VET FEE HELP
Want to start studying a natural therapy, but don’t have enough cash in the bank? Not to worry! Many students opt for VET FEE HELP, a government-administered loan that pays for part or all of your course costs. So you can study now, and pay later.
VET Student Loans
Subject to the passage of legislation, VET Student Loans will commence on 1 January 2017, replacing the current VET FEE‑HELP scheme, which will cease on 31 December 2016.
For more information on this please see the Government Website here as this page will be updated regularly as additional information becomes available. It also includes fact sheets for students and providers.
Do I qualify for VET FEE HELP?
This is the first question you need to ask. To get a VET FEE HELP loan, you need to apply for a diploma, advanced diploma, graduate certificate, or graduate diploma at an approved training institute.
You also need to be an Australian citizen or have a Permanent Humanitarian sub-class visa. New Zealand citizens and permanent visa holders aren’t eligible .
Is my natural therapies course covered by VET FEE HELP?
It’s a common misconception that only TAFE and university students can access VET FEE HELP. In fact, many natural therapy schools and colleges are approved VET providers.
How do I apply for a VET FEE HELP loan?
Found a course you love? Then the next step is to ask the provider if they offer VET FEE HELP; chances are they do! Once you’ve applied to the Registered Training Organisation (RTO) of your choice, they will guide you through the application process.
Bear in mind that you must be enrolled in your chosen course before applying for a loan. Your course provider will set a census date, which will be no earlier than one-fifth of the way through your program.
IMPORTANT: You must submit your request on or before the census date to be approved for a VET FEE HELP loan.
What does a VET FEE HELP loan cover?
Your VET FEE-HELP Loan covers your tuition fees. You can choose to have all or part of your tuition covered by the loan. Bear in mind that materials and other costs aren’t covered.
What about loan repayments?
Here comes the good news! You don’t have to start repaying your VET FEE HELP loan until:
- you’ve finished your studies;
- are gainfully employed; and
- your income exceeds the minimum threshold determined on that financial year.
Also, you don’t have to pay interest on the loan. However, a 20% loan fee applies.
How much can I borrow?
You can borrow up to a maximum amount over the course of your studies. Your course advisor will be able to tell you what the limit is.
The loans aren’t performance based, and there’s no time limit on your eligibility. What this means is if you apply for a loan to get a diploma, and later undertake an advanced diploma, graduate certificate, or graduate diploma, you can apply for further assistance, even if you’ve taken a break between courses.
Where can I find out more?
Keen to know more about VET FEE HELP? Simply visit the VET FEE HELP website. The site also includes a full list of Approved VET Providers, including natural therapy schools and colleges.