Applying for AUSTUDY

Lchee on 27/06/2016 - 21:49

Hi Ozbargainers

Long time lurker pulled out into the forum light.

Looking for a bit of guidance. Next year, I plan to complete my final year of study. A bit of backstory: I'm a mature aged student, 29 and for most of my early twenties I worked full-time jobs of non-consequence.

At 26, feeling the burgeoning limitations of a K-12 qualification, I began studying an Arts degree, something I had been wanting to undertake for some time.

Throughout most of my degree, I supported myself by underloading and part-time work. For my final year, I'm attempting some fairly hefty 3rd-year subjects and I really want to do well, either to get into Honours or a Masters of Education. I plan to quit my job and put my head down.

So here's my conundrum: because I've been in full-time work, I've built up about 13k of savings. This is enough to make sure when I apply for AUSTUDY, I'll have to 'wait' for 13 weeks. Friends have quietly suggested I move the money elsewhere where Centrelink can't see it but I feel it's a bit dishonest.

So my question is, am I able to work whilst in the 'waiting period'? Should I just apply 13 weeks out of the start of Uni and the welfare will start flowing at the start of the semester?

Thanks, everyone!

Financial

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Comments

  • frazel on 27/06/2016 - 22:19

    If the rich can move their money around so they can pay less tax, than I don't see an issue in you doing the same.

    Yes two negatives don't make a right. Personally I would have spent the money last year so I wouldn't be in the situation.

    Preparing for negative votes..

  • veetor on 27/06/2016 - 22:43
    +2

    Centrelink will request three months of bank statements anyway, so there's not much point hiding your cash if the waiting period is going to be basically the same.

    Honestly, you'd probably be better off asking Centrelink, but I can't see why you wouldn't be allowed to work during the waiting period.

  • nephilim on 27/06/2016 - 23:14
    +1

    If you haven't been on the system for a few years, they are pretty strict on checking all your details. Its not like 10 years ago when they just wanted a ATM receipt and 100 points of ID

  • Findo on 28/06/2016 - 14:08
    +1

    My mum is contracted out to Centrelink and she says the waiting period for payments is like 3 months at least so it if gets backdated to date of first contact you might've already served your waiting period. Just make sure you spend or draw down that amount either by hiding funds or actually using it and then work from there.

  • Geewhizz on 29/06/2016 - 05:49
    +1

    Given that you're currently already studying, why not simply apply 3 months before you actually need it? The only hiccup you might encounter is the requirement to be studying full-time. Exactly how much loading you need to be undertaking to qualify as full-time you'd need to check (it was about 75 per cent last time I checked, but that was a while ago. )

    13K is really not a lot of money. That's pretty mean, really. Just get your parents or someone reliable to mind it for a while. Failing that, are there fees or something you can pay in advance to take it down?

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