What is VET FEE-HELP?
VET FEE-HELP is a Commonwealth Government loan scheme which assists students to pay for all or part of the TAFE tuition fees when studying one or more of the following eligible TAFE accredited courses at an accredited VET FEE-HELP provider:
- Advanced diploma
- Graduate certificate from a TAFE provider
- Graduate diploma from a TAFE provider
Students are able to apply for VET FEE-HELP assistance directly with providers. If eligible, students may borrow up to the FEE-HELP limit over their lifetime. The combined lifetime limit for FEE-HELP and VET FEE-HELP loan is $93,204 (as at January 2013). The FEE-HELP limit is indexed on 1 January each year.
The Commonwealth Government applies an additional 20% loan fee to the amount of VET FEE-HELP assistance provided. The loan fee will be included in your VET FEE-HELP debt to be repaid through the Australian taxation system once your repayment income is above the minimum threshold.
The VET FEE-HELP loan scheme is similar to the FEE-HELP loan scheme.
Applying for VET FEE-HELP
- Students are able to indicate their interest in applying for the VET FEE-HELP loan scheme on the eligible OUA course application forms.
- Students will then receive a paper application for VET FEE-HELP form and an information booklet in the mail.
- Students are required to lodge the completed form directly with the TAFE provider.
- TAFE providers will assess your eligibility and upon approval, OUA and/or the provider(s) will notify you of the outcome.
- The VET FEE-HELP scheme will now be available as a selection option to pay for eligible unit enrolments within the approved course.
VET FEE-HELP Facts
To be eligible for VET FEE-HELP assistance:
- You must be an Australian citizen or;
- The holder of a permanent humanitarian visa and a resident in Australia for the duration of the TAFE unit of study.
Other important information to note:
- Applications for VET FEE-HELP assistance do not incur any application fees.
- CERTIFICATE IV units and below are not eligible for VET FEE-HELP assistance.
- VET FEE-HELP assistance amounts are paid directly to the VET provider(s) by the Australian Government.
- An additional 20% loan fee is applied by the government to the VET FEE-HELP debt.
- VET FEE-HELP debt will be repaid through the Australian taxation system once your repayment income is above the minimum threshold ($49,095 for 2012-13).
- The Commonwealth Government updates VET FEE-HELP information on an annual basis.
- You will receive your Commonwealth Assistance Notice (CAN) containing information about your enrolment and use of VET FEE-HELP directly from your VET provider.
Contact our Student Advisors on 1300 363 652 if you require further assistance with VET FEE-HELP. Alternatively visit the Study Assist web site's publications page.