In this article, you will get to know about the Austudy Payment 2024 Latest News, Rates, Calculator, Eligibility, Payment Amount. Austudy is a federal financial assistance payment program for Australians that delivers income support to mature students and learners with low income. These are the federal payments for which aid is provided under the Social Security Act 1991. For the year 2024, the Department of Human Services has made some specific changes in the payment rates which are subjected to rising inflation. To know about the Austudy Payment 2024 Latest News, and more, continue browsing this article.
Austudy Payment 2024 Latest News
For the year 2024, the Austudy Payment has been increased by $36.20 and $45.60 per fortnight. This increased line is indexed with the increase in inflation that went into effect from Jan 2024. The Austudy is a taxable Centrelink payment in which financial assistance is provided based on the individual situation. Along with this, the payment is delivered on the basis of some specific eligibility criteria to provide financial help to students and learners.
Individuals who are 25 years or above and enrolled with a full-time Australian Master’s or Ph.D. will be able to receive this Austudy Payment. The money will be granted from the Australian Government in the form of income support. From Jan 2024, the beneficiaries will be offered increased payment based on their situations single with no children will receive the Austudy of $639.00 and single with children will be delivered with $806.00.
The Austudy Payment 2024, for the couple has been raised by $45.60. The couple with no children will be provided their maximum fortnightly payment of $639.00 and the couple with children will be offered their maximum fortnightly payment of $691.80. Along with this, the payment is also based on your and your partner’s income and total assets which can also create an effect on the amount you get.
Austudy Payment Rates
The Austudy rates for 2024, have been increased in between $36.20 and $45.60 per fortnight. The payment rates vary based on the individual’s circumstances and qualifications. The Federal Department of Human Services Australia uses different rates for getting income support. The basic rates paid for Australia vary according to the recipient’s situation and the eligible individual will get their maximum fortnightly payment from $639 to $691.80.
To get more income support payment from Austudy the recipient will receive a different rate with the following apply
- The individual must be getting an income support payment before claiming the Austudy and that income should not be a student payment.
- Continuously receiving the income support payment from around 26 to 39 weeks before start taking the course of study.
- Not having any dependent child, in which the higher you will able to get are single with no children $754.60 and couple with no children $691.80.
These are the federal rates that you will get as an Austudy Payment, and no dependent child will be able to receive some other additional benefits.
Eligibility for Austudy 2024
The Austudy Payment is delivered based on two different criteria that include students and apprentices. With that, you are also required to meet your residence rules, income test, and assets test. Austudy is a federal income support payment that provides different income support.
Students, need to be 25 years old or above and doing their studies as full-time learners in an approved course with an approved institution.
Apprentices must be 25 years old or older, have to be documented with the Australian Apprenticeship scheme, and doing the full-time traineeship or apprenticeship.
At the time of applying, you will have to meet with your income tests, assets test, Get a DVA payment, Residence rules, study loads, Approved course and education, allowable time, get a medical certificate, and distance and online education.
Austudy Amount Calculator
The Austudy Payment amount calculator is used to calculate the person’s Austudy rates. Social Services Australia uses this for income and assets from which the beneficiaries are granted their payment rates.
By using the Calculator the Government has set out the new federal rates and the eligible recipient will be able to manage their cost of living and education expenses with that eligible sum.
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