Using a VET Student Loan For Your Course
Australis College is a government-approved Vet Student Loan (VSL) provider, able to offer the VET Student Loan program to eligible students to assist them in paying for their course tuition fees upfront for some of our approved Diploma level courses. Please check the applicable course webpage to check if this option is available for the course that is of interest to you.
So what is a VET Student Loan?
VET Student Loans is an Australian government loan program that is available to assist eligible students studying higher-level vocational education and training (VET) qualifications to pay for their tuition fees. Higher-level VET qualifications are at the diploma level and above.
The federal government applies a one-off 20% loan fee to your loan amount and results in a VETSL debt to be repaid to the government through the taxation system once you reach the compulsory threshold, even if you are studying. The debt is incurred once you reach your census day for each part of your course, and the VETSL debt continues to be a debt payable to the Commonwealth until it is repaid.
See below for more information and contact our friendly course consultants on 1300 887 991.
Information about VET Student Loans
VET Student Loans is a loan from the Commonwealth and:
- The loan will remain a personal debt until it is repaid to the Commonwealth
- The loan may, until the debt is repaid, reduce a student’s take‑home (after‑tax) wage or salary and may reduce the student’s borrowing capacity
- A student may wish to seek independent financial advice before applying for a loan
How do I know if I’m eligible?
To apply for a VET Student Loan, you must meet:
- citizenship and residency criteria (be an Australian Citizen, qualifying New Zealand Citizen or permanent humanitarian visa holder who is usually resident in Australia. See tab below for further information)
- the government’s academic suitability requirements (See tab below for further information)
- be studying with an approved course provider
- be studying an approved course
- apply using the approved Electronic Commonwealth Assistance Form (eCAF)
- Confirm your commitment throughout the duration of your course to continue to access the loan.
- have a fee balance more than zero ($0)
- be eighteen (18) years of age or older unless you have a parental consent form signed by a responsible parent, or can satisfy being independent under the Social Security Act 1991, and can provide evidence on Centrelink Income Statement
- meet TAX File number requirements
- Have or obtain a Unique Student Identifier (USI)
- Supply the required evidence/documentation to submit loan application
- Submit the application form by the first census date or no less than two (2) business days after enrolling.
If you cannot meet eligibility requirements, you will not be approved for a VET Student Loan.
Citizenship and Residency criteria
Click on the relevant tab above to determine if you can apply and the evidence requirements you will need to supply Australis College.
Please refer the relevant Tab below to check your eligibility.
VET Student Loan Academic Suitability Requirements
To be eligible to be considered for a VET Student Loan, all students enrolling in an approved VSL course must meet the Academic Suitability Requirements.
Students must provide evidence of one of the following documents:
- Australian Senior Secondary Certificate of Education for Year 12 or
- AQF level 4 and higher Qualification delivered in English or at a level in a framework that preceded the AQF that is equivalent to level 4 or above in the AQF or
- International Baccalaureate Diploma Programme (IB) diploma or
- Certificate of an overseas Qualification delivered in English and a letter or certificate issued by a Federal, State or Territory government agency which assesses overseas qualifications (or an organisation contracted by such an agency to undertake such assessments), that evidences that the student’s qualification has been assessed and determined to be equivalent or comparable to a qualification in the AQF at level 4 or above
If the above cannot be provided, then students must complete the Government Approved ACER Core Skills Profile for Adults (CSPA) and successfully complete the reading and numeracy tests to an Exit level 3 or higher.
Australis College must also be satisfied that the student can successfully complete the course they are enrolling into and therefore reserves the right to decline a VET Student Loan application or request the student complete an internal Core Skills Assessment before enrolment.
How do I apply?
To apply for a VET Student Loan, you will need to complete an online Electronic Commonwealth Assistance Form (eCAF) and will require your tax file number (TFN).
Before you sign and submit your form, you must read the VET Student Loan Student Information Booklet 2017. The form will ask you to provide your TFN. 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 (ATO) after you have applied for a TFN. Contact the ATO on 13 28 61 for TFN information.
