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The Australian Centre for Student Equity and Success acknowledges Indigenous peoples across Australia as the Traditional Owners of the lands on which the nation’s campuses are situated. With a history spanning more than 60,000 years as the original educators, Indigenous peoples hold a unique place in our nation. We recognise the importance of their knowledge and culture, and reflect the principles of participation, equity, and cultural respect in our work. We pay our respects to Elders past, present, and future, and consider it an honour to learn from our Indigenous colleagues, partners, and friends.

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You are reading: Towards a financially inclusive higher education system

This is the final report submitted for the ACSES Small Grants Research Program project “Towards a financially inclusive higher education system”.

Lead researcher: Dr Anne-Therese McMahon, University of Wollongong

Co-authors: Professor Karen Charlton, Professor Kelly Lambert, Professor Yasmine Probst, Dr Katherine Kent, Professor Karen Walton, Dr Joanna Russell, Dr Kylie Austin, Dr Gabrielle O’Flynn (University of Wollongong)

Read below for the key points of the report “at a glance”. The full report is available for download in PDF [2 MB] or Word [2 MB] format.

At a glance

What we did

This report examined the prevalence and impact of financial hardship on university students. It evaluated the effectiveness of existing financial support services and identified barriers that prevent students from accessing essential assistance. It did so through:

  • a desktop audit of financial aid services across 41 Australian universities
  • a scoping review of the existing literature
  • a national survey of over 900 students complemented by in-depth interviews
  • both qualitative (interview) and quantitative (survey) data on the experiences of university staff.

What we found

  • Financial hardship is widespread, with one in three students experiencing financial insecurity, particularly international students, Indigenous students, and students living with a disability.
  • While most universities offer financial aid services, significant barriers remain—only 21.6% of students were aware of available financial support, and nearly half of these students found application processes were too complex.
  • Financial stress was linked to increased dropout rates, lower academic performance, and adverse mental health outcomes.
  • While emergency aid and scholarships are available at many universities, these initiatives are under-promoted, often lack sufficient funding, and fail to provide long-term financial stability for the students.

What we recommend

Government funded payment schemes, such as Youth Allowance, Austudy and ABSTUDY, should be enhanced to reflect the actual financial needs of all Australian university students.

Universities should:

  • develop comprehensive Financial Inclusion Plans
  • improve webpage design and accessibility of their financial aid information
  • expand emergency support services
  • enhance non-monetary support services, such as providing discounted textbooks, subsidised meal plans, and on-campus services to alleviate financial pressures
  • simplify application processes for aid.

These recommendations have been used to develop guidelines—Improving the Financial Wellbeing of Australian University Students—and a poster (see Appendices 10.1 and 10.2 of the full report).

 

The full report is available for download in PDF [2 MB] or Word [2 MB] format.

Download the full report:
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Aboriginal and/or Torres Strait Islander Disability General / all students Indigenous International Research Reports
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Towards a financially inclusive higher education system
McMahon et al., 2026
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