# Calculating costs

To calculate the cost of a unit of study (subject) as a Commonwealth-supported student follow the steps below.

## Step 1

Visit the units of study database and take note of:

• the student contribution band the unit of study is in
• the Equivalent Full-Time Student Load (EFTSL) value of the unit of study.

## Step 2

Look up the contribution per 1 EFTSL for the student contribution band in the unit of study you are interested in.

If you are unsure which contribution rate to use, make sure you calculate your liability as a student commencing in 2013 ("Students commencing study after January 1 2012" column).

## Step 3

Use your calculator and multiply the unit of study's EFTSL value by its contribution band rate.

For example, the unit of study Education, Teachers and Teaching – is worth 0.125 EFTSL (6 credit points) and is in student contribution Band 1 (\$5,868 per 1 EFTSL, for a student who commenced their studies after 1 January 2010).

The contribution for this subject is calculated as follows: \$5,868 x 0.125 = \$733.50

Finally, round the amount down to the nearest dollar. Therefore, the contribution for EDUF1018 is \$733.

To calculate your student contribution each year, follow these steps for each of the units of study you intend to complete.

Continuing with the example above, Australian citizens and permanent humanitarian visa holders who do not wish to pay their student contribution upfront and ask for a HECS-HELP loan (in other words, opt to defer their student contribution to the tax system) will have \$733 reported to the tax office as a HECS-HELP loan for EDUF1018. Meanwhile, all other permanent resident visa holders and New Zealand citizens will be required to pay \$733 for EDUF1018 upfront to the University.

Australian citizens and permanent humanitarian visa holders who opt to pay their contribution upfront are eligible to receive a 10 percent discount (referred to as a HECS-HELP discount). To determine the discounted amount for EDUF1018, multiply the contribution amount by 0.90.

For example: \$733 x 0.90 = \$659.70. Here, the amount is not rounded down to the nearest dollar and students are required to pay dollars and cents.

For further information on Commonwealth-supported places and HECS-HELP please visit the Study Assist website.