Global Professional School

Funding options

Spending a year or even just a term abroad can be an incredibly enriching experience and one that you will remember throughout your life, but you need to think about how you are going to pay for it before committing yourself. There are different options open to you depending on where you intend to go and how long you will be staying for.


Our exchange arrangements with partner universities all over the world mean that as a Federation University exchange student you won’t pay additional tuition fees with any of these institutions. With our Exchange partners, all you pay are your normal HECS or Federation University tuition fees for the time you are away.

Study Abroad

If you plan to study overseas with a university that is not a Federation University Exchange partner, you’ll pay fees directly to that university, in place of your Federation University tuition fees. You should check to see if you’re eligible for any scholarships or grants to help you.

New Colombo Plan (NCP)

The NCP Mobility Program is a signature initiative of the Australian Government that provides funding to Australian universities and consortia to support Australian undergraduate students studying and undertaking internships and short-term study tours across the Indo-Pacific region.

If you are looking at a New Colombo Plan short term study tour or placement, or a short-term summer or winter program then there may be additional government or scholarship funding available.


OS-HELP is a generous Australian Government Loan scheme for eligible students to help pay for their overseas program. OS-HELP can be used for a range of expenses such as program fees, airfare, accommodation and other travel or study expenses.


Australian citizens who are currently eligible for or receiving any form of Centrelink payment should be eligible to continue receiving this form of Australian Government financial assistance if they leave Australia temporarily for a study experience, if the study is part of their full-time Australian course.

Living and travel costs

Your living and travel costs aren’t included in your fees, so you’ll need to budget and pay for them. The cost of living varies from country-to-country, and also depends on the length of time you plan to be away. Make sure you budget to have enough money to cover you for things like your return airfare, travel insurance, visas, accommodation, food, textbooks, sightseeing, entertainment and any extra travel you plan to do.

Living and travel costs range from as little as $2000 in total for short-term international study programs, up to $1800 per month for full semester exchanges (depending on how frugal or spendthrift you wish to be). The Exchange University factsheets will give you an idea of living costs in each of our exchange partner cities. These figures are an indication only and you should do your own investigations into the cost of living in your chosen location.

Some partner universities also require you to pay for health insurance or orientation activities, so be aware that extra costs like these might pop up.

The Student Study Abroad and Exchange Office can provide you with a budget worksheet (pdf, 119kb) which you should take advantage of when planning your overseas experience. The team have also developed a living and travel cost (pdf, 321kb) document to assist with this.

To make sure your experience is everything you want it to be think about the exchange rate in your host country, how much living costs are and make a plan to save money right up until you depart.

OS-HELP Loan Program

OS-HELP is a loan program administered by the Department of Education that can provide financial assistance to eligible Commonwealth-supported students wishing to undertake part of their study overseas. Your OS-HELP is added to your accumulated HECS-HELP debt.

In 2021, the maximum you can borrow for a six-month study period is:

  • $7,037 if you do not study in Asia
  • $8,444 if you study in Asia; plus, an extra $1,123 if you do an approved Asian language study in preparation for your study in Asia (and meet the eligibility requirements.

for a maximum of two study periods.

Am I eligible?

The primary criteria for eligibility are:

  • must be an Australian citizen, permanent humanitarian visa holder or a New Zealand Special Category Visa holder who meets the long-term residency requirements (scroll down to information box for more details).
  • must meet the following criteria in relation to a single course of study (degree program, e.g. Bachelor of Arts) towards which they will be studying overseas (including approved double degrees and combined degrees as listed in Degree Finder):
  • successful completion of 1 EFTSL of the program (24 University of Adelaide units, which must be shown as passed with results posted before payment will be made)
  • 0.125 EFTSL (3 units) remaining in the program on return from overseas
  • receiving credit or recognition towards the program for full-time studies undertaken overseas (in the case of unit-bearing semester-length programs, to an equivalent of at least 9 units per semester, for other programs "full time" is determined on a case-by-case basis)
  • in a Commonwealth supported place
  • must not have received more than one OS-HELP loan in a previous study period (you may only receive two OS-HELP loans in your lifetime)
  • must not have received another OS-HELP loan in the same six-month study period (counted from the Commencement Date of the first loan)
  • must meet all of the above criteria prior to the end date of the overseas program.

For more information about OS-HELP, please visit the Australian Government's OS-HELP page

Selection criteria

The total funds made available by the Department of Education and Training for OS-HELP loans are limited each year, so loans may not be available to all students who apply. If there are insufficient loans for all eligible applicants, Federation University will select students to receive loans applying one or more of the following criteria:

  • Loans may be awarded to students with the highest GPAs
  • Loans may be declined to students who are receiving scholarships, grants or other forms of financial assistance towards their overseas study
  • Preference may be granted to students who have not previously received an OS-HELP loan
  • Preference may be given to students who have previously applied and been assessed as eligible but could not be granted a loan previously because insufficient funds were available.

