2010 APPLICATION LONG TERM LOAN

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					                                 2010 APPLICATION
                                 LONG TERM LOAN


                                 IMPORTANT INFORMATION
         Applications must be submitted by appointment with a Financial Aid Advisor.
       Appointments can be made by telephone or in person (see contact details at the bottom of page).

Please record your appointment details here:
Date: ………………………………….
Time: ………………………………….
Advisor: ………………………………




Student Financial Aid
Office Location:         Parkville Campus
                         Ground Floor, Baldwin Spencer Building
                         Cnr Tin Alley & Union Road


Postal Address:          Ground Floor, Baldwin Spencer Building
                         University of Melbourne VIC 3010


Telephone:               (+61 3) 8344 6550
Fax:                     (+61 3) 8344 5624
Email:                   finaid-info@unimelb.edu.au
Website:                 www.services.unimelb.edu.au/finaid/




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LOAN APPLICATION PROCESS – Please read this section carefully


•   Complete this application and attach appropriate documentation - (Refer to Attachments Checklist)

•   Make an appointment with Student Financial Aid to submit your application.

•   Attend appointment with a Student Financial Aid Advisor. Your application will then be submitted to the

    Student Loan Fund Committee for consideration. (Applications close Thursday 12:00noon)

•   Contact our office after 12:00 noon Friday to be informed of the decision.



                 If loan is approved                                   If loan is not approved
•   Make an appointment to read over and sign loan       •   You can lodge a letter of appeal which will go to
    contracts.                                               the Student Loan Fund Committee
•   Contracts then go to your Guarantor for their
    approval and signature.                              •   Application will be reconsidered and you will be
•   If signed contracts are returned by 11:00am              advised of decision as soon as possible
    weekdays, funds (cheque) will usually be
    available the same day after 1:00pm.




COMPLETING THIS APPLICATION FORM


•   Loan applications must be completed in ink.

•   All sections of the loan application must be completed fully to be considered.

•   All relevant attachments must accompany this application form (refer to Attachments Checklist).

•   An appointment is required to submit your application and if approved a further appointment will be

    required for the signing of your loan contracts/agreement.

            A very important part of the loan application is the Annual Budget (pages 8 & 9)



     If you require further advice and/or assistance with this application, you may wish to

     schedule a telephone or in person appointment with a Student Financial Aid Advisor.

      PLEASE ENSURE that you have completed as much of the application as possible.




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ATTACHMENTS CHECKLIST


        A copy of your confirmed 2010 enrolment record.

       If you do not have a copy, this is free document available from your Student Centre at anytime.

        Evidence of any outstanding debts (e.g. Credit Card statement) if that is the purpose of this loan.

        Proof of Guarantor’s identity (passport, birth certificate, current drivers licence).

        Proof of Guarantor’s income or assets (recent pay slip, group certificate, letter from accountant, title

        deed of property, etc).

        Proof of Guarantor’s current address (current driver’s licence, recent utility bill, etc)

        Proof of Guarantor’s residency status (may be required in some cases) i.e. Copy of Passport and/or



PLUS the following may also be required:


        If you are under 25 year of age and not considered independent (similar to the guidelines followed by
        Centrelink), you must supply details of your parents or guardian’s income in the ‘parental income
        section' ( page 13 )


        If you are married or in a de-facto relationship, you must provide details of your partner’s
        income/assets (in your Annual Budget)


        A completed Travel Budget document (if applicable). This is available via the Student Financial Aid

       office or their website: www.services.unimelb.edu.au/finaid/




                            The University of Melbourne Privacy Policy
This information will be used in the assessment of your application for a student loan and the loan collection
process. Only members of the Students’ Loan Fund & Bursaries Committee, Student Financial Aid and
Student Loans Collections staff and, in the case of default, associates responsible for collection of the debt
may have access to the information. An individual has the right to gain access to their personal information
held by the University. For further information about The University of Melbourne’s Privacy Policy, please
refer to the following website: www.unimelb.edu.au/unisec/privacypolicy.htm
Privacy enquiries may be emailed to: privacy-officer@unimelb.edu.au


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                           Terms & Conditions of Student Loans
The Students' Loan Fund is a recycling fund designed to help as many students with financial problems as
possible. The amount available for loan each year is directly related to anticipated loan repayments
from past loans. So please remember this when it is your turn to pay.


