Everyone knows the start of the uni semester is difficult for students. Students will have expenses like textbooks, stationary or might be moving closer to uni. It can be a difficult period but luckily Centrelink provides what’s known as the Student Start up Scholarship to help Students manage their finances through this period.
What is the Student Start-up Scholarship
Essentially Centrelink will deposit a lump sum into your bank account at the start of each semester to assist with these expenses. At present the Student start up is $1,025 so you can expect two of these payments a year if you are entitled.
Eligability for the Student Start up Scholarship?
Despite what the name suggests you don’t need to be the smartest or most intelligent student to be eligible. To be entitled to the Student start up scholarship you need to be studying full time in a approved course and to have received at least $1 from either a Youth Allowance or Austudy benefit.
Those costs at the Start of the Semester
Textbooks cost a small fortune, universities have made it pretty clear that they intend to get every dollar out of you when it comes time to Buy textbooks. Pencils, Pens and paper can also cost a bit, perhaps putting some money away for printing and other expenses during the semester is a good way to use the money.
Spend it all now?
The problem with the student start up scholarship is do students really spend this money on Textbooks and necessary expenses? Is it being spent on unnecessary expenses such as a new TV or games for the play station or having drinks with friends? This can cause problems, a big cash injection into the bank account can give you a buffer for all those other costs that come up during the semester. Spending the whole start-up scholarship as as soon as you get it means your going to be in trouble if you need that money later on.
To find out more about the Student Start-up scholarship click here