Option 1: VET Student Loans
From 1 January 2017, VET Student Loans will replace VET FEE HELP.
Subject to the passage of legislation, VET Student Loans will commence on 1 January 2017, replacing the current VET FEE‑HELP scheme, which will cease on 31 December 2016.
Students studying certain Diplomas and Advanced Diplomas who elect not to pay their tuition fees upfront may be eligible to apply for a VET Student Loan to defer the cost of their Tuition Contribution. Courses will be subject to maximum loan caps and students will be required to pay any fee over and above that cap.
VET Student Loans are an Australian Government loan scheme for the Vocational Education and Training sector that is part of the Higher Education Loan Program (HELP).
Additional costs such as amenities or materials fees cannot be deferred via the VET Student Loan scheme and must be paid within 14 days of the start date of each unit’s study period or a payment plan set up for payment.
A VET Student Loan is repaid through the tax system once a person reaches the minimum income threshold level of repayment. The VET Student Loan remains a personal debt obligation until it is repaid to the Commonwealth and may affect (by reducing) a person’s take-home (after tax) wage or salary until the debt is repaid. It may also affect the borrowing capacity of the person until the debt is repaid to the Commonwealth.
The Australian Government VET Student Loan website provides detailed information about assistance for financing tertiary study.
You are eligible for a VET Student Loan if you are an Australian citizen, or have a humanitarian visa and meet the required eligibility criteria, or are a qualifying New Zealand Citizen.
Students must have been assessed as academically suited to undertake the eligible course and their FEE-HELP balance must be greater than zero.
Certain Diplomas and Advanced Diplomas are eligible for VET Student Loans that are linked to industry needs and employment outcomes. If you wish to access a loan to study a higher level VET course you will need to select one of these eligible courses. View the list of eligible courses here.
EE-HELP Census Dates 2016
Option 2: Fee Payment Plan
(Certificate 1 – Certificate IV Courses)
If a student is unable to pay their fees for any Certificate I to IV level course they may apply for a Fee Payment Plan.
Students need to ensure that if applying for a payment plan, they submit an application well prior to the fee due date. Students who have applied for the Fee Payment Plan still have network access whilst their application is being processed. The student will be advised if their application has been approved.
If the Fee Payment Plan application is approved the following applies:
- An administration fee will be charged when setting up a payment plan
- The total fee must be a minimum of $500
- A minimum of 10% deposit is required and must be paid up front
- Students will be required to make all further payments via Direct Debit
If the Fee Payment Plan application is not approved, other options will be advised at this time.
(Diploma and Advanced Diploma Course)
Students eligible for VET Student Loans may apply for a Fee Payment Plan for tuition fees over and above their course maximum loan cap as well as amenities and other additional expenses and levies.
Students who are not eligible for VET Student Loans will be eligible to apply for a Fee Payment Plan for all fees.
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