ELIGIBILITY


All students enrolled in degree or diploma courses at the University of Melbourne are eligible to apply.
Loans are allocated primarily on a needs basis to students unlikely to be able to access alternative forms of
assistance (parental help, bank loans, etc).      Loan funds available for allocation each year are limited.
Priority is given to full-time students in the middle and later years of their courses. Loans are less likely for
part-time students. Loans are not usually approved for undergraduate students in the first semester of the
first year of their course. The maximum loan available in any one year is $4,000. Only in exceptional
circumstances will a second long-term loan be granted if a previous long-term loan has not been repaid. The
maximum total outstanding loans amount for a student is $5,000. Financial Aid Advisors are available (by
appointment) should a student wish to discuss their particular financial difficulties before applying.


PURPOSE OF LOANS


Basic Living and Study Costs
Student Loans are generally approved when students can demonstrate that a loan is needed to assist them
to complete the course successfully. Loans may be approved to cover course costs and general living
expenses, such as books/equipment, rent, bond, gas/electricity, medical/ dental and general living expenses.
Note: If a loan is approved for a computer it is unlikely that the maximum amount of $4000 will be granted.


Cars
Applications for car loans may be approved in exceptional circumstances. For example, students who
clearly cannot utilise public transport or are residing in an area not well serviced by public transport, and
ownership of a car appears essential.
Travel
If applying for a loan for travel purposes, applications must include an additional Travel Budget. Please ask
our reception staff for a copy of this additional document or download it from the Student Financial Aid
website www.services.unimelb.edu.au/finaid/ . Students should also be aware that financial assistance for
study related travel may also be available through individual Faculties, Melbourne Scholarships Office:
www.services.unimelb.edu.au/scholarships/, Melbourne Global Mobility: www.mobility.unimelb.edu.au.


Other Purposes
Loans for other purposes will be considered, particularly if they are course related, unexpected, and
seriously impacting on the student's financial situation.




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GUARANTOR


A guarantor is a person who undertakes (by signing a legal guarantee document) to repay the debt if the
borrower is unable to repay the amount. The guarantor accepts the obligation for repayment of any
outstanding amount in the event of non-payment by the borrower.
------------------------------------------------------------------------------------------------------------------------------------------------
In order to be considered for a long-term loan you must nominate a guarantor who is:
            •         Over 21 years ago

            •         A citizen or permanent resident of Australia (** see Exception below)

            •         Financially able to guarantee repayment of your loan, and
            •         In full-time employment, and/or owns significant assets (for example, a house)


        Who can be Guarantors                             Who cannot be Guarantors
        •       Parents                                   •   Your spouse or housemates
        •       Relatives                                 •   Current debtors with their own long term student loan
        •       Friends                                   •   Members of staff of The University of Melbourne or affiliated
                                                              colleges. (Unless applicant’s parent).
                                                          •   Students (from any university / institution)
                                                          •   Person/s who act as your referee/s on this loan application.


Note:       Proof of the Guarantor’s current annual income, and/or home ownership (particularly details of the
current equity in a property) will be required.


** Exceptions:            A loan application will still be considered if the nominated Guarantor is not a citizen or

permanent resident of Australia. However, if such an application is approved, it is important to note that the
repayment requirements are different.


REPAYMENTS


Australian Citizens and permanent residents of Australia
Generally, no repayments are required until the student either completes or withdraws from their current
course of study (including honours if applicable), or defers more than once. At the time of loan approval a
repayment plan is determined. The monthly instalment will depend on the amount of the loan. It is expected
that a $4,000 loan will be repaid over a 30 month period, and a $2,000 loan will be repaid over 18 months.
You can make early voluntary repayments any time you like. Variations to an agreed repayment plan
because of difficult or changed financial circumstances will be considered only in cases where documentary
evidence is supplied. (For example – proof of current Centrelink assistance and a current financial budget).




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Student and guarantor are not Australian citizens or permanent residents of Australia
It is recognised that international students who have been in Australia for only a short time may have
difficulties finding an Australian guarantor. In such cases an appropriate guarantor from the student's home
country will be considered. Repayment may commence immediately, and the loan must be fully repaid by the
agreed date prior to the completion (or discontinuation) of the current course.


Early Repayments
In some cases, the Committee may approve a loan on the condition that an early repayment date is set (for
example, by a date later in the current year, or payment in full by a date soon after completion of your
course).


