Financial aid

Bond University participates in the William D Ford Direct Loan program, which offers Direct Subsidized and Direct Unsubsidized Loans, and PLUS loans to U.S. Citizens. Students who are approved for loans have their tuition fee deposit reduced to $500 and once they pay this amount plus their Overseas Health Cover charge and Student Services and Amenities Fee to accept their offer to study at Bond University, a Confirmation of Enrolment form (CoE) will be issued, allowing students to apply for their student visa.

The US Department of Education has an online resource page that covers a range of topics of interest to US students pursuing education abroad.

To be eligible to apply for financial aid at Bond University, you must meet the following criteria:

• Be enrolled at least half-time in an on campus full degree program (bachelor's, master's, MPhil or PhD).
• Possess a high school diploma.
• Maintain Satisfactory Academic Progress requirements (GPA of 2.1 on a 4 point scale).
• Be a citizen, national permanent resident or eligible non-citizen of the United States.
• Not be in default on a Direct Subsidized Loan, Direct Unsubsidized Loan, Stafford, PLUS, SLS or Consolidation Loan.
• Not owe a refund on any Title IV funding – Title IV refunds may be required for funds you may have received during periods when you were ineligible to receive those funds.
• File a Free Application for Federal Student Aid (FAFSA).
• For PLUS loans, you (Graduate or Professional students) or your parents (Undergraduate dependent students) must also pass a simple credit check.
• Comply with requests for documentation if selected for verification by the U.S. Department of Education, as indicated on your Student Aid Report.
• Submit all documentation required by Bond University to verify your eligibility and determine your financial need.

Please note:

• You cannot apply for financial aid for the Medical program.
• You cannot enrol in any online and/or distance education subjects or in any program which has online and/or distance education subjects. 
• You can participate in internships/externships provided those internships are subject to oversight by an accreditor or government entity (approval of the program by TEQSA is acceptable).
• For further information please email financialaid@bond.edu.au

Bond University participates in the William D. Ford Direct Loan Program, which offers Direct Loan and PLUS loans to U.S. Citizens. Loans can only be used for bachelor's, master's and doctorate programs.

The maximum loan amount that you are eligible to borrow is determined by a process called Financial Needs Analysis (FNA). Firstly, your Cost of Attendance (COA) is determined based on the cost factors below. This is an estimate of your expected educational costs for the period in which you enrol (maximum period one year).

Your Other Financial Assistance (OFA), e.g. sponsorships or scholarships, is deducted from the COA to establish the amount that you can borrow.

In the case of dependent undergraduate students, the Student Aid Index (SAI), reported on the left corner of your FAFSA Submission Summary as well as your OFA, is deducted from your COA to determine your financial need and eligibility for a Subsidized loan.

These are the loans that are available:

Subsidized Direct Loans are awarded to undergraduate students who demonstrate financial need. The federal government pays your interest while you are in school at least half-time, during the grace period and any periods of deferment. Although you are not required to make payments whilst you are studying, you will start repayment six months after you graduate, leave school, or drop below half-time enrolment.

Unsubsidized Direct Loans are available to all eligible students, regardless of income. Unlike the subsidized Direct Loan, you are responsible for paying the interest. Interest accrues from the time of the first disbursement; however, you have the option of deferring your interest and principal payments until you enter the repayment period (at which point this interest is ‘capitalized’). Alternatively, you can opt to make a minimum repayment of $50 per month or the unpaid balance including interest, whichever is less. This will save you a lot of money in the long run. 

Parent PLUS Loans for Undergraduate Dependent Students are federally guaranteed loans that allow parents to borrow funds to pay for the educational expenses of their dependent student. The program requires the borrower to pass a simple credit check. Interest begins to accrue when funds are disbursed and repayment begins within 60 days after the loan has been fully disbursed. However, the parent can apply to defer repayment whilst the student is enrolled at least half time and for an additional six months after the student ceases to be enrolled.

PLUS Loans for Graduate Students are federally guaranteed loans that allow graduates to borrow funds to pay for educational expenses on their own or with an eligible co-signer. The program requires the borrower to pass a simple credit check. Before applying for this loan the borrower must apply for, and the school must determine, their eligibility for the maximum annual Direct Loan amount.

Helping you choose

Direct Unsubsidized Loans and PLUS loans are available for both undergraduate and graduate studies. The main advantages of Direct Unsubsidized Loans are that they have lower interest rates and better repayment terms. However, because there are annual loan limits (please see below), many students apply for both a Direct Unsubsidized Loan and a PLUS loan in order to meet the costs of their education.

