We've all felt a little bit of a pinch to the pocket during such crazy economic times, and we're here to help.
As a student studying with JMC Academy, we are committed to helping you along the way to success in the creative industry and in recent, financial support options have been increasing to allow for greater assistance.
We've decided to share all the resources and content available to you right now in this Financial Support Rundown! We encourage you all to check out which option is the most suitable for you and to take a further look at all options available.
HE Student Loan Tax Suspension
The Independent Tertiary Education Council Australia (ITECA) had a little chat with Parliament about supporting students at Independent Institutions and as a result, the Australian Government has suspended the 25% FEE-HELP loan fee into 2021 incurred by students who are borrowing to fund their studies with independent higher education providers.
As a student of JMC Academy, you will become aware that all of our programs are eligible for FEE-HELP, a Commonwealth loan given to eligible fee-paying students to help pay for part or all of their tuition fees, so this suspension will be music to your ears.
Domestic Student Government Assistance
The Australian Government for some time has had two assistance packages in place for full-time students, Youth Allowance and AUStudy financial help.
If you are 24 years old or younger and are a full-time student, you could be eligible for Youth Allowance. In order to receive this allowance, you will first have to satisfy Australian residence rules, income tests and be enrolled in an approved course (tick). You may stay on Youth Allowance after you turn 25 or until you finish your course with us. To learn more about applying for this assistance, click here.
For our mature aged students, if you are 25 years or older studying full time, you could be eligible for AUStudy assistance. The same rules apply, you'll have to satisfy both Australian residence rules and an income test once you've enrolled into our approved courses. To learn more about claiming AUStudy Assistance, click here.
For our Aboriginal and Torres Strait Islander students, you may be eligible for the Government's ABStudy financial support. This allowance is a little different in that it can help with your study costs, housing and living expenses and travel if you are studying away from home. To learn more about starting this application, click here.
If you are a student who's eligible for any of the three previous options, you may also be eligible for a Student Start-Up Loan. Up to twice a year under this Student Start-Up, you can receive a $1,094 loan to help you out during your time studying. No need to worry about this loan being taxed either because this is a tax-free loan that does not need to be declared as income to the ATO. Once you start earning a certain amount of income, you can start paying this loan back, to apply click here.
JobSeeker Payment Scheme
Over the last few months, you've probably heard the terms JobSeeker and JobKeeper threw around since COVID-19 started impacting income opportunities. If you are 22 years old or above who's income is under the acceptable Government threshold, you have the opportunity to apply for the JobSeeker payment. This payment is also to assist those who become sick or injured and can't complete their usual work or study for a period of time. JobKeeper payment on the other hand is reserved for your employer.
Depending on your individual situation (click here to check out all situation packages), the Government will pay you a figure every two weeks under JobSeeker. Once you've created a MyGov account and linked it to Centrelink, you'll be able to start the application process, click here to find out how.
VIC International Student Grants
The Victorian Government has begun encouraging international students studying with independent tertiary education providers (just like us) in Victoria and affected by the COVID-19 crisis to continue to apply for support through Study Melbourne.
The International Student Emergency Relief Fund was opened in May to begin supporting international students in Victoria who are facing tough times through the loss of employment as a result of the COVID-19. To begin an application or learn a bit more about the fund, click here.
We understand that this time can be difficult for some, but we want to remind you that the current situation is only temporary, we are always here for you and we can't wait to see you back on campus again when the time comes.
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