The VET FEE-HELP scheme ended on 31 DEC 2016 and has been replaced by the VET Student Loans program.
The VET FEE-HELP scheme will continue to apply to all students who commenced study with a census date before 31 December 2016, and will be available to them throughout 2017.
In order to access a VFH loan for 2017 existing students are required to ‘opt-in’ to continue in VFH Loan program prior to their first 2017 census date. Failure to ‘opt-in’ by the census date will prevent existing students from accessing a VFH Loan for 2017. Refer to this link for more information.
VET Student Loans Program
Eligible students who enrol in approved courses from 1 January 2017 will have access to the VET Student Loans program, which is replacing the current VET FEE-HELP scheme. This is a new vocational education and training student loans program, providing eligible students with access to quality higher level VET qualifications, particularly to those students who could not otherwise afford to pay upfront. For more information, click here.
To get a VET Student Loan, you must:
- Be an eligible student
- Be studying an approved course
- be studying with an approved provider
- apply to the government using the approved form
- confirm your engagement and progression to continue to access the loan throughout your course
- 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
- Not have exceeded the FEE-HELP limit (for 2017 this is $100,879 for most students)
- Have been assessed as academically suited by ASG to undertake the course by either:
- providing your Australian Year 12 Certificate
- providing evidence of successful completion of an AQF Certificate IV or higher qualification; or
- undertaking a Language, Literacy & Numeracy test to demonstrate competence Exit level 3
- Meet the Tax File number (TFN) requirements
- 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 offer the following Approved course:
- MEM50105 Diploma of Engineering – Advanced Trade