VET STudent Loans

VET STUDENT LOANS PROGRAM

VET Student Loans commenced on 1 January 2017, replacing the VET FEE-HELP scheme. The VET Student Loans program offers greater protection for students and focuses on courses that address industry needs, creating better opportunities for employment. VET Student Loans offers income contingent loan support to eligible students studying certain diploma level and above vocational education and training qualifications. Eligible students are entitled for loans up to a capped amount.

For more information, click here.

ELIGIBILITY REQUIREMENTS

To receive a VET Student Loan, you must:

  1. be an eligible student
  2. be studying an approved course
  3. be studying with an approved provider
  4. apply to the government using the approved electronic form
  5. confirm your engagement and progression to continue to access the loan throughout your course
  6. be an Australian Citizen; or A New Zealand Special Category Visa (SCV) holder who meets the long term residency requirements; or a permanent humanitarian visa holder
  7. not have exceeded the FEE-HELP limit (for 2017 this is $100,879 for most(students)
  8. have been assessed as academically suited by ASG to undertake the course by either:
    1. providing your Australian Year 12 Certificate
    2. providing evidence of successful completion of an AQF Certificate IV or higher qualification; or
    3. undertaking a Language, Literacy & Numeracy test to demonstrate competence Exit level 3
  9. meet the Tax File number (TFN) requirements
  10. have or obtain a Unique Student Identifier (USI)

You should also understand that:

• a loan fee of 20% applies (this is added to your HELP debt at the ATO)

• you must repay your VSL debt when your income exceeds the repayment threshold. For the 2016-2017 year this is $54869 and is adjusted annually

ASG OFFERS THE FOLLOWING APPROVED COURSE:

• MEM50105 Diploma of Engineering – Advanced Trade

WHAT ELSE DO I NEED TO KNOW ABOUT VET STUDENT LOANS?

• Statement of VSL VET Tuition Assurance

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• VET Student Loan Handbook

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• VET Student Loans Schedule of Fees 2017

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• VET Student Loans Schedule of Fees 2018

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