Learn And Earn

Sydney Morning Herald

Friday February 9, 2007

Margot Date

It pays not to overcommit to your job, writes Margot Date.

A study by the Department of Education, Science and Training found 55 per cent of first-year university students are also in paid employment, compared with 47 per cent in 1994.

Malcolm McKenzie, manager of UTS Careers Service, says students' choice of job depends on their circumstances. If students need cash in a hurry to pay bills

McKenzie advises them to do any sort of casual work to meet that immediate need. If the work is to meet ongoing costs of living and studying, it is better to find a job that will help them after graduation. If, for example, an accounting student had a choice between working at a fast-food chain or an accounting firm, they should take the job with the accountants.

"When we talk to employers what they look for is good academic results, involvement in extracurricular activities and relevant work experience," he says.

Sandie Rudman, development and research officer with Macquarie University's Transition Program, says the pitfall for many first-year students is underestimating the time they need to study.

She says students should use a weekly planner and a semester planner from the start and write in lectures, tutorials and private study time. Only then will they see how much time they have to work.

"We say seven to nine hours a week for each subject, [about] three hours for classes and another four to five hours of reading. In some weeks that will look like way too much, but they should allow themselves seven to nine hours."

The UTS careers service office links employers and students. Job vacancies in everything from sales, restaurants, child minding to website design are listed by employers for students looking for work while studying.

McKenzie says whatever job they have, students must not do so much that their studies suffer. He says it is quite common for students at UTS to study full-time for two years, then go part-time and combine work and study.

GOVERNMENT HELP

There is also government assistance for students through the Higher Education Loan Program.

Citizens of Australia and New Zealand and holders of Australian permanent-

resident visas are considered domestic students and can enrol in a Commonwealth-supported place or a domestic fee-paying course.

Commonwealth-supported students pay a contribution towards the cost of their education - the student contribution - and the Federal Government pays the rest. There are three types of loans: HECS-HELP, FEE-HELP and OS-HELP. According to the Federal Government's Going to Uni website, HECS-HELP is for Commonwealth-supported students to cover all or part of their tuition costs.

Student contributions last year were up to $3920 for education and nursing (national priorities); up to $4899 for Band 1 (humanities, arts, behavioural science, social studies, foreign languages, visual and performing arts); up to $6979 for Band 2 (accounting, commerce, administration, economics, mathematics, statistics, computing, built environment, health, engineering, science, surveying, agriculture); and up to $8170 for Band 3 (law, dentistry, medicine, veterinary science).

There are 20 per cent discounts available for students who pay the fees up front or make partial payments of $500 or more.

HELP loans are repaid once a student's income exceeds a minimum threshold, which is $38,148 this financial year. Repayments are made through income tax and there is a 10 per cent bonus on voluntary repayments of $500 or more. HELP debts are indexed annually on June 1 in line with the Consumer Price Index.

There are private scholarships but these are usually tightly contested and limited in number. Commonwealth Learning Scholarships are funded by the Federal Government and administered by individual higher-education facilities.

FEE-HELP loans are for domestic fee-paying students and cover the cost of tuition. Fees vary between universities. FEE-HELP loans cover up to the full amount of tuition fees, with students able to borrow up to $80,000 (or $100,000 for medicine, dentistry or veterinary science students).

OS-HELP can help Commonwealth-supported students undertake some of their study overseas.

Forms for all loans are available from higher-education providers and students must complete the original form.

Some universities, such as Macquarie University, offer student loans to help students whose studies are placed in jeopardy by "genuine financial hardship". The assistance is to help students pay for accommodation, living expenses, travel and transport and basic support of dependants. They can't be used to pay fees.

Once a student has a Centrelink customer reference number, they can apply online at www.centrelink.gov.au for Austudy or the Student Youth Allowance. Austudy provides up to $348.10 a fortnight for a single person, subject to an income test and an assets test.

BANK LOANS

Commercial loans are available for students. National Australia Bank has a

deferred-repayment loan, which has no application fee and the option of deferring payments for up to five years.

Students can borrow between $500 and $20,000. The loan must be paid back at the end of the deferral period and the term of the loan is then three years. Parents or guardians may be asked to be a guarantor. Applicants have to provide evidence of their enrolment and other identification to the bank.

The Commonwealth Bank has student loans of up to $5000 for "study-

related purposes". Repayments are deferred until after graduation. There is

a fixed interest rate, which is currently 12.2 per cent.

www.goingtouni.gov.au

www.backingaustraliasfuture.gov.au

www.uac.edu.au/uac/costs.html

© 2007 Sydney Morning Herald

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