What is a VET Student Loan?
On 1 January 2017, the VET Student Loans program commenced. This is a new student loans program that replaces the VET FEE-HELP scheme, to give eligible students access to quality higher level VET qualifications, particularly those students who could not otherwise afford to pay upfront.
VET Student Loans is an Australian Government Loan scheme that helps eligible students pay their tuition fees for diploma and above VET courses undertaken at an approved provider. A student’s access to a VET Student Loan is approved by the Australian Government Department of Education and Training.
What courses are available?
Monash Training and Professional Development is an approved VET Student Loans provider and is able to offer eligible individuals access to the VET Student Loans scheme for the following courses:
There are specific criteria students must meet to be eligible for a loan through VET Student Loans.
VET Student Loans are managed by the Australian Taxation Office (ATO) and repayments must be made once
your income is above the compulsory repayment threshold.
How do I apply for a VET Student Loan?
You must first submit all your enrolment paperwork to us and indicate that you wish to access a VET StudentLoan. We will then give the Department your enrolment information, including the nearest applicable census day, through the electronic Commonwealth Assistance Form (eCAF) system.
You will then receive an email from the department allowing you to sign into the eCAF system. Once you