ASWU Student Help Website

ASWU Finance

Study support may concern you most, and you probably sooner or later will be an expert. How to make ends meet with just student aid as income is not easy. 

Study assistance in Brief

Central Student Grants Committee  is below the Department of Education, and is the agency that administers student financial aid. You can get financial aid if you study at university, and in some other post-secondary education (if you are unsure if your education is student aid eligibility so it appears likely in the description of the course). Student financial aid consists of a grant and a loan, of which you will repay it later. 

Application

You are applying to colleges or universities through the National Agency for Higher Education (VHS), and filled out that you want to study, will automatically receive an application form when you are accepted. If you had a student during the previous semester, and then filled out an application for you to continue studying.

You can now also apply for student aid through our website, via a so-called E-application. You can also obtain an application form directly from the us.

The normal aid if you study 100 percent of the time at college amounted to a significant amoount. You can get study aid during 240 weeks, or 12 semesters. Study assistance will be lower if you are studying less than 100 percent, but you must study at least half time to receive student aid. 

Additional payments, supplementary loans and additional loans

If you have custody of children under 18, you can get additional funding. If you are two guardians who both studies, then only one of you receive the supplement. The supplementary premium will vary depending on how many children you have. For example if you are studying full time and have a child under 18, you can get 123 per week in additional premium, and if you have four children and is studying full-time, you can get 282 per week additional aid.

If you have at least 25 years, studying full time in the country and had an income of at least $7,500  during the twelve months prior to study entry, so you are able to apply for additional loans. Additional loan of up to $150 in four weeks if you are studying full time and paid for a maximum period of 120 weeks.

You can also apply for additional loans, if the training involves some extra expenses such as travel, tuition fees, musical instruments and more. A higher grant (but with the same total student aid), you can get at the college level if you join a special needs education.

Conditions of study: Income

To receive student aid, you have an income below a certain amount. The grant and loan shall be reduced proportionately if you have earned more than the exempt amount. Exempt amount will vary depending on how many weeks you study: the more you study, the lower the income ceiling.

Exempt amount given per half calendar year. At universities and colleges, it is common that you read the 17 weeks in the fall and 23 weeks in the spring. If you read the full-time for such a distribution is exempt amount, $1375 before tax in the first half (1 January-30 June), and $1590 and the other half of the year (1 July-31 December). If you study less than full time as the exempt amount is higher: for example, you earn $7,440  in the spring (calculated as 23 weeks) if you are studying part time.

If you just study in, say, 10 weeks, the exempt amount is higher: $7,500  before tax. Go to our other website for a more detailed chart of the exempt amount.

If you have received too much student aid you will be liable for repayment. Of course it is also important that you notify us if you conditions change.

Conditions of study: Study

As a graduate, you get further study if you are achieving learning outcomes, which indicate that your total study time does not become more extended by more than 25 percent relative to the curriculum.

If you do not meet the demands of academic performance, you may be re-qualified when you reached up to claim the last period. We can sometimes take account of personal reasons that may have affected the study results (eg disease).

Study abroad and Home Exchange Programme

If you decide to study abroad and use a echange de maison ,  there are some differences in the rules. You must, for example, study for at least 13 weeks, and usually the studies must be full time. 

Repayment

The current system of reimbursement (ie loans taken after 30 June 2001) deals with student loans as a form of annuity. This means that the repayment amount never decreases during the time you pay back, even if the interest rate and repayment rate is changed (the interest portion decreases over time, and the amortization amount increases). In the case of student loans will increase rather installment, with a counting rate of 2 percent.

You start paying back only six months after you had for students. The repayment period may be the longest 25 years and the number of (fewer) years remaining until one is 60 years. The loan is written off at the beginning of the year you turn 68th If you have a smaller debt repayment period may be shorter than 25 years. A loan for one year’s study paid back in about nine years while a loan for two years and must be repaid over about 19 years.

The amount you pay each year is calculated from the size of your debt, the interest rate for the year (2.1 per cent in 2008), and the number Year of payment. In addition, increasing the annual amount by two percent each year, regardless of the interest and regardless of your income.

If you take up studies again, after you have started repaying your loans, you can temporarily avoid having to pay back. However, there may be a risk that the remaining annual amount is increased thereby, but you can apply for a new repayment terms so that the repayment plan to be recalculated.