INTEREST RATES


Loans are interest free until the initial agreed repayment date. It is possible to avoid interest altogether by
either repaying the loan in full by the agreed date or by paying each repayment instalment on time. Interest is
charged on the total amount of any overdue instalments. The University sets the rate of interest, which may
vary from year to year. You will be informed of the current interest rate at the time of application and you are
notified whenever the interest rate changes. Students may take leave of absence from their course for up to
12 months without interest being charged, however, after this period interest is charged until such time as
the student either resumes their course or discharges their debt.


OUTSTANDING FEES & STUDENT LOANS


Any debts to the University (such as short-term loans, Amenities & Services Fees, late enrolment fees etc)
will automatically be deducted from a long-term loan.


PERMISSION TO TRAVEL OVERSEAS


You must apply in writing to the Student Loans Fund and Bursaries Committee, and have the written
permission of your Guarantor, if you wish to travel overseas while you owe any money to the Student Loans
Fund. This is not required where a loan has been approved for travel purposes.


APPROVAL OF LOANS AND APPEALS


All applications are considered sympathetically, but loan funds are limited and it is not always possible to
give full approval to every loan application. In regard to the approval of loans, the decision of the Student
Loans Fund and Bursaries Committee is final. However, if your initial application is not approved, you do
have the right to provide additional information to the Committee, in writing, and to request a reconsideration
of this decision.




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                                  Long Term Loan Application 2010
                                       APPLICANT DETAILS
Personal Details
Title                   Mr                Ms              Mrs               Miss                Other________
Family Name

Given Names

Student Number

Age                                             Date of Birth (DD/MM/YY)

Marital Status          Single            Married        Other

Children            Number of Children:                           Ages of Children:

Contact Details
Term
Address
                                                                                        Postcode:
Permanent
Address
                                                                                        Postcode:
Telephone           Home:                                         Mobile:
University Email
Are you an: (please tick)

   Australian Citizen            Australian Permanent Residence              International Student
Course
Campus
Year of Course                                                   Expected Completion:       /        /
Enrolment Status        Full -time                                     Part-time


OFFICE USE ONLY
Submitted (Date):                                       Cheque No:
Assess Date:                                            Amount: ($)

   Approved                      Not Approved           Date of Cheque:

Amount: ($)                                             Guar Docs Sent:
Repay Date:                                                         Adjustments / Journal TFs
Authorisation:                                          ASF:
                                                        Course Fee:

   Merlin Checked                                       S/T Loan:

   Themis Checked                                       Fines/Other:



                                                                                                         7 of 15
                                  STUDENT LOANS HISTORY
                                          University of Melbourne

If you have you previously been granted a student loan at the University of Melbourne, please provide details
below.


 Year Loan Granted                               Amount ($)                       Has it been repaid?




If you do have a short-term loan outstanding, you must incorporate the amount owing into the total
amount you wish to borrow.


For example, if your request to borrow $2,500 is approved and you currently owe $250 on a short term loan,
you will receive a cheque of $2,250, as any outstanding debts to the University, will be automatically
deducted, including outstanding loans, Amenities & Services Fees, course fees, Late Enrolment Fees etc




                                                                                                         8 of 15
                                      LOAN REQUEST

What it the purpose of the loan?




Is it possible to borrow this amount from some other source (for example: your parents, a bank,
Melbourne University Credit Union etc)?




Why do you need the loan? Please summarise your general financial position.




                                                                                              9 of 15
                                       YOUR BUDGET FOR 2010
                                    Please complete this section carefully.
EXPENSES             (estimated and known expenses for period: 1 January – 31 December 2010)
                    You are required to include your spouse’s (or partner’s) and dependent’s expenditure (if applicable).

Weekly Expenses
                                                                                           It is not necessary to
Rent / Board / Mortgage Payment (circle)                     $                             include ‘cents’ – all
                                                                                           amounts should be
Bills (gas, electricity, telephone etc.)                     $                             rounded to the
Food (lunches, groceries, etc)                               $                             nearest dollar