Please refer to the OS-HELP Student Eligibility Requirements (pdf, 78kb) for additional information.

How do I apply?

To apply for an OS-HELP loan please complete the Application form (pdf, 245kb) and return it to

For further information about OS-HELP loans please email or refer to the Study Assist website.

New Colombo Plan

The New Colombo Plan is a signature initiative of the Australian Government which aims to lift knowledge of the Indo-Pacific in Australia by supporting Australian undergraduates to participate in semester-based or short-term study, internships, mentorships, practicums and research in 40 host locations across the Indo-Pacific region..

Under the New Colombo Plan there are two types of programs: The Mobility Program and the Scholarship program.

Mobility program

The New Colombo Plan Mobility program is for undergraduate students to undertake semester or short-term study in the Indo-Pacific region.

FedUni currently has grants of $7000 available for students to undertake a semester long exchange program at Pukyong National University in the Republic of Korea (South Korea), where students can enrol in courses taught in English.

To express your interest in studying in South Korea with a New Colombo Plan semester exchange grant please email

Grants for short-term study, study tours, research and overseas placements of up to $3,000 may be also be available. Please refer to the where can I go? NCP short term projects for a list of locations that you may be eligible to participate in or contact your Program Coordinator or the contact our Student Mobility Office at

Federation Business School (FBS) students can also refer to the Faculty's New Colombo Plan website for information on projects that may be available to you.

Scholarship program

The New Colombo Plan Scholarships are designed to support Australian students with overseas study in the Indo-Pacific region, and depending on the successful student's overseas study program can be granted up to $20,000 to cover tuition fees along with additional funds to assist with travel, living expenses and language support.

To apply for a New Colombo Plan Scholarship, students must firstly be nominated by their home University. It is normal for the Federation University Dean of International to invite high achieving students to be nominated for this Scholarship. Nominated students are then invited to apply for a Scholarship by Department of Foreign Affairs and Trade (DFAT).

Nominations for the 2022 round of New Colombo Plan Scholarships close in July. If you would like to be considered for nomination, please email no later than the 8th of July.

Eligibility for New Colombo Plan Grants

To be eligible for consideration of one of the Grants detailed above, students will:

  1. Have met all the required eligibility criteria for participation in exchange, study abroad, short faculty program or study tours as a for-credit student.
  2. Have been successfully approved for the project by the appropriate Federation School after submitting an Expression of Interest (EOI).
  3. Be aged between 18-28 (there can be exceptions to this requirement)
  4. Be an Australian Citizen*
  5. Be an undergraduate student
  6. Have not previously received a New Colombo Plan Short-Term Grant and/or a New Colombo Plan Semester grant

*Students cannot receive a Student Grant to undertake a Mobility Project in a Host Location in which they have dual citizenship or residency rights, or in which they have previously been a citizen or permanent resident.

For further information on the New Colombo Plan please  see the Australian Government New Colombo Plan website contact the Student Mobility Office at

Scholarship opportunities


It’s possible to hold more than one scholarship, bursary or grant at a time, so checking out all of the funding opportunities available to you is a good idea.

Baden Wurttemberg Scholarships

Students with an above-average academic record interested in study at the University of Tuebingen or University of Heidelberg. Note most courses require a good command of German, but several English programs are offered as well.

Scholarship applications are due in February and September

for more information visit The Baden-Württemberg-Stipendium website.

Westpac Asian Exchange Scholarship

The Westpac Asian Exchange Scholarship is valued at up to $12,000. It supports Australian or permanent resident undergraduates with an interest in Asia to spend up to two semesters studying overseas (starting in Semester 2) at one of the following leading universities:

Beijing: Tsinghua University, Peking University, Renmin University

Shanghai: Shanghai Jiao Tong University, Fudan University

Hong Kong: The Chinese University of Hong Kong, University of Hong Kong

Singapore: National University of Singapore, Singapore Management University, Nanyang Technological University.

Westpac will be awarding up to 40 Westpac Asian Exchange Scholarships in Semester 2, 2021. Applications are open until 6pm AEDT, 8 January 2021. Visit the Westpac Asian Exchange Scholarship website for more information.

Fulbright Scholarship

The largest US international exchange program offering opportunities for students, scholars and professionals to undertake international graduate study, advanced research, university teaching, and teaching in elementary and secondary schools worldwide. More information can be found on the Fulbright Scholarship website

External funding options

You can also apply for any other external funding available. Visit your host institution's website to find scholarships available to exchange and non-partner students