WHAT IS VET STUDENT LOANS?
VET Student Loans is a scheme provided by the Australian Government to enable eligible full-fee paying students the opportunity to apply for a loan. VET STUDENT LOAN assists eligible full fee-paying students undertaking the SHB50115 Diploma of Beauty Therapy to pay a $10,150 contribution towards students tuition fees. This loan is to assist in the payment of all or part of a student’s tuition fees for a VET course of study in which the student is enrolled.
In order to be eligible for VET STUDENT LOANS, applicants must be an Australian Citizen and hold (or be applying for ) a Tax FIle Number and meet the student entry procedure requirements - see the VET STUDENT LOAN website and download the 2018 student booklet for full details of eligibility requirements.
Students repay their loan to the Australian Government through the tax system once a student earns the minimum threshold level for repayment, which for 2017-2018 is $55,874 per year ($1075 per week). Once a student earns $1075 per week, their required weekly repayment is approximately $43 per week.
Download the VET STUDENT LOAN STUDENT BOOKLET booklet for full repayment details.
The loan will remain as a personal debt obligation until it is repaid to the Commonwealth. The signed Request for Commonwealth Assistance form applies to a loan for the entire VET course of study and is charged on a unit of study basis unless the student pays some of the tuition fees.
The loan is spread across the course with 4 census days one in each fee period. This scheme is an extension of the FEE-HELP scheme (currently applicable to higher education students) and extends to students studying one or more of the following courses:
Tuition Assurance : Casey College of Beauty Therapy is a member of the ACPET Australian Tuition Assurance Scheme (ASTAS). Click on the link for further details ACPET.
HOW DO I ACCESS A VET STUDENT LOAN?
After attending an individual course consultation to ensure that the applicant is making an informed decision about their career pathway. During this enrolment process, the applicant will undertake a Language, Literacy and Numeracy test to
after the course consultation to ensure that the applicant is academically suited to the chosen course. The application must
also satisfy the student entry requirements. Casey College of Beauty Therapy will advise the Department of Education that you wish to access the VET Student Loan scheme.
After enrolment, the applicant will then receive an email from the Department of Education with a username and password. You will require these details to create an online application. You will need a USI number and tax file number when applying online.
All applications are signed electronically and the application will be treated as having been signed if the communication contains:
STUDENT WITHDRAWAL PROCEDURES
Students who wish to withdraw from a vet course of study or from a vet unit of study must do so in writing to the College Director.
REFUND POLICY (vet student loan eligible course)
A full refund will be issued to a student if the course has been cancelled or delayed for three weeks or more, If a student makes the decision to withdraw from the course prior to commencement of the course then a full refund minus the $100 deposit will apply,
If a Student withdraws from a vet course of study or a vet unit of study before the vet student loan census date then the student will not incur a Vet Student Loan debt for that unit of study. A withdrawal fee will not apply and any tuition fees that have already been paid prior to commencing will be refunded.
If a Student withdraws from a vet course of study or a vet unit of study after the vet student loan census date then the student will incur a Vet Student Loan debt for the unit of study. A refund will not be issued and any refund of tuition fees paid upfront is not applicable.
Casey College will issue an invoice 14 days prior to the census day for each unit of study. You will also receive a VET Student Loan Fee Notice 14 days before course commencement. On the census day the student will incur a VET Student Loan debt for the units of study contained in the invoice notice if the student has not withdrawn from the VET unit of study prior to the census day indicated on the invoice notice or has paid upfront some or all the amounts due for the VET unit of study.
AM I ELIGIBLE FOR VET STUDENT LOANS ASSISTANCE?
In order to be eligible for VET Student Loans assistance, a student must meet the following requirements:
WHAT IS THE ENTITLEMENT UNDER THE VET STUDENT LOANS SCHEME?
Over their lifetime, a student will be able to borrow up to the amount of their FEE-HELP limit which is indexed annually by the Australian Government. Repayments do not reset the maximum that can be borrowed.
The FEE-HELP limit for 2017 is $100,879 for most students.
WHAT DO VET STUDENT LOANS COVER?
VET Student Loans extends only to tuition fees. It does not cover accommodation and general living expenses. It is important to note that a loan fee of 20% applies to VET Student Loans. This fee is payable to the Australian Government and added to your loan. It is also not included in the FEE-HELP limit.
PLEASE NOTE: VET Student Loans will not be approved for students who do not meet eligibility requirements. A VET student loan gives rise to a HELP debt that continues to be a debt to the Commonwealth until it is repaid.
STUDENTS UNDER THE AGE OF 18
If you are under 18 years of age, a parent or guardian must co-sign the form. However, this is not necessary if you have been assessed by Centrelink as meeting the requirements for receiving the independent rate of Youth Allowance under part 2.11 of the Social Security Act 1991.
You will need to provide evidence of this assessment in the form of your Centrelink Income Statement, which you can request by logging into myGov and selecting your Centrelink online account.
For more information, visit www.humanservices.gov.au/customer/enablers/request-document-using-your-centrelink-online-account.
For further VET STUDENT LOAN information please visit the Australian Government VET STUDENT LOAN website.
To attend our Information Session click on the following link:
FEES AND CENSUS DATES
POLICIES AND PROCEDURES
VSL Re Credit Policy and Procedure 2018
VSL Fair Treatment and Equal Benefits and Opportunity Policy
VSL Student Withdrawal from Study Policy and Procedure
VSL Access and Equity Policy and Procedure
VSL1 - Admission Policy and Procedure - VET STUDENT Loans
VSL4.1-Academic Student Grievance Policy and Procedure
VSL4.2-Non Academic Student Grievance Policy and Procedure
VSL2.1 - Application to Withdraw Form - VET STUDENT Loans
VSL2.3 - Remission of fees under special circumstances form - VET STUDENT Loans
VSL3.1 - Complaints Grievances and Appeals Form - VET STUDENT Loans
Check your eligibility for a Vet Student Loan by visiting www.studyassist.gov.au and entering your details in the eligibility tool.