VET Student Loans
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.
There are specific criteria students must meet to be eligible for a loan through VET Student Loans. Students must have been assessed as academically suited to undertake the eligible course and their FEE-HELP balance must be greater than zero. Furthermore, a student must be:
- an Australian citizen; or
- hold a permanent humanitarian visa and usually reside in Australia; or
- be a qualifying New Zealand citizen.
What do new students need to know?
A range of measures will be implemented from 1 January 2017 that will affect students hoping to access income contingent loans to pay for their course fees.
Eligible students will be entitled for loans up to a capped amount.
Providers may charge above this cap for a course, and if so, students will be expected to pay for the difference according to the provider’s billing period.
Please refer to the fee schedule for 2017 Course Fees and Loan Caps.
Certain Diplomas, Advanced Diplomas, Graduate Certificates and Graduate 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.
A list of eligible courses can be found at www.education.gov.au/vet-student-loans, please contact TasTAFE to check which courses are currently being delivered.
Repaying the loan is required when your income reaches the repayment threshold. The threshold can be found at www.studyassist.gov.au. The maximum loan amount you can borrow from the Australian Government is $99,389 in 2016 for all HELP courses including higher education courses.
You will be required to demonstrate you are progressing throughout your course. From 1 July 2017, you will be required to log in online and acknowledge that you accept the loan you will receive for the course.
Policies and Procedures
If you have any questions, concerns, or require more information regarding any element of VET Student Loans Department of Education and Training HELP Student Enquiry line on 1800 020 108 or email VETStudentLoans@education.gov.au
This page will be updated regularly as additional information becomes available.
What do current VET FEE-HELP students need to know?
For more information visit the VET FEE-HELP page.
A full summary of how these changes impact students who are currently deferring fees to VET FEE-Help is available on the Australian Government’s website.