VET Student Loans | VET fee help approved courses

VET Student Loans

The VET Student Loans program is an income contingent Australian Government loan program that helps eligible students enrolled in approved courses at diploma level or above, pay their tuition fees. The loan has income-contingent repayment arrangements, which means you only need to make repayments if you are earning above the minimum repayment threshold. You can make voluntary repayments at any time.

If you are an eligible student, the Department of Education, Skills and Employment (the Department) may approve your VET Student Loan for an approved course. The Department will pay your loan directly to your approved course provider. You will be responsible for any gap amount in the tuition fees, which are not covered by the loan. You will owe a debt to the Australian Government for the loan, which will be managed by the Australian Taxation Office (ATO).

Please Note - Students must be aware that VET Student Loans will not be approved for students who do not meet eligibility requirements and that a VET student loan gives rise to a VETSL debt that continues to be a debt due to the Commonwealth until it is repaid.


Stanley College offers four courses under the VET Student Loans framework:

BSB50215 Diploma of Business

Course Duration: 52 weeks*
Course Fee: $9,800
VET Student Loan $9,800, $0 Upfront Cost
Career Opportunities: Executive Officer, Program Consultant, Program Coordinator

BSB51918 Diploma of Leadership and Management

Course Duration: 78 weeks*
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Business Manager, Human Resources Manager, Sales Team Manager

CHC50113 Diploma of Early Childhood Education and Care

Course Duration: 55 weeks^
Course Fee: $15,500
VET Student Loan $15,500, $0 Upfront Cost
Career Opportunities: Early Childhood Educator, Day Care Centre Supervisor / Manager, Preschool Supervisor / Manager, Kindergarten Supervisor / Manager

^This course includes no holidays.

SIT50416 Diploma of Hospitality Management

Course Duration: 52 weeks*
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Banquet or Function Manager, Restaurant Manager, Bar and Cafe Manager, Club Manager, Motel Manager, Unit Manager (Catering Operations)

BSB60215 Advanced Diploma of Business *

Course Duration: 52 weeks*
Course Fee: $9,800
VET Student Loan $5,264 + Student Contribution $4,536
Career Opportunities: Executive Manager or Director, Manager, Human Resources (Strategy), Senior Executive

BSB61015 Advanced Diploma of Leadership and Management*

Course Duration: 78 weeks*
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Area Manager, Department Manager, Regional Manager

SIT60316 Advanced Diploma of Hospitality Management *

Course Duration: 52 weeks*
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Area Manager or Operations Manager, Cafe Owner or Manager, Club Secretary or Manager, Motel Owner or Manager, Food and Beverage Manager, Executive Chef, Head Chef, Executive Sous Chef

PSP50916 Diploma of Interpreting (LOTE-ENGLISH)*

Course Duration: 26 weeks
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Interpreter, Communication Officer, Office Assistant

PSP60816 Advanced Diploma of Translating*

Course Duration: 26 weeks
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Translator, Communication officer, Office assistant

Course Duration: 52 weeks*
Course Fee: $9,800
VET Student Loan $9,800, $0 Upfront Cost
Career Opportunities: Executive Officer, Program Consultant, Program Coordinator

Course Duration: 78 weeks*
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Business Manager, Human Resources Manager, Sales Team Manager

Course Duration: 55 weeks^
Course Fee: $15,500
VET Student Loan $15,500, $0 Upfront Cost
Career Opportunities: Early Childhood Educator, Day Care Centre Supervisor / Manager, Preschool Supervisor / Manager, Kindergarten Supervisor / Manager

^This course includes no holidays.

