VET student loans

VET Student Loans is an Australian Government loan program that helps eligible students studying Diploma level and above vocational education and training qualifications by offering income contingent loan. A person’s access to a VET Student Loans is approved by the Australian Government Department of Education and Training. You access the loan for your course, and the debt is then managed by the Australian Taxation Office (ATO). You will repay your debt through the Australian tax system when you reach the minimum income threshold for repayment. A VET Student Loans will remain a personal debt until it is repaid to the Commonwealth; and 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. Students may wish to seek independent financial advice before applying for a loan.

The loan is issued by the Australian Government to make higher education more accessible, by removing the burden of upfront tuition fees. Ongoing access to a VET Student Loans is dependent upon the student demonstrating that they are still engaged in and progressing through their qualification.

The VET Student Loans Scheme pays eligible students’ tuition fees. This means students can focus on their career and repay the Australian Government loan when their income is higher than the minimum repayment threshold. The Australian Tax Office (ATO) calculates and adjusts repayments each year. Students can also make voluntary repayments to the ATO. Best of all, there is no interest charged on VET Student Loans, however a 20% loan fee does apply for full fee-paying students.

This Commonwealth Government program allows students to access loans for qualifications that:

• Have a high national priority.
• Meet industry needs.
• Contribute to addressing skills shortages.
• Lead to employment outcomes.

The loan applies to approved qualifications at a Diploma level or above. The Study Assist website has detailed information about VET Student Loans debts and repayments. Prospective students can also refer to the VET Student Loans Information Booklet for more information.

For complete information about VET Student Loans, also refer to the Department of Education, Skills and Employment VET Student Loans webpage.

To be eligible to apply for VET Student Loans a participant must meet the following eligibility criteria:

• Be an Australian citizen, a qualifying New Zealand citizen (1), or a permanent humanitarian visa holder who is usually resident in Australia, or a pacific engagement visa holder who is usually resident in Australia (2). [the applicant must provide evidence to Mastery Institute Australia (MIA)]
• 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.
• Meet the Tax File Number (TFN) requirements
• Be enrolled on or before the first census date of your course (or entry point into the course) by completing
  an Electronic Commonwealth Assistance Form (eCAF)
• Have a Unique Student Identifier (USI) or are otherwise exempt
• Have read the VET Student Loans information booklet
• Have given the required documents to MIA and submitted the loan application form by the first census day no less than two business days after enrolling
• Meet MIA course entry requirement
• Be academically suited to undertake the approved course on the basis of either:
  1. Providing your Australia Year 12 Certificate; OR
  2. Providing your International Baccalaureate Diploma Programme (IB) diploma OR
  3. Providing a copy of certificate showing you have been awarded a qualification at level 4 or above in the Australian Qualifications Framework (where the language of instruction was English) or at a level in a framework that preceded the AQF and is equivalent to level 4 or above in the AQF OR
  4. Displaying competence at Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy through an approved Language, Literacy and Numeracy test.

In addition, your approved course provider must reasonably believe you show competence in completing the course.

To see if you are likely to meet the eligibility requirements, check out the VET Student Loans Eligibility Tool on the My Skills website. Detailed eligibility information can be found in the VET Student Loans Information Booklet. You should also speak to an approved VET Student Loans provider about accessing a VET Student Loans to pay for your studies. The provider will confirm if you are eligible to access a VET Student Loans (3).

Note:

• Holds a special visa category, such as the New Zealand Special Category Visa (SCV);
• Has been usually resident in Australia for at least 10 years;
• Was a dependent child aged under 18 years of age when he or she was first usually resident in Australia;
• Has been in Australia for periods totaling 8 years during the previous 10 years; and
• Has been in Australia for periods totaling 8 months during the previous 2 years.

(2) VSL eligibility for pacific engagement visa holders usually resident in Australia applies to VSL course of study and/or units which have census dates on or after 1 February 2024.

(3) VET student loans will not be approved for students who do not meet eligibility requirement.

Definitions in this section:

Course: refers to a course that has been approved for eligible Students to use a VET student loans to pay for all or part of their tuition fees. Tuition Fees: refers to fees paid for a Course.

Census Day: refers to a published date set by an approved course provider for each fee period that is at least 20% of the way through the fee period. it is the date by which enrolment may be cancelled without incurring tuition fees for the course or a part of the course (unit of study) is a census date. If a student withdraws before the census day for a course or part of a course, the student will not incur a VET student loans debt for the course or part of the course and will receive a refund for any tuition fees already paid for the course or part of the course.

Mastery Institute Australia (MIA) is an approved provider under the VET Student Loans Scheme from the 1st July 2017. Eligible students can only access VET Student Loans for approved qualifications.

The amount a student can borrow on a VET Student Loans cannot exceed their remaining FEE-HELP balance or exceed the loan limit set for each qualification (refer to capped amounts specified below).

VET Student Loans are available for the following approved qualification offered through MIA:

• HLT52021 Diploma of Remedial Massage

  (Cost $7,500.00) capped at $18,838 (2025 Loan cap amount)

• SHB50121 Diploma of Beauty Therapy

  (Cost $16,000.00) capped at $18,838 (2025 Loan cap amount)

To access a VET Student Loans, a student must be enrolled at a VET Student Loans approved training provider that is approved to offer the VET Student Loans approved course. Once you have made the decision to apply for a qualification, you will need to complete MIA’s Domestic Application Form. There will be an option to choose VET Student Loans under Part G: VET Student Loans Section. MIA is committed in providing all students with equal and fair opportunity to pursue their training and development. MIA will treat fairly to all students seeking to enrol in an approved course. The following is the application process for VET Student Loans:

1. Students are required to read the VET Student Loans information booklet before applying for a VET Student Loans. All students must read this booklet when applying for a VET Student Loans.

