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 $10,000 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 2016-2015 is $54,869 per year ($1055 per week). Once a student earns $1055 per week, their required weekly repayment is approximately $43 per week. Download the VET STUDENT LOANSTUDENT 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 detailsACPET.
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:
Tax file number
Student must acknowledge they have read and understood the terms and conditions of the application
Student confirmation the information contained in the application is accurate
Student Identification Number
Students under 18 will be required to print out the application form and a signature from a guardian will be needed. The application will then need to be given to the college.
In the instance where a student is under 18 but is non dependent, proof of independence will be required.
By signing and submitting the form the person accepts that the VET Provider will automatically use the VET Student Loan for those VET units of study and the this will contribute to the course unless the student advises the college in writing that they do not wish to use VET Student Loans as their method of paying tuition fees.
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:
Entry criteria must be satisfied
Be a full paying student
Be an Australian Citizen or hold a Permanent Humanitarian sub-class visa
Have not been offered an inducement to undertake the qualification of study;
Be a New Zealand citizen who:
Holds a special category visa
First entered Australia as a minor under 18 years of age
Has lived in Australia for 8 of the last 10 years
Has lived in Australia for at least 18 months in the past 2 years.
Have a FEE-HELP balance greater than zero – that is, they have not exceeded their FEE-HELP limit;
Be enrolled in a unit of study that meets the course requirements;
Be enrolled in the unit of study on or before the census day for the unit and remain enrolled at the end of the census day;
Meet the Tax File Number (TFN) requirements;
Have completed, signed and lodged with Department of Education and Training a Request for a VET Student Loan. This must be at least 2 days after enrolment in a unit or units of study and 14 days before the scheduled census day.
You will also be required to advise the Secretary of Department of Education and Training you wish to continue to use the VET Student Loan scheme throughout the course.
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.
For further VET STUDENT LOAN information please visit the Australian Government VET STUDENT LOAN website.
".I originally chose Casey College of Beauty Therapy because of the location and the fact that there was a payment option available, as well as convenient hours that fitted around my children's school times. What I actually got was a lot more than that. The tutors at the college are outstanding, with all the knowledge, care and attention that you could ever need. The support I received throughout the year, with my changing circumstances, was amazing. The course structure and content was extensive, with the option of furthering my education or amending it at any time."