Student Start-up Loan (1 Viewer)

[shaniqua1]

I got this email from centrelink. Can someone make meaning of this for me? I don't know what it's talking about
--

On 1 January 2016, the Student Start-up Loan replaced the Student Start-up Scholarship.

If you are eligible for Youth Allowance (student), you can claim a Student Start-up Loan after your payment has been granted. This loan will help you with the up-front costs of your study.

You can apply for a Student Start-up Loan by going to the myGov website and simply log on to access your Centrelink online account. If you do not have a myGov account, creating one is quick and easy and you can link it to your Centrelink online account.

You must repay this loan to the Australian Taxation Office when your income exceeds the Higher Education Loan Programme (HELP) repayment threshold and after you have repaid any HELP loans you owe.

 

[turntaker]

you can get $1000 per semester from the govt. but you have to pay it back after you get a job.
Basically adds to your hecs debt.

 

[shaniqua1]

Would you recommend it?

 

[RecklessRick]

Would you recommend it?

Do you need it?

 

[turntaker]

Would you recommend it?

if you need it, take it.

 

[gizdonk2]

Take it and put it in a high interest bank account. you will actually earn a bit of money this way as you only pay 2% on HECS.