Course Duration: 52 weeks*
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Banquet or Function Manager, Restaurant Manager, Bar and Cafe Manager, Club Manager, Motel Manager, Unit Manager (Catering Operations)

Course Duration: 52 weeks*
Course Fee: $9,800
VET Student Loan $5,264 + Student Contribution $4,536
Career Opportunities: Executive Manager or Director, Manager, Human Resources (Strategy), Senior Executive

Course Duration: 78 weeks*
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Area Manager, Department Manager, Regional Manager

Course Duration: 52 weeks*
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Area Manager or Operations Manager, Cafe Owner or Manager, Club Secretary or Manager, Motel Owner or Manager, Food and Beverage Manager, Executive Chef, Head Chef, Executive Sous Chef

Course Duration: 26 weeks
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Interpreter, Communication Officer, Office Assistant

Course Duration: 26 weeks
Course Fee: $10,500
VET Student Loan $10,500, $0 Upfront Cost
Career Opportunities: Translator, Communication officer, Office assistant

* Course duration includes holidays.
* Please note: Figures quoted are estimates and may vary.

Residency

The VET Student Loans program has strict citizenship, visa and residency requirements. It is not available for all Australian residents. To be eligible, students must be either:

  • An Australian citizen (If you are born on or after 20 August 1986 you will be required to supply additional evidence if you are using your birth certificate as evidence); OR
  • The holder of a permanent humanitarian visa who is usually resident in Australia; OR
  • A New Zealand Special Category Visa (SCV) holder who meets the long term residency requirements.

Please note – Other permanent residents/permanent visa holders are NOT eligible for a VET Student Loan.

Student Eligibility Requirements

To receive a VET Student Loan, you must:

  • be an eligible student;
  • be studying an approved course;
  • studying with an approved course provider;
  • apply to the government using the approved form, which will be managed through your provider;
  • submit Progression Forms to confirm your ongoing engagement with your studies, and continue accessing the loan throughout your course.

Academic

Stanley College must not only be able to believe on reasonable grounds that you are academically suited to the course for which you are seeking VET Student Loan support (including satisfying entry requirements for the course in question). You must be able to satisfy one of the following requirements:

  • Provide a copy of a Senior Secondary Certificate of Education that has been awarded to you by an agency or authority of a State or Territory for the completion of year 12; OR
  • Provide an International Baccalaureate Diploma Programme (IB) diploma; OR
  • Provide evidence of successful completion of a qualification that has been delivered in English and:
    • was at level 4 or above in the Australian Qualifications Framework (i.e. Certificate IV or higher qualification), or at a level in a framework that preceded the AQF that is equivalent to level 4 or above in the AQF; OR
    • has been assessed by a Federal, State or Territory government agency which assesses overseas qualifications (or an organisation contracted by such an agency to undertake such assessments) as equivalent or comparable to: a qualification at level 4 or above in the Australian Qualifications Framework, or a qualification at a level in a framework that preceded the AQF that is equivalent to level 4 or above in the AQF; OR
  • Approved LLN Test: If you cannot provide either of the above documents, you will be required to display competence at Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy.

Stanley International College will assess your competence using the Australian Government approved assessment tool.

For Students Under 18

For students that wish to apply for a VET Student Loan that are under 18 years of age, one of the following documents is required:

  • One of the signatories to the application must be a responsible parent of the student (by submission of the signed parental consent form from Stanley College); OR
  • A Centrelink Income Statement detailing that you have received Youth Allowance because you are deemed independent.

Additional Eligibility Requirements

In order to be eligible for a VET Student loan, you must also meet all of the following Criteria:

  • Your HELP balance (the amount of your HELP loan limit you have left) is more than $0. This means you have enough HELP loan limit remaining for your proposed studies to be covered by the loan. The HELP loan limit is the limit on how much you can borrow. Any borrowing under FEE-HELP, VET FEE-HELP, VET Student Loans and, from 1 January 2020, HECS-HELP will count towards your HELP loan limit.
  • You are enrolled with an approved course provider in an approved course and have enrolled in accordance with the application requirements.
  • You are studying the approved course primarily at a campus in Australia.
  • VET Student Loans Information Booklet – You must have read and understood the provided Information Booklet;
  • Electronic Commonwealth Assistance Form (eCAF) – You must have submitted the eCAF form by the census day for the first unit of the course you are applying for funding for and no less than two business days after enrolling. Please note: the census day is the last day you can apply for a VET Student Loan for that unit of study.
  • Student Engagement and Progression – During the course of your loan period, to continue to access your VET Student Loan you must complete this survey at least twice per calendar year in the eCAF system within the duration of your course. (Further information is available at the following link VET Student Loans – Student engagement and progression)

Eligibility Tool

The Department of Education, Skills and Employment has developed a new VSL Eligibility Tool. This tool will:

  • Help you to gauge whether you qualify for a VSL;
  • Provide additional information about what documentation you need to provide to Stanley College when you are applying for a VSL.

