Apply for Austudy....................................................................................................................13

transactional bank account to assist you in meeting your daily expenses. The interest rate will be confirmed at time of application.

Benefits:

 Your capital will be preserved whilst earning a higher interest rate than your Y savings account. This will be available at maturity to assist in meeting your financial goals.  The interest rate on your term deposit will be fixed for the duration of the deposit. This gives you certainty of the income you will receive.  The rate of interest will be higher than your transactional bank account, helping to increase your savings / make more income available to meet your living expenses.

Points to Consider:

 The term for your deposit is fixed. Break fees and lost interest may be incurred if you access your money before the maturity date.  Interest rates may rise whilst you are invested, and you will not be able to access these higher rates until maturity.  Investing in cash, you will forego potential higher returns that could be achieved from investing in growth asset classes such as property and shares.  There is a risk that your interest rate will be lower than the inflation rate meaning you will lose purchasing power over the term of the deposit.

11. Apply for a Low-Income Health Care Card (LIHCC)

We recommend that you apply for a Commonwealth Government Low-Income Health Care Card. We estimate based on your current income from all sources, you will be eligible to receive the Health Care Card.

Benefits:

 You may be entitled to other payments and benefits, which include: o Pensioner Concession Card o Pension Supplement o Energy Supplement o Remote Area Allowance (if eligible) o Rent Assistance (if eligible).  You will receive cheaper medicine under the Pharmaceutical Benefits Scheme.  Your Doctor may provide bulk-billing visits.  You may also receive discounts on utility bills, rates, public transport and other health care costs.  [Children] Your children can be added and their health needs also eligible for discount.

Points to Consider

 The LIHCC is issued annually. You will need to reapply each year and meet the income test at that time.  Eligibility criteria is income-based and subject to change. You may lose access to the health care card if your income increases or changes are made to the eligibility criteria.  Your application will need to be processed and assessed before the card is issued.  Should your circumstances change, you will need to notify Centrelink within 14 days.