Kangan Institute Fees and Financial Assistance
VET Student Loans
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.
Course eligibility for VET Student Loans will be limited to courses that have a high national priority, meet industry needs, contribute to addressing skills shortages and lead to employment outcomes.
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 students need to know about VET Student Loans?
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 the cap for a course, and if so, students will be expected to pay the difference. Payments will be required according to the provider’s billing period.
- 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 and capped loan amounts can be found here
- Eligible courses, and the providers approved to deliver them, will also be available on myskills - Australia’s directory of training.
- Repaying the loan is required when your income reaches the repayment threshold. The threshold is adjusted each year and for the 2016–17 income year it is $54,869 or above. Further information regarding the threshold can be found at www.studyassist.gov.au
- You will be required to demonstrate you are progressing throughout your course.
- From 1 July 2017, you will be required to log in online twice during the year and acknowledge that you accept the loan you will receive for the course.
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
Students wishing to apply must first read the 2017 VET Student Loans Information Booklet
For VET Student Loans information please visit the Commonwealth Department of Education and Training website here