VET FEE-HELP / VET Student Loans


CHANGES TO VET FEE-HELP

From January 1 2017, VET Student Loans will be implemented. This is a new student loans program that replaces the current VET FEE-HELP scheme, to give students access to eligible higher level VET qualifications.

WHAT IS THE VET STUDENT LOANS SCHEME?

VET Student Loans is a student income contingent loan scheme for the Vocational Education and Training (VET) sector that is part of the Higher Education Loan Program (HELP).

VET Student Loans assists eligible students to pay for all or part of their VET tuition fees when studying one of the approved accredited VET courses of study at a VET provider. The approved course list can be found here. Loan caps will apply to all eligible courses.

Over a student’s lifetime they may borrow through VET Student Loans and FEE-HELP, an amount up to the FEE-HELP limit to pay their tuition fees. The VET Student Loans debt becomes part of an individual’s accumulated HELP debt.

There is a loan fee of 20% that applies to full fee-paying students undertaking VET Student Loans. The FEE-HELP limit does not include the loan fee. The Australian Government pays the amount of the loan direct to a student’s provider. Students repay their loans through the Australian taxation system once their repayment income is above the minimum repayment threshold. For more information visit VET Student Loans.

HOW DO I APPLY?

To apply for a VET Student Loan simply indicate your intent to access the loan scheme to GOTAFE. GOTAFE will provide your course and enrolment details to the Department of Education and Training via the Electronic Commonwealth Assistance Form (eCAF) system. You will receive an email asking to verify your details and provide additional information required to complete application for access to the loan scheme. You will need to provide your tax file number.

AM I ELIGIBLE FOR A VET STUDENT LOANS?

You may be eligible for a VET Student loan if you:

  • are an Australian citizen or permanent humanitarian visa holder and usually reside in Australia or are a qualifying New Zealand citizen
  • are a full fee paying student or a subsidised student
  • are studying a diploma, advanced diploma, graduate certificate or graduate diploma from the approved courses list at an approved provider
  • read the VET Student Loan information found here before you indicate your intent to access the VET Student Loan scheme

POLICIES AND PROCEDURES

Important information for anyone wanting to study a VET qualification, please click to visit StudyAssist.