VET FEE-HELP
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:
- Diploma
- Advanced diploma
- Graduate certificate and;
- Graduate diploma
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 $86,422 (as at January 2011). 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 ($44,911 for 2010-11).
- 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.
Further Information:
Contact our Student Advisors on 1300 363 652 if you require further assistance with VET FEE-HELP. Alternatively visit the Department of Education, Employment and Workplace Relations (DEEWR) publications page.