Transport (public transport fare, petrol, parking)           $
Spending Money (clothing, entertainment etc)                 $
Commitments to dependents                                    $
Other Weekly expenses:                                       $
Total Weekly Expenses                                        $               X 52 =       $                   (A)
Annual Costs
Accommodation Related:
Residential College Fees (if applicable)                     $
                                                                                      It is not necessary to provide
Establishment Costs            -    Bond                     $                        establishment costs if you
                                                                                      are in the same residence as
                                    Furniture                $                        in 2010
                                    Connections              $
Other Accommodation Costs                                    $
                                                     Total Accommodation Costs            $                   (B)
Course Related:
Amenities & Services Fee                                     $
Course Fees or HECS up front                                 $
Course Materials                                             $
                                                      Total Course Related Costs          $                   (C)
Other Costs:
Transport Concession Card                                    $
Car Costs – Registration/Insurance etc                       $
Outstanding Debts – repayable in 2010
                                                                                           Only provide debt
                                                                                           amounts which must be
Credit Card                                                  $
                                                                                           repaid in 2010
Short Term University Loan                                   $
Other Due Loans                                              $
                                           Total Due Debts   $
Any other costs:                                             $

                                                                 Total Other Costs        $                   (D)

               Total Expenses for the year (A+B+C+D above)                                $                   (1)
                                                                                                         10 of 15
INCOME            (estimated and known income for period: 1 January – 31 December 2010)
                  You are required to include your spouse’s or partner’s income (if applicable)

Employment Income (Average weekly earnings)

January – February               $                    X 9 weeks =          $
March – November                 $                    X 39 weeks =         $
December                         $                    X 4 weeks =          $
                                                             Total Employment Income               $                       (E)
Other Weekly Income (Average weekly amount)
                                                                                               Type of Allowance?
Centrelink payments                                            $
                                                                                                ----------------------------
Scholarship Payments                                           $
Partner's Income                                               $
Parental Allowance                                             $
Other (please specify…………………………………)                            $

                            Total Other Weekly Income          $                        X 52       $                       (F)
Lump Sum (Annual Income)
Savings as at 1 January 2010                                   $
Parental Assistance                                            $
Other (please specify…………………………………)                            $
                                                             Total Lump Sum Income                 $                       (G)

                                Total Income for the year (E+F+G above)                          $                       (2)
------------------------------------------------------------------------------------------------------------------------
FINANCIAL NEED SUMMARY

                             Total Expenses for 2010           $                      (1)
                                Total Income for 2010          $                      (2)

                                            DEFICIT / SURPLUS FOR 2010               (2) – (1) =   $
                          AMOUNT OF LOAN REQUESTED (maximum is $4,000)                             $

If the loan is for the purchase of an item (such as a computer, car
or airfare), what is the total cost of the item?                                                   $
------------------------------------------------------------------------------------------------------------------------
STUDENT’S GENERAL FINANCIAL POSITION

         Assets                                                        Liabilities
 Property (present value)               $                          Outstanding Mortgage                   $
 Vehicle/s                              $                          Loans                                  $
 Shares                                 $                          Total Credit Card Debts                $
 Fixed Term Deposits                    $                          Other Debts                            $
 Other                                  $




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                                                  GUARANTOR
The University requires you to have a guarantor who will become responsible for your debt if you default on
repayment.     Guarantors CANNOT be students from any tertiary or TAFE institutions, your spouse or
housemate, either of your referee's or staff of the University of Melbourne or its affiliated institutions (unless
the applicant’s parent). A Guarantor must be over 21 and able to demonstrate that they are financially
secure (that is in full time employment and/or own their own property/significant assets.


The Guarantor will be required to:
    1. Supply the details as required below
    2. Submit all appropriate supporting documentation as specified under the “Attachments Checklist” on
         page 3 of this document
    3. Once the loan is approved they must also counter sign your loan contract and a separate legal
         guarantee document in the presence of an approved signatory.


If the Student Loans Fund & Bursaries Committee decide that further evidence is required, your
proposed guarantor will be provided with a Guarantor's Financial Qualifications form to complete.
(Note - If the proposed guarantor is deemed unsuitable the Student Loans Fund & Bursaries Committee may
request an alternate guarantor.)
                                        GUARANTOR’S DETAILS
Title                   Mr                  Ms                 Mrs               Miss               Other________
Family Name
Given Names
Relationship to Applicant:

Residential
                     Town/City:                                                         Postcode:
Address
                        If Guarantor is renting, a second permanent contact address must be provided
Permanent
Address              Town/City:                                                         Postcode:
Telephone            Home/Mobile                                     Business
Occupation
Employer
Employment
                        Permanent Full-time               Permanent Part-time             Temporary
Status
Residency
                        Australian Citizen or Permanent Resident             Other Status (eg. Overseas resident)
Status
                     Self funded (including superannuation)
                     Receiving pension
If Retired *
                     Other* (specify)


* If Part-time, Temporary, Retired or other – evidence of assets owned will be required.