To ensure you have all the information you need to decide about studying at Bond University, please view current information about the University and our policies and procedures using the links below.

You need to know the current requirements and procedures for students and Bond University, under the Higher Education Act of 1965 (HEA), as amended by the Higher Education Opportunity Act of 2008. Our website provides the latest information (and we have summarised with a list of links below) but if you cannot find the information you need, please contact us if the information you require is not available

Financial Aid Officer
Student Assist
Bond University
14 University Drive
Robina, QLD 4226
Australia
Ph: +61 7 5595 4049
Email: financialaid@bond.edu.au

• About the University
• Annual report
• Admissions
• Policies and procedures
• Student support services
• Programs
• Privacy
• Academic integrity
• Academic progression
• Career advice
• Refund Policy

References
34 CFR 668.41 (a)-(d); 34 CFR 668.42; 34 CFR 668.43; 34 CFR 668.44; 34 CFR Part 99

Direct Subsidized Loans and Direct Unsubsidized Loans

• Complete a free Application for Federal Student Aid (FAFSA). You must list Bond University as one of your preferred schools (School code: G30954). Processing of your application will take a 1-3 days. Once processed you can access your FAFSA Submission Summary’ by logging into your StudentAid.gov account, scrolling down to ‘My Activity’ and selecting the FAFSA form.
• Complete loan program Entrance Counselling
• Sign a Master Promissory Note
• Complete the US Federal Aid Loan Application Form

If you previously applied for federal student loans, you may qualify to use a Renewal FAFSA. Renewal FAFSAs are generally available on the FAFSA website between November and December each year. They have fewer questions to answer because you only need to update information that has changed since you last applied.

Applying for Federal student aid is FREE.

Undergraduate students should sign a Master Promissory Note (MPN) for subsidized and unsubsidized loans; postgraduate students can sign the MPN here.

PLUS loan

Parents of dependent undergraduate students or graduate students themselves should go to Federal Student Aid and complete the following:

• Sign in using your FSA Student PIN
• Complete an Application for a Direct PLUS Loan
• Sign a Master Promissory Note (MPN) for a Parent PLUS Loan or Graduate PLUS Loan

The PLUS Loan application requires the borrower to pass a simple credit check. The amount you will apply to borrow is the amount required for the number of semesters in which you will be enrolled in the calendar year. A renewal loan application will then be lodged for additional semesters.

For more information please email financialaid@bond.edu.au

Private education loans are available from non-government lenders and approval is based on credit history. It is recommended that you apply with a co-signer who is a U.S. citizen.

U.S. students can use private education loans to borrow the difference between the maximum Cost of Attendance (COA) and any Federal (Direct) Loan.

Private education loans are also available to those students enrolled in the Medical program and all non-degree programs such as Certificate, Graduate and Postgraduate Diploma programs which are ineligible for Federal funding. They can also be used when a student is otherwise ineligible for Federal loans, e.g. when they are enrolled less than half-time.

Sallie Mae and Earnest offer private education loans to students studying outside of the U.S. They also have introduced a suite of loans created specifically for students pursuing graduate studies in business, medical and health professions. Visit Sallie Mae Student Loans or earnest.com/for-schools for specific details about eligibility, how to apply, loan amounts and other terms and conditions.

Bond University strongly recommends that students first apply for Federal loans (where eligible) and then apply for additional funds through a private education loan if required. Federal loans are more favourable due to the generally lower interest rates and more flexible repayment options.

For further information please contact the Financial Aid Officer.

All students in receipt of Federal Student Aid must maintain Satisfactory Academic Progress standards as set down by the U.S. Department of Education.

Read Bond University’s Satisfactory Academic Progress Policy.

Eligibility for GI Bill^® Educational benefits can be extended to veterans, members of the Selected Reserves or National Guard; and children or spouses of service-connected deceased or totally and permanently disabled veterans. Each U.S. Department of Veteran Affairs (DVA) education program has distinct eligibility requirements under specific chapters of Title 10 and 38, U.S. Code (USC). All students who feel they may be eligible for education benefits should submit an application. Even if a student appears to be ineligible, the DVA will review the application and officially grant or deny benefits. 

GI Bill^® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government web site.