The VSL Eligibility Tool is available for prospective students to use on the MySkills website via VSL Eligibility Tool.

How to apply

To apply for a VET Student Loan you must complete the Request for a VET Student Loan eCAF on or before the census date; however, once you have enrolled in your course with Stanley College you must wait at least two full business days before you submit your eCAF.

After two business days has passed Stanley College will register your interest with the Australian Government that you wish to apply for a VET Student Loan. At this point you will receive a log in and password to complete your eCAF.

Please note: If you do not complete and submit your eCAF by the census date, you would be liable for all tuition fees payable for that fee period.

Student Obligations

The Department of Education, Skills and Employment has developed a new Student Obligations Fact Sheet aimed helping you understand VSL obligations regarding engagement with the eCAF system and Progression Forms. This is available at the following link: https://docs.employment.gov.au/documents/student-obligations

Repaying your VETSL debt

Your VET Student Loans debt forms part of your accumulated VETSL debt. You must start repaying your VETSL debt through the tax system once your income is above the compulsory repayment threshold, even if you are still studying. More information about VETSL debt repayments, including how the ATO calculates your compulsory repayment, is available at www.studyassist.gov.au.

The threshold is adjusted each year and for the 2019-20 income year, it is $45,881 or above. Repayments made through the Australian taxation system are called ‘compulsory repayments’ and continue until you have repaid your whole debt.

How much you must pay back is calculated from the amounts given on your income tax return for:

  • Your taxable income,
  • Reportable fringe benefits (reported on your payment summary),
  • Total net investment loss (including net rental loss),
  • Reportable super contributions, and
  • Exempt foreign employment income amounts.

From 1 July 2017, anyone who has a VETSL debt, and earns above the minimum repayment threshold, will be required to repay their debt regardless of where they live, whether in Australia or overseas. Further information is available in the VET Student Loans Information Booklet.

The VET Student Loans program has strict citizenship, visa and residency requirements. It is not available for all Australian residents. To be eligible, students must be either:

  • An Australian citizen (If you are born on or after 20 August 1986 you will be required to supply additional evidence if you are using your birth certificate as evidence); OR
  • The holder of a permanent humanitarian visa who is usually resident in Australia; OR
  • A New Zealand Special Category Visa (SCV) holder who meets the long term residency requirements.

Please note – Other permanent residents/permanent visa holders are NOT eligible for a VET Student Loan.

To receive a VET Student Loan, you must:

  • be an eligible student;
  • be studying an approved course;
  • studying with an approved course provider;
  • apply to the government using the approved form, which will be managed through your provider;
  • submit Progression Forms to confirm your ongoing engagement with your studies, and continue accessing the loan throughout your course.

Stanley College must not only be able to believe on reasonable grounds that you are academically suited to the course for which you are seeking VET Student Loan support (including satisfying entry requirements for the course in question). You must be able to satisfy one of the following requirements:

  • Provide a copy of a Senior Secondary Certificate of Education that has been awarded to you by an agency or authority of a State or Territory for the completion of year 12; OR
  • Provide an International Baccalaureate Diploma Programme (IB) diploma; OR
  • Provide evidence of successful completion of a qualification that has been delivered in English and:
    • was at level 4 or above in the Australian Qualifications Framework (i.e. Certificate IV or higher qualification), or at a level in a framework that preceded the AQF that is equivalent to level 4 or above in the AQF; OR
    • has been assessed by a Federal, State or Territory government agency which assesses overseas qualifications (or an organisation contracted by such an agency to undertake such assessments) as equivalent or comparable to: a qualification at level 4 or above in the Australian Qualifications Framework, or a qualification at a level in a framework that preceded the AQF that is equivalent to level 4 or above in the AQF; OR
  • Approved LLN Test: If you cannot provide either of the above documents, you will be required to display competence at Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy.

