As thousands of Australian students prepare to transition from high school to tertiary education, financial support programs are stepping up to provide assistance. With new changes in policies, many students now have access to financial aid to help them focus on their studies. Key programs such as Youth Allowance, ABSTUDY, and the Tertiary Access Payment (TAP) are providing crucial support to students across the country.
Youth Allowance: Financial Support for Young Australians
The Youth Allowance program is designed to help young Australians aged 16-24 who are either studying full-time, in apprenticeships, or undertaking traineeships. This support is available to students who meet various eligibility criteria, including income and asset tests.
For those living away from home, eligible individuals can receive up to $663.30 per fortnight, while those living at home can receive up to $472.50. Youth Allowance is a critical financial resource for many students, enabling them to pursue their education without the added burden of financial stress.
ABSTUDY: Tailored Support for Indigenous Students
Another essential program, ABSTUDY, provides similar financial assistance, but it is specifically tailored to meet the needs of Aboriginal and Torres Strait Islander students. This program offers financial support for those who are studying full-time, in apprenticeships, or involved in traineeships, just like Youth Allowance. The ABSTUDY payment ensures that Indigenous students receive the necessary financial backing to continue their studies and excel in their chosen fields.
Tertiary Access Payment (TAP): Assistance for Regional and Remote Students
In addition to these programs, the Tertiary Access Payment (TAP) offers significant help for students moving from regional or remote areas to study at a tertiary institution. The TAP is designed to assist students who need to relocate for their education.
Students from outer regional or remote areas can receive $5,000 in two instalments, while those from inner regional areas can receive $3,000 as a lump sum. This payment is especially important for students who might otherwise struggle with the costs associated with moving away from home to pursue higher education.
Policy Change: Expanding TAP Eligibility
A key policy change implemented in January 2025 removed the requirement that students must commence tertiary study immediately after completing year 12 to be eligible for TAP.
Now, students under 23 years old, starting their first tertiary course, and in their first year of study, can access TAP, even if they’ve taken a gap year. This change is designed to help more students, including those who might delay their education for personal or financial reasons, ensuring they don’t miss out on vital support.
These financial programs are crucial in helping Australian students navigate the challenges of tertiary education, making it easier for them to focus on their studies while easing the financial burdens associated with higher education.