2. MIA will assess the student’s eligibility for a loan (refer to Eligibility Requirements). If assessed as eligible, MIA will advise the Australian Government that the student wishes to apply for VET Student Loans. The Australian Government will email the student log in details and password to access and complete an eCAF (the Australian Government’s electronic Commonwealth Assistance Form).

3. A student cannot submit an eCAF earlier than two business days after the enrolment date in the eCAF. This ensures that students have adequate time to consider their decision to take on a loan.

4. The eCAF must be submitted on or before the census day for the approved qualification.

5. After submitting the eCAF, the student receives a receipt via email with confirmation that the application has been approved.

6. The application process is now complete.

Please see eCAF Fact Sheet provided by The Australian Government, detailing the application and progression process for the student.

All students wishing to apply for a Commonwealth VET Student Loans must be assessed for academic suitability to undertake a high level VET qualification. This is aimed at ensuring students have the skills and knowledge to succeed in their qualification.

Tuition fees are charged per unit of study, as outlined in our Schedule of Tuition Fees. Your course will consist of three or four fee periods, with payments spread proportionately throughout the duration of your course.

In the event that your course costs exceed the VET Student Loans Cap, you will be required to pay the difference, referred to as a gap, between the course fees and the VET Student Loans Cap before your first census day. MIA may offer payment plans to assist you in covering the gap amount.

Prior to the first census day for your course, MIA will provide you with a Statement of Covered Fees, confirming the acceptance of your enrollment and specifying the amounts of course tuition fees will be covered and not covered under a VET Student Loans. This Statement of Covered Fees will be sent directly to your designated personal email address.

In addition, you will receive a VET Student Loans Fee Notice at least 14 days before each census day, indicating the tuition fees that will be covered and not covered under a VET Student Loans for that particular fee period. It is your responsibility to review the information and notify us of any discrepancies.

Your debt is incurred on the day after the census day.

If you withdraw your enrollment on or before the census day, you will not incur tuition fees for that fee period, including fees covered by the VET Student Loans and any gap or upfront fees paid.

After the census day and the submission of your Commonwealth Assistance Form (eCAF), MIA will issue you a Commonwealth Assistance Notice (CAN), providing further information about your debt. If you believe your CAN is incorrect, you should contact MIA immediately.

Before applying for a VET Student Loans, it’s important to understand your entitlements and obligations. For more details, please refer to:

• VET Student Loans Information Booklet
• VSL Student Obligations Fact Sheet
• VET Information for Student webpage from the Department of Education, Skills and Employment
• Study Assist website

If you wish to change or withdraw from your course, or if you wish to withdraw from some units, you need to contact MIA to complete the relevant forms.

If you make these changes before the relevant census date of your units of study, the tuition fees will be cancelled and any relevant tuition fee amounts you have paid will be refunded.

If you make these changes after the census date, the tuition fees that have been added to your HELP debt under VET Student Loans cannot be cancelled and have to be repaid as normal. If there were special circumstances preventing you from acting before the census date, please read the relevant section in:

• VET Student Loans – Information for Students.
• MIA VET Student Loans Policy and Procedure (Withdrawal and Cancellation Procedure).

Effective January 1, 2017, the Australian Government replaced the VET FEE-HELP loan program with the VET Student Loans program. To ensure a smooth transition for students continuing their studies under VET FEE-HELP in 2017, the government implemented ‘grandfathering’ arrangements.

As per subparagraph 43(3)(b)(ii) of Schedule 1A to the Higher Education Support Act 2003, access to VET FEE-HELP under exceptional circumstances ceased on December 31, 2018, for all students. Consequently, students cannot utilize VET FEE-HELP for tuition fee payments for units of study with a census date on or after January 1, 2019.

If you’re enrolled in a course approved for VET Student Loans, you may qualify to transition to this scheme. For further details, please reach out to us or visit the VET Student Loans webpage on the Australian Government’s Department of Education, Skills and Employment website.

New VET FEE-HELP Student redress measures

As of January 1, 2019, the VFH Student Redress Measures were implemented to offer recourse to students who, as a result of the misconduct of their VET provider, accrued debts under the VFH Scheme.

The Student Redress program concluded on December 31, 2023. As of this date, students are no longer able to submit claims for a VFH loan re-credit under the Student Redress Measures.

For individuals with complaints regarding their VFH debt that they couldn’t resolve with their training provider, the VET Student Loans Ombudsman (VSLO) within the Office of the Commonwealth Ombudsman serves as the primary point of contact. This encompasses previous complaints lodged under the VFH Student Redress Measures.

If you have any questions or need additional information please visit the links below:

• VET Student Loans (Department of Education, Skills and Employment)
• Centrelink
• Australian Tax Office (ATO)
• My Skills – Australia’s training directory
• Commonwealth Ombudsman (VET Student Loans)
• National Training Complaints Hotline on 13 38 73 or lodge the National Training Complaints Hotline complaints form

Please see Student Progression Fact Sheet provided by The Australian Government.

Please note: If students do not confirm their continuing engagement and participation using the Progression Form, they may be ineligible to continue accessing a VET student loans for the rest of their tuition fees.