VET Student loans Information
VET Student Loans is a loan program that helps eligible students enrolled in higher level vocational education and training courses at approved course providers pay their tuition fees. A person’s access to a VET Student Loan is approved by the Australian Government Department of Education and Training. You access the loan for your course, and the debt is then managed by the Australian Taxation Office (ATO). VFA Learning is an approved VET Student Loans provider and is able to offer eligible individuals access to the VET Student Loans scheme for the following courses:
What is VET Student Loans?
VET Student Loans is an Australian Government Loan scheme that helps eligible students pay their tuition fees for diploma and above VET courses undertaken at an approved provider (such as VFA learning) Your VET Student Loan becomes part of your HELP debt and must be paid back when your repayment income is above the compulsory repayment threshold. The compulsory repayment threshold is adjusted each year. The compulsory repayment threshold for the 2015-2016 income year is $54,126 and the compulsory repayment threshold for the 2016-2017 income year is $54,869.
Policies relating to VET Student Loans
As an approved VET Provider, VFA LEARNING must make publicly available its policies and procedures related to VET Student Loans and Statement of VET Tuition Assurance.
- Schedule of VET tuition fees and census dates for 2017
- Schedule of VET tuition fees and census dates for 2018
- Establishing Eligibility & Suitability Policy & Procedure
- Fair Treatment and Equal Benefits and Opportunity Policy & Procedure
- Application and Student Enrolment Policy & Procedure
- Student Withdrawals and Refunds Policy & Procedure including re-crediting FEE HELP debt
- Complaints and Grievance Policy & Procedure
- Fees & Charges Policy & Procedure including Tuition Assurance statement
- Student Record Management Policy & Procedure
- Access and Equity Policy & Procedure
- Quality Training and Assessment Policy & Procedure
VFA Learning will assist students to apply for VET Student Loan by confirming their eligibility and providing them with the VET Student Loans Information booklet and access to the Governments electronic Commonwealth Assistance Form (eCAF). Students must read the Information booklet and understand their obligations before completing their online application via the eCAF program together with their course enrolment form available from the College. The student must complete their online eCAF and provide VFA LEARNING a copy of their acceptance letter on or before the census date for the first subject of study for which they wish to obtain VET Student Loans assistance. If a student does not submit a completed Request for a VET Student Loan eCAF on or before the census date for the subject, they will not be entitled to VET Student Loans assistance for that subject. If students are eligible, they may borrow funds up to the lifetime VET Student Loans limit to help pay for all or part of the course fees. In 2017, the FEE-HELP loan limit is $100,879. This amount is indexed on 1 January each year. There is a 20% loan fee that applies to fee for service students who request for VET Student Loans assistance. The VET Student Loans loan limit does not include the loan fee. This loan Fee is NOT applied to subsidised students studying in a state or territory that has implemented subsidised VET Student Loans arrangements (such as Victoria)
- An Australian citizen, or a New Zealand Special Category Visa (SCV) holder who meets the long-term residency requirements, or permanent humanitarian visa holder who will be resident in Australia for the duration of the unit of study in which they are seeking VET Student Loans assistance;
- Has not exceeded the FEE-HELP limit;
- Is enrolled with an approved course provider in an approved course and have enrolled in accordance with the application requirements;
- Is studying the approved course primarily at a campus in Australia.
- Is studying a course that meets the course requirements, if it:
- is specified on the VET Student Loans (courses and loan caps) determination (the courses and loan caps determination); and
- delivered by an approved course provider; and
- is a qualification of diploma, advanced diploma, graduate certificate or graduate diploma in the Australian Qualifications Framework;
- Has been assessed by your approved course provider as academically suited to undertake the approved course by either:
- providing your Australian Year 12 Certificate; OR
- providing evidence of successful completion of an Australian Qualifications Framework Certificate IV or higher qualification (where the language of instruction is English); OR
- displaying competence at Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy through an approved Language, Literacy and Numeracy test.
- In addition, your approved provider must reasonably believe you show competence in completing the course;
- Meets the tax file number requirements;
- Has a Unique Student Identifier (USI) or are otherwise exempt;
- Has read the 2017 VET Student Loans information booklet; and
- Has given the required documents to your approved course provider and submitted the loan application form by the first census day no less than two business days after enrolling.
Transitional information for VET Fee Help Students
The VET FEE-HELP scheme closed on 31 December 2016. A new VET Student Loans program commenced on 1 January 2017. Transition arrangements will help support students who are part-way through their VET FEE-HELP funded course. If you commenced your course in 2016, and your course is continuing into 2017, you should have received an email with instructions on how to Opt In to the program for 2017. If you haven’t received this please contact us at email@example.com. Please use the links below to access information on the transition:
Useful links for students
- VET Student Loans Information for Students 2017
- VET Student Loans Student Information Booklet 2017
- Department of Education and Training VET Student Loans Student Information
- My Skills
- Study Assist