VET Student Loan (VSL) Information
- A VSL is a loan made to Students by the Commonwealth Government.
- Students apply for a VSL through the Commonwealth’s Electronic Commonwealth Assistance Form (eCAF). The College cannot apply for a VSL on behalf of the Student.
- The loan will remain a personal debt of the Student until it is repaid to the Commonwealth.
- The Commonwealth Government applies a 20% fee to each Student that applies for a VSL. For example the amount of HELP debt the Student will accrue if the Student receives the $10,000 maximum amount of VSL for the Course will be $12,000.
- 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 VSL.
VET Student Loan Eligibility Criteria
You may be eligible for a VET Student loan if you:
- Be an eligible student
- Be studying an approved course
- Be studying with an approved course provider
- Apply to the government using the approved form and
- Confirm your engagement and progression to continue to access the loan throughout your course.
To be an eligible student, you must meet all of these criteria’s:
- You are:
- An Australian Citizen, or
- A qualifying New Zealand Citizen, or
- A permanent humanitarian visa holder, who is usually resident in Australia.
- Your FEE-HELP balance (the amount of your FEE-HELP limit you have left) is more than $0.
- You are enrolled with an approved course provider in an approved course and have enrolled in accordance with the application requirements.
- You are studying the approved course primarily at a campus in Australia
- You have been assessed by your approved course provider as academically suited to undertake the approved course on the basis or either:
- Providing your Australian Year 12 Certificate OR
- Providing evidence of successful completion of an Australian Qualifications Framework Certificate IV or higher qualification (where the language of instruction is English) OR
- Displaying competence at Exit Level 3 in both reading and numeracy through an approved Language, Literacy and Numeracy test called the LLN Robot System (The Learning Resource Group).
- Your approved course provider must reasonably believe you show competence in completing the course.
- You meet the Tax File Number (TFN) requirements
- You have a Unique Student Identifier (USI) or are otherwise exempt
How to Apply for VET Student Loan:
We will ask you to provide us a copy of your year 12 Australian Senior Secondary Certificate of Education or evidence of successful completion of an Australian Qualifications Framework Certificate IV or higher qualification (where language of instruction is English)
If you are able to supply the above evidence,
If you are unable to supply your year 12 Australian Senior Secondary Certificate of Education or evidence of successful completion of an Australian Qualifications Framework Certificate IV or higher, but want to apply for Vet Student Loan
- Upon application students are asked to sit THA’s Assessment of Prior Skills & Knowledge, you will receive the results from our Academic and Student Support Officer, and will only be able to continue with your enrolment if you meet the requirements of this assessment.
- You will then be enrolled into the course and receive a welcome letter
- We will register you with a government endorsed online LLN Robot (The Learning Resource Group) assessment in both numeracy and literacy. You will need to complete this assessment and obtain an exit level 3 for both reading and numeracy.
- You will receive the results of that assessment from our Academic and Student Support Officer.
- If you do reach the required level in the online LLN Robot (The Learning Resource Group) Assessment.
- You will then be enrolled into the course and receive a welcome letter.
- 48 hours after enrolment you will receive your VET Student Loan eCAF to confirm and submit.
- If you do not reach the required Exit level 3 in the online LLN Robot (The Learning Resource Group) assessment.
- You will be contacted by our Academic and Student Support Officer to talk through the gaps that you have, and we will look at strategies to assist you to re-sit the assessment.
- Please note that you will not be able to apply for the Vet Student loan if you are not able to reach the required Exit level 3 in this assessment
You will receive an email from the department allowing them to sign into the eCAF system. Students are required to verify the pre-populated information and complete the mandatory fields. You must then wait atleast two full business days after you have enrolled in your studies before submitting the eCAF. You must submit the eCAF on or before the first census day for which you would like the loan to apply.
Once you submit your eCAF, you will receive an email confirming your loan approval and providing you with a copy of your completed form. You should keep this form for your records.
In exceptional circumstances, you may be permitted to use a paper loan request form or other eCAF developed by your provider. Your provider will advise you how to apply using these forms.
If you do not complete the eCAF, or other permitted form, by the required date for your course, you will have to wait until the next part of your course/unit, next semester or trimester to request a VET Student Loan for future study. Retrospective access to VET Student Loans is not allowed under any circumstances.