You must submit the signed and completed form to your provider by the census date or administrative date. If you do not submit your form on or before the census date, you will not be eligible for a VET Student Loan.
Click on the link below to view the Australis College course fees and schedules:
Guide to completing your eCAF
What is an eCAF?
An eCAF stands for electronic Commonwealth Assistance Form. It is an online system for students to request a VET Student Loan.
Who should complete an eCAF?
Any eligible student enrolled within an approved VET Student Loan course and wishing to apply for VET Student Loans will need to complete an eCAF form prior to their first census date.
How do I complete an eCAF?
To complete the eCAF form, you will need a tax file number (TFN) and the eCAF logins details provided by eCAF systems via email. The login details will be sent to you 2 business days after your enrolment is finalised.
Follow the links and instructions on the email to access your eCAF form. Please verify the pre-populated information and complete all mandatory fields.
If you are aged under 18 years, please ensure you return the completed parental consent form signed by your parent or guardian prior to submitting your eCAF form.
You must complete and submit the form on or before your first census date to be eligible for VET Student Loans.
If you need assistance, please contact Student Services on 1300 887 991.
Please note: If you do not submit your eCAF by the census day, you will be liable for the tuition fees payable for that fee period.
For further information regarding the eCAF form, please review this Government eCAF fact sheet.
How much can I borrow?
There is a set maximum amount you can borrow through VET Student Loan over your lifetime; this is the VET Student Loan limit. To view the latest VET Student Loan limit read the VET Student Loan Handbook.
How do I repay the loan?
Your VETSL debt is repaid through the tax system once your repayment income is above the minimum repayment threshold for compulsory repayment, even if you are still studying. Your VETSL debt is indexed each year in line with movements in the Consumer Price Index (CPI) to maintain its real value but is otherwise interest fee.
Visit the ATO website at www.ato.gov.au for further information about VETSL debt repayments.
Helpful Links & Documents
The VET Student Loan Student Information Booklet is designed to assist students in understanding VET Student Loans, and their rights and responsibilities when accessing a VET Student Loan.
VET Student Loan Student Information. Click here.
VET Student Loans Information Booklet from the Department of Employment, Skills, Small and Family Business. Click here.
Study Assist. Click Here.
Australian Citizenship Evidence Requirements
An Australian citizen needs to meet the residency requirements for a VET Student Loan; they are only eligible if they intend to complete the course primarily at an Australian campus. A student may be eligible for a VET Student Loan to pay for part of their course if they gain Australian citizenship during their enrolment.
If an applicant does not have the citizenship documents under the relevant categories listed below they will need to apply for evidence of Australian citizenship by lodging Form 119 Application for evidence of Australian citizenship with certified copies of the required documents and the application fee with the Department of Home Affairs (Home Affairs).
New Zealand Citizen Evidence Requirements
A New Zealand citizen is eligible if they hold a Special Category Visa (SCV) and:
- has usually been resident in Australia for at least 10 years; and
- was a dependent child aged under 18-years of age when he or she first was usually resident in Australia; and
- has been in Australia for periods totalling 8 years during the previous 10 years; and
- has been in Australian for periods totalling 18 months during the previous 2 years.
Further information about HELP eligibility criteria for New Zealand Special Category Visa Holders is available at www.education.gov.au/faqs-new-zealand-special-category-visa-holders.
Evidence of eligibility and residency requirements
- New Zealand Passport, OR
- New Zealand Birth Certificate
- International Movements Record; These must prove the applicant:
- has usually been resident in Australia for at least 10 years; and
- was a dependent child aged under 18 years of age when he or she first was usually resident in Australia; and
- has been in Australia for periods totaling eight years during the previous 10 years; and
- has been in Australia for periods totaling 18 months during the previous two years
- VEVO Check conducted to search Visa status – NZ SCV subclass 444
Permanent Humanitarian Visa Holders Evidence Requirements
Students intending to apply for VET Student Loan as a permanent Humanitarian Visa holder a VEVO check will need to be conducted with the Department of Immigration and Border Protection www.border.gov.au/vevo.