The Iglu Guide | Blog
How to pay for your student accommodation
Heading to university can be an expensive time, and it’s not always easy to balance the budget. Whichever type of student accommodation you choose, it helps to understand all the costs up front to prevent any nasty surprises at the end. Here’s how to make it all work.
Budget for your student accommodation
All good things start with a budget. When you’re a student, every dollar matters and the more visibility you have on your finances, the better informed you will be. Breaking down your income and understanding your outgoings is the first step to achieving financial stability. Once you have decided on your student accommodation, use a money planner tool to work out your primary expenses and this will help you understand how much there will be left over every month. Plan for rent, groceries, utilities, transport, phone, wi-fi and entertainment. Don’t forget to include textbooks, study equipment and stationery. Once you have the full picture, you can plan accordingly.
Boosting the budget
If the numbers aren’t quite adding up, there are a few ways to fill in the gaps.
Student jobs
As long as it doesn’t affect your study time, getting a student job is a great way to earn some extra cash while at university. International students are usually limited to 40 hours/fortnight, but this is temporarily relaxed until June 2023. You might even be able to take a career related opportunity and give your resumé a boost along the way.
- Keep it flexible so you can work around your study commitments
- Don’t compromise on your workload
- Consider the hospitality industry, retail, childcare or tutoring – all of which have flexible hours that won’t interfere with your academic requirements.
- Iglu are always looking for enthusiastic individuals to join the team!
Financial help for students
Check with your provider for any scholarships or grants that may be available to you for your specific course. International students are usually required to pay fees upfront. If this is going to be problematic, talk to your provider about a possible payment plan. At Iglu, we want everyone to have the opportunity to experience the best student living available. Our regional scholarship is designed to offer significant rental assistance to regional students starting out in Melbourne, Sydney or Brisbane. There are limited places available with no application deadline.
Government grants
Australian and New Zealand citizens are all eligible for a HECS-HELP government loan. These loans are designed to help with course study payments and must be repaid once your earnings exceed a certain level. International student are not eligible for HECS-HELP, but may be eligible for other grants and bursaries . Applications are usually made directly to the provider.
Concessions
Australian students qualify for travel concession and health cards, allowing access to essential services at a significantly reduced cost. Some international students are also eligible for transport concessions . Each state will issue a different concession card, but they all facilitate access to cheaper healthcare and medication. Keep your card safe as proof of your student status.
