From 1 January 2017, the Commonwealth VET Student Loans program will replace the existing VET FEE-HELP loan program.
A VET Student Loan is a loan that helps eligible students enrolled in certain higher level vocational education and training courses at approved course providers pay their tuition fees.
For more information please visit Commonwealth Department of Education of Training.
A VET Student Loan can cover all or part of your tuition fees, i.e. you can choose to apply it to all or part of your unit of study debt. VET Student Loan is a loan for tuition fees only, and does not cover the cost of text book, equipment, travel, tools, accommodation or general living expenses.
You are eligible for VET Student Loans assistance if you:
You must also:
Before requesting a VET Student Loan, you will need to provide evidence of your eligibility to SITCM.
A USI is a unique reference number that creates a secure online record of your recognised training and qualifications gained in Australia. If you don’t have a USI, visit https://www.usi.gov.au/ to register before you apply to enrol.
A CHESSN is allocated to all students when they first access a Commonwealth loan. Any Commonwealth student loan you take is recorded against your CHESSN. If you already have a CHESSN, please supply that number.
Please refer to the
VET Scheduleof Tuition Fees for students enrolled in 2020(201kb)for all course fees.
Other incidental charges apply to the following services provided by SITCM. These include:
A 20 per cent loan fee applies to VET Student Loans for full fee paying / fee for service students. The loan fee does not count towards your FEE-HELP limit.
To apply for a VET Student Loan:
SITCM will advise the Commonwealth that you wish to apply for a VET Student Loan. The Commonwealth will then email your logon details and password to access the eCAF system. You will need to verify the pre-populated information and complete all mandatory fields on the form “Request for a VET Student Loan eCAF”, then submit the eCAF form. Once submitted, you should receive a copy of your eCAF confirmation letter via email. You must provide a copy of this letter to SITCM.
A request for VET Student Loans assistance will only be given at least two business days after a student enrols in a module. You will not be able to receive VET Student Loans assistance for the module if you enrol in a module less than two business days before the census date. This is to ensure that students have had time to fully understand the details of their course enrolment and consider the fee payment options available to them.
Eligible students who fail to pay their tuition fees in full or who do not apply for VET Student Loans will be at risk of having their enrolment terminated.
As with any loan you take, you must understand the terms and conditions before you make a commitment. Please read the VET Student Loans information available on the Commonwealth Department of Education and Training website.
Before the relevant census date for the modules that you are undertaking.
You start repaying your accumulated debt through the Australian Taxation Office when your income is above the minimum threshold for compulsory repayment. Repayment thresholds are adjusted each year to reflect changes in average weekly earnings.
Check out the Loan repayment page for information on how and when to pay back your loan.