While studying in Australia, students will require sufficient funds to cover their living expenses and health insurance, as well as university’s tuition and fees. So, there are varieties of scholarships for domestic and international students who are willing to study in Australia to tackle their financial matters. The scholarships are mainly provided for international students to assist them with funds for studies. Scholarships are divided into different categories which are as follows:
- Merit-Based Scholarship
- Financial Aid
- Equity Scholarship
- Government Scholarship
- Women’s Scholarship
- Faculty Scholarship
- Sports Scholarship
- Honors Scholarship
- Alumni Scholarship
Merit-Based Scholarship: This type of scholarship is awarded to students based on academic performance. There are certain academic criteria which are given by Universities to achieve this scholarship. The most important criteria require students to be academically sound and have good grades. However, merit scholarship is not limited to only good grades. This scholarship can also be awarded based on other factors such as community service, leadership roles, talent, and extracurricular activities. Few types of merit-based scholarship which are common in Universities include Chancellor’s Scholarship, Vice Chancellor’s Scholarship, Deans Scholarship as well as Excellence Scholarship.
Scholarships are valid for only a certain time. Hence, after receiving scholarships, students need to maintain certain grades or academic requirements which depends according to Universities.
Financial Aid: This is the financial support given to students who are furthering their studies. This is achieved rather from need-based than merit-based. It is either provided by government or universities as grants, loans, and the work-study program. This type of support makes colleges or universities affordable for students who are willing to pursue their career there. Students who are not eligible for merit-based can receive this aid.
Equity Scholarship: Equity Scholarship supports disadvantaged students with the general costs associated with their studies. This type of scholarship is awarded to students who are from low socio-economic backgrounds specifically those who receive Centrelink income support payments such as ABSTUDY, Austudy, Youth Allowance, Newstart Allowance, Disability Support Pension, Parenting Payment (Single) or the Carer Payment.
There are two types of Equity Scholarships which are as follows:
- Institution Equity Scholarships: these are funded by each university according to their eligibility criteria and value offered. However, the duration of this scholarship varies with universities.
- Indigenous Student Success Program: These type of scholarship are funded by Australian government according to their criteria.
Government Scholarship: This scholarship is offered by the Australian government especially for international students for their studies. This scholarship is divided into different categories:
- Australia Awards: Australia Awards is a government funding program that provides scholarship and fellowship to international students to make their studies affordable. Its aim is to widen and strengthen Australia’s links with the world by offering financial support to prospective international students. Every year Australian government shares a high amount of money for this awards so that students can achieve their dream of studying abroad.
- Endeavor Scholarship: This is also a government-funded scholarship for international students who want to pursue a postgraduate course in Australia. The maximum value of this scholarship is A$140,500 for Masters and A$272,500 for Ph.D. This amount of money includes a travel stipend (A$3,000), an establishment stipend (A$4,000) and a monthly payment of A$3,000 while an international student will also have the health and travel insurance covered in this scholarship.
- The Research Training Program (RTP): The Research Training Program is a mixture of former scholarship programs: Australian Postgraduate Awards (APA), International Postgraduate Research Scholarships (IPRS) and the Research Training Scheme (RTS). The participating universities will receive block grants in yearly basis. These grants are then be distributed to home students willing to study abroad and international students aiming to seek higher education in Australia. The value of the yearly stipend rate for the awards in 2018 is A$42,307 per year.
- Australia Awards Pacific Scholarships (AAPS): These are offered to international students who are from Pacific region. These kind of scholarships are merit-based so the applicant’s previous academic achievements and other criteria will indicate their selection. The scholarship endures for the minimum period of time that the student expects to finish the course. Additionally, the scholarship may cover a preparatory course whose length is usually limited to one year.
Women’s Scholarship: Gender inequality exists in some male-dominated fields as a result universities and colleges try to create a balance by offering scholarship and other educational assistance for the benefit of female students. Scholarships for women are offered to celebrate not only the achievements and accomplishments of the many great women who have paved the way to this modern day but also to further the educational opportunities of young women of future generations. However, the eligibility and requirements for women vary according to universities.
Faculty Scholarship: This scholarship is awarded to students according to the interest of studies. The scholarship is flexible to different fields. This scholarship is merit-based and offered to a large number of international students. However, students should meet the scholarship criteria to be eligible. Few faculty scholarships include:
- Architecture and Design Scholarship
- Arts and Humanities Scholarship
- Engineering Scholarship
- Information Technology and Computer Science Scholarship
- Accounting and Business Scholarship
Sports Scholarship: This scholarship is provided to students who are excellent in sports. This scholarship assists sports students with financial support. The aim of the scholarship is to assist emerging student-athletes with a designated entry scheme. Also, it aims to support emerging athletes in achieving academic success and vocational transition as well as develop individual Universities clubs through the support of emerging athletes.
Honors Scholarship: Honours scholarship provides opportunities for new or continuing students who have demonstrated academic excellence in their studies, and are intending to enroll in an honors program. This scholarship is offered to both international and domestic students. The Scholarship is awarded on the basis of academic merit, curriculum vitae, and a personal statement which demonstrates their academic achievements, leadership experience, communication skills, relevant work experience and interest in studying in the proposed Honours Program. The value of the scholarship depends on Universities.
Alumni Scholarship: This scholarship is awarded to both overseas and domestic students whose siblings, parents or grandparents were the former students of that university. These type of scholarship assists students who belong to those former family with certain funds for their studies.