WHAT IS VET STUDENT LOANS?

VET Student Loan is a government loan available to assist eligible students studying higher level vocational education and training (VET) qualifications to pay their tuition fees. VET Student Loans can be used to pay all or part of an eligible student’s tuition fees, but cannot be used for additional study costs such as accommodation.

WHAT COURSES CAN I USE VET STUDENT LOANS FOR?

Higher level VET qualifications are considered the diploma level and above. VET Student Loans is not available for certificate level courses.

Eligible students are able to access VET Student Loans for Diploma in Aviation at Bunbury Flying School.

AM I ELIGIBLE FOR VET STUDENT LOANS?
  • are an Australian citizen, or
  • are a New Zealand Special Category Visa holder who meets long-term residency requirements,or
  • or permanent humanitarian visa holder (resident in Australia for the duration of the unit); AND
  • are a full fee-paying / fee for service student studying a diploma, advanced diploma, graduate certificate or graduate diploma level course at an approved VET Student Loans provider; OR
  • are a student subsidised by the Victorian, South Australian, Queensland or Western Australian State Government studying a diploma or advanced diploma course or a limited number of Certificate IV courses; AND
  • have not exceeded the Student Loans limit (see below); AND
    • meet the tax file number (TFN) requirements: OR
    • if you don’t have a TFN you can give your provider a Certificate of application for a TFN. This certificate is available from the Australian Taxation Office after you have applied for a TFN; AND
  • submit the Request for VET Student Loan Assistance Form to your VET provider prior to the census date.

For more information go to Am I eligible for VET Student Loans?

HOW MUCH CAN I BORROW?

Eligible students can borrow up to the Studen Loan limit to pay their tuition fees. The Student Loan limit is the total amount available to eligible students under both the VET Student Loan and Student Loan loan schemes. This means that any amount you borrow under either VET Student Loan or Student Loan will reduce your Student Loan balance (the amount of Student Loan you have left to use) until you have reached the Student Loan limit

For 2017, Diploma of Aviation course has a student Loan limit of $75,000.00

For more information go to How much can I borrow.

HOW DO I REPAY THE LOAN?

Students repay their loans through the Australian taxation system once their repayment income is above the minimum repayment threshold. Voluntary repayments may be made at any time, regardless of income. The debt is indexed each year to maintain its real value. Your VET Student Loans debt will incur a 20% loan fee

For more information go to Loan Repayment

WHAT IS THE CENSUS DATE?

The Census Date is a very important deadline for meeting various requirements.  For more information go to FAQs – Study Assist

WHERE CAN I FIND MORE INFORMATION?

For more information on VET Student Loans go to Study Assist.

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