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                                             REFEREES
This section requires the details of four (4) individual referees, each with a different
address. They cannot be students, University of Melbourne staff, spouses/partners or
anyone residing at the same address as the Guarantor or Applicant.
                        Referees are not contacted during this application process.


Referees for Guarantor
The Guarantor must nominate TWO persons who are likely to keep in contact with them on a long-term
basis. Referees must reside at a different address to the guarantor. The referees must supply a current
residential (not a business or PO Box) address.


                                      GUARANTOR’S REFEREE #1
Mr / Ms/ Mrs / Miss /Other    Full Name:
Residential Address:
City/Town:                                                           Postcode:
Home Telephone:                                    Mobile:


                                      GUARANTOR’S REFEREE #2
Mr / Ms/ Mrs / Miss /Other    Full Name:
Residential Address:
City/Town:                                                           Postcode:
Home Telephone:                                    Mobile:




Referees for Applicant
The applicant must nominate TWO referees who will continue to be in contact with you on a long-term basis.
Referees must reside at a different address to you and must supply a current residential (not a
business or PO Box) address.
                                      APPLICANT’S REFEREE #1
Mr / Ms/ Mrs / Miss /Other    Full Name:
Residential Address:
City/Town:                                                           Postcode:
Home Telephone:                                    Mobile:


                                      APPLICANT’S REFEREE #2
Mr / Ms/ Mrs / Miss /Other    Full Name:
Residential Address:
City/Town:                                                           Postcode:
Home Telephone:                                    Mobile:



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        STATEMENT OF PARENTAL or GUARDIAN INCOME
     If the applicant is less than 25 years of age, the following statement needs to be completed


This section can be filled in by the applicant if the parent/guardian is unable to do so. The applicant should
sign at the bottom as the declarant. We will also accept faxed copies (+61 3) 8344 5624.


If you have not completed this section, please explain why?
______________________________________________________________________________________
______________________________________________________________________________________


Statement of Income
I_____________________________________________________________________________________
of (address)_____________________________________________________________________________
in the State of:_______________________________________ HEREBY DECLARE THAT:


I am the father / mother / Guardian of: ________________________________________________________
Who is an applicant for financial assistance from the University of Melbourne.


My taxable income for the last financial year ended 30 June was: $_________________________________
My spouse’s taxable income for the last financial year ended 30 June was: $_________________________


Please state the reason(s) if details of spouse income not provided:
______________________________________________________________________________________
______________________________________________________________________________________


Please give details of dependent children other than the applicant:
             Name/s                                   Age                           Education Institute




My son/daughter/ ward will live at / away from home while attending University because:
______________________________________________________________________________________
______________________________________________________________________________________


Please list any reasons why you cannot provide financial assistance to the applicant for the purposes of this
loan: __________________________________________________________________________________
______________________________________________________________________________________
I solemnly declare that the information provided in this statement is to the best of my knowledge true

and accurate.


X Signature of Declarant:_________________________________                 Date: ____________________


                                                                                                       14 of 15
                                 DECLARATION BY STUDENT APPLICANT
I declare the information that I have provided to be true and accurate.                                              I acknowledge that false and
misleading information may result in forfeiture of all rights and privileges associated with access to Student
Loans and may lead to debt recovery practices being implemented. I also acknowledge that the loan, upon
approval, will be spent in good faith and in accordance with my statement of financial need.



X Student Signature:_________________________________                                                         Date: ____________________



                                                                     IMPORTANT
                 If you (or your guarantor) have arranged for any of the supporting documents
          to be sent directly to the Financial Aid Office by fax, mail or email, you MUST ENSURE
                        that your name and student number are clearly written on each page.
                                              Failure to do so my delay your application.




How did you hear about Student Financial Aid and/or student loans?

    Student Diary

    Friends/ Family told me

    Via faculty (eg. Staff, email or other information)

    Saw a poster

    Saw an ad in Student Media (Farrago, Eyeball, Gradflash, etc)

    University web site

    Other...............................................................................................................




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Description: 2010 APPLICATION LONG TERM LOAN