a conversation with your employer. Professional development plan reviews are often a good time to discuss graduate study as an opportunity to support your skill development. Here’s some tips to help prepare:
Available to: People pursuing study to upskill in their current career.
Graduate study can help you take on new challenges and advance in your career. This means you may be able to claim self-education expenses in your tax return.
Find out if you’re eligible through the Australian Tax Office.
Available to: People with prior study experience or professionals with work experience.
The skills you’ve gained from previous study or from your career might be recognised as advanced standing (you might know this as recognition of prior learning or credit). If advanced standing is awarded, you will complete fewer units of study. This means the length of your degree and the cost of your tuition fees is reduced.
For graduate study, submit your advanced standing application at the same time as your course application. Find detailed steps on the advanced standing page.
If you're a domestic student you might have used HECS-HELP or FEE-HELP to fund your undergraduate study. These loans are also available for graduate study if you have not reached your borrowing limit. Find out more on the how much does it cost to study a masters in Australia? page.
Available to: International students.
International students may be eligible for a loan or grant to support with living and study costs. This financial assistance is typically provided through government and private programs in your home country.
How to get started
Available to: Students currently enrolled at the University of Melbourne.
If you’re experiencing financial difficulty and need help paying for study-related expenses, such as texts, or rent and bills, a University of Melbourne student loan can help. We offer short-term and long-term interest free loans to both domestic and international students. Visit the student loans page to apply.
Feel prepared to make your move and pursue further study.