VET Student Loans
From 1 January 2017, VET Student Loans will be implemented.
This is a new student loans program that replaces the current VET FEE-HELP scheme, to give eligible students access to quality higher level VET qualifications, particularly those students who could not otherwise afford to pay upfront.
How much can I borrow – what is the FEE-HELP limit?
The FEE-HELP limit is the maximum amount you can borrow under VET FEE-HELP/VET Student Loans (and FEE-HELP) over your lifetime. In 2017, the FEE-HELP limit is $100,879 for most students. For students undertaking medicine, dentistry and veterinary science courses (as defined in the Higher Education Support Act 2003) the FEE‑HELP limit is $126,101.
Note that the higher FEE‑HELP limit only applies to courses that lead to initial registration to practice in those fields. The lower limit will apply to any further study you undertake once you have gained the requisite level for initial registration.
The FEE‑HELP limit is a lifetime limit and is not reset or ‘topped up’ by any repayments that you make. The FEE‑HELP limit is the total amount available to eligible students under both the FEE‑HELP and VET FEE‑HELP/VET Student loan schemes. This means that any amount you borrow under either FEE‑HELP or VET FEE‑HELP/VET Student Loan will reduce your FEE‑HELP balance until you have reached the FEE‑HELP limit.
This limit is indexed in January each year.
Are you eligible?
There are specific criteria students must meet to be eligible for a loan through VET FEE HELP/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
- a qualifying New Zealand citizen is a New Zealand citizen who:
- Holds a special category visa; and
- Has been usually resident in Australia for at least 10 years; and
- Was a dependent child when he or she was first usually resident in Australia; and
- Has been in Australia for periods totaling 8 years during the previous 10 years; and
- Has been in Australia for periods totaling 18 months during the previous 2 years.
- meets the tax file number requirements;
- The application must be signed by both the student and a responsible parent of the student if the following apply:
- The student is under 18 years of age;
- The student has a responsible parent;
- The student has not received youth allowance (within the meaning of the Social Security ACT 1991) on the basis that the student is independent.
- is a full fee-paying student or a Victorian subsidised student enrolled on or before the census date in an eligible VET Unit of Study through an approved VET provider and remains enrolled in the unit at the end of the census date;
- has completed, signed and submitted a valid request for VET FEE-HELP/VET Student Loan assistance form for the unit or the course of which the unit forms a part, on or before the census date; and
- has not exceeded the FEE-HELP limit.
New Zealand Special Category Visa (SCV) holders should visit www.studyassist.gov.au for eligibility details.
The government has information available to students and the broader community about the VET FEE-HELP scheme to ensure that current and prospective students understand how income contingent loans operate, and are aware of their rights and obligations. This information will make it clear to students about who they can talk to if they have any concerns, queries or complaints about their training provider, or their student loan. Visit www.studyassist.gov.au for details.
VET Student Loans Student Entry Procedure
Students should refer to the Institute’s VET Student Loans Student Entry Procedure for information on eligibility to access VET Student Loan. Click here to access the Student Entry Procedure
How do I apply?
If you are eligible for VET FEE-HELP/VET Student Loan assistance and would like to obtain a FEE HELP loan, you must first read a copy of the current VET FEE-HELP/VET Student Loan information booklet and then complete an (Electronic Commonwealth Assistance Form) e-caf enrolment contacting any SuniTAFE campus.
Visit www.studyassist.gov.au for more information regarding the timelines, eligibility requirements and eligible courses.
SuniTAFE 2017 census dates
|Term 1||9 March 2017|
|Term 2||26 May 2017|
|Term 3||28 August 2017|
|Term 4||18 December 2017|