Approved study programs

The U.S. Department of Veterans Affairs will pay an eligible student education benefits for pursuit of an approved program of education or training. An approved program is a course of study or a program of training which has been determined by the U.S. Department of Veterans Affairs as meeting the legal requirements for payment of educational assistance benefits to veterans and other eligible persons. (38 CFR 21.7122(b))

The following are approved programs at Bond University:

• Bachelor of Arts
• Bachelor of Biomedical Science
• Bachelor of Business
• Bachelor of Communication
• Bachelor of Construction Management and Quantity Surveying
• Bachelor of Business (3 Year Program)
• Bachelor of Exercise and Sports Science
• Bachelor of Film and Television (3 Year Program)
• Bachelor of Global Studies (Sustainability)
• Bachelor of Health Sciences
• Bachelor of International Hotel and Tourism Management
• Bachelor of International Relations
• Bachelor of International Relations / Bachelor of Business
• Bachelor of Property
• Doctor of Philosophy (Faculty of Health Sciences and Medicine)
• Doctor of Philosophy (Faculty of Society and Design)
• Doctor of Physiotherapy
• Juris Doctor
• Master of Actuarial Practice
• Master of Business Administration
• Master of Business Administration (Professional)
• Master of Business Administration/Master of Project Management
• Master of Communication (Professional)
• Master of Construction Practice/Master of Project Management
• Master of Finance
• Master of Philosophy 
• Master of Psychology (Clinical)

If your proposed program of study does not appear in the list above, please contact the Financial Aid Officer to have your program added well before the commencement date of your program as it can take several months for programs to be approved.

Students who wish to apply for veteran benefits can do so online through the Vets.gov website.

Benefit programs

Post 9/11 GI Bill - Chapter 33

The Post - 9/11 GI Bill is an education benefit program for individuals who served on active duty on or after September 11, 2001.

Receiving Benefits under the Post-9/11 GI Bill

Post-9/11 GI Bill benefits are payable for training pursued on or after August 1, 2009. No payments can be made under this program for training pursued before that date.

Eligibility

You may be eligible if you served at least 90 aggregate days on active duty after September 10, 2001, and you are still on active duty or were honourably:

1. discharged from the active duty; or
2. released from active duty and placed on the retired list or temporary disability retired list; or
3. released from active duty and transferred to the Fleet Reserve or Fleet Marine Corps Reserve; or
4. released from the active duty for further service in a reserve component of the Armed Forces.

You may also be eligible if you were honorably discharged from active duty for a service-connected disability and you served 30 continuous days after September 10, 2001.

For more information regarding the GI Bill, including rates of benefit, please visit U.S Department of Veterans Affairs - Education and Training.

Montgomery GI Bill - Chapter 30

Individuals who entered active duty after July 1984, and participated in the pay reduction program and served honorably for two years or more are eligible. Veterans or service persons cannot withdraw money paid into the fund.

Veterans Administration Vocational Rehabilitation Program - Chapter 31

This program is available to certain veterans who have a service-connected disability of 10 percent or greater. It provides a monthly stipend and also covers the cost of tuition, books, and supplies. Eligibility is determined on a case-by-case basis.

Veterans Education Assistance Program - Chapter 32

Individuals who entered active duty service between January 1, 1977 and June 30, 1985, served a continuous period of 181 days or more and contributed financially toward the education program are eligible for the VEAP program. Monthly benefits are determined by adding the amount of personal contributions and Department of Defence contributions made during the years of active service.

GI Bill for Dependents - Chapter 35

A child or spouse of a service-connected deceased or 100 percent disabled veteran may be eligible for veteran educational benefits. Benefits may be used until the dependent has reached the age of 27 or 8 years from the date of eligibility is determined, whichever is later.

Montgomery GI Bill for Reservists - Chapter 1606

An individual who enlisted, re-enlisted, or extended an enlistment in the Selected Reserve or National Guard for a period of 6 years after July 1, 1985, and has completed the initial active duty training is eligible for veteran benefits. This program does not require a contribution by the service person.

The Fulbright Program is one the largest and most prestigious educational exchange programs in the world. The Australian-American Fulbright Commission is one of over 50 Fulbright Commissions in the world who work with the United States Department of State to facilitate the Fulbright Program between the United States and over 150 countries worldwide. Read more.

The Gilman Scholarship Program seeks to diversify the kinds of students who study abroad and the countries and regions where they go. Established by the International Academic Opportunity Act of 2000, the Gilman Program offers scholarships for students who have been traditionally underrepresented in education abroad and provides awards for U.S undergraduate students who are receiving Federal Pell Grant funding at a two-year or four-year college or university to participate in study abroad programs worldwide. Read more.