Textbook Rebate is a project of a group of organisations that work with the Australian student community, lead by Commonwealth Bank and managed by StudentVIP.

The founding donors are;

• Commonwealth Bank
• Sydney Morning Herald
  
• The Age
  
• STA Travel
• Telstra
  

Each donor organisation has a long commitment to the Australian student community. Each understands that textbooks are one of the most important tools for you to succeed in your degree.

In 2010, the fund's first year, $50,000 will be distributed to students as a rebate for purchasing new textbooks.

All students studying at an Australian university or TAFE are eligible to apply.

Distribution of funds will be by a random draw held on April 15, 2010. Distributions will be made in $200 amounts. As a project coordinated by StudentVIP, joining StudentVIP is a condition of the application.

Successful applicants will be notified by email and listed on the recipients page. Recipients will have six months to redeem their rebate with the presentation of a textbook receipt(s) from an on-campus bookseller to the value of at least $200. Any unclaimed funds will automatically be rolled into the 2011 fund.

What's the catch?
1. You may not be successful in which case you may have wasted your time completing the application form. But... "you have to be in it to win it".

2. You have to join StudentVIP. But this is free and has good services for students. StudentVIP manages this project. You can even unjoin straight after the draw on April 15 if you want to.

Full terms and condition are here.