Stanley International College will assess your competence using the Australian Government approved assessment tool.

For students that wish to apply for a VET Student Loan that are under 18 years of age, one of the following documents is required:

  • One of the signatories to the application must be a responsible parent of the student (by submission of the signed parental consent form from Stanley College); OR
  • A Centrelink Income Statement detailing that you have received Youth Allowance because you are deemed independent.

In order to be eligible for a VET Student loan, you must also meet all of the following Criteria:

  • Your HELP balance (the amount of your HELP loan limit you have left) is more than $0. This means you have enough HELP loan limit remaining for your proposed studies to be covered by the loan. The HELP loan limit is the limit on how much you can borrow. Any borrowing under FEE-HELP, VET FEE-HELP, VET Student Loans and, from 1 January 2020, HECS-HELP will count towards your HELP loan limit.
  • You are enrolled with an approved course provider in an approved course and have enrolled in accordance with the application requirements.
  • You are studying the approved course primarily at a campus in Australia.
  • VET Student Loans Information Booklet – You must have read and understood the provided Information Booklet;
  • Electronic Commonwealth Assistance Form (eCAF) – You must have submitted the eCAF form by the census day for the first unit of the course you are applying for funding for and no less than two business days after enrolling. Please note: the census day is the last day you can apply for a VET Student Loan for that unit of study.
  • Student Engagement and Progression – During the course of your loan period, to continue to access your VET Student Loan you must complete this survey at least twice per calendar year in the eCAF system within the duration of your course. (Further information is available at the following link VET Student Loans – Student engagement and progression)

The Department of Education, Skills and Employment has developed a new VSL Eligibility Tool. This tool will:

  • Help you to gauge whether you qualify for a VSL;
  • Provide additional information about what documentation you need to provide to Stanley College when you are applying for a VSL.

The VSL Eligibility Tool is available for prospective students to use on the MySkills website via VSL Eligibility Tool.

To apply for a VET Student Loan you must complete the Request for a VET Student Loan eCAF on or before the census date; however, once you have enrolled in your course with Stanley College you must wait at least two full business days before you submit your eCAF.

After two business days has passed Stanley College will register your interest with the Australian Government that you wish to apply for a VET Student Loan. At this point you will receive a log in and password to complete your eCAF.

Please note: If you do not complete and submit your eCAF by the census date, you would be liable for all tuition fees payable for that fee period.

The Department of Education, Skills and Employment has developed a new Student Obligations Fact Sheet aimed helping you understand VSL obligations regarding engagement with the eCAF system and Progression Forms. This is available at the following link: https://docs.employment.gov.au/documents/student-obligations

Your VET Student Loans debt forms part of your accumulated VETSL debt. You must start repaying your VETSL debt through the tax system once your income is above the compulsory repayment threshold, even if you are still studying. More information about VETSL debt repayments, including how the ATO calculates your compulsory repayment, is available at www.studyassist.gov.au.

The threshold is adjusted each year and for the 2019-20 income year, it is $45,881 or above. Repayments made through the Australian taxation system are called ‘compulsory repayments’ and continue until you have repaid your whole debt.

How much you must pay back is calculated from the amounts given on your income tax return for:

  • Your taxable income,
  • Reportable fringe benefits (reported on your payment summary),
  • Total net investment loss (including net rental loss),
  • Reportable super contributions, and
  • Exempt foreign employment income amounts.

From 1 July 2017, anyone who has a VETSL debt, and earns above the minimum repayment threshold, will be required to repay their debt regardless of where they live, whether in Australia or overseas. Further information is available in the VET Student Loans Information Booklet.

*For further information download the VSL Enrolment Guidelines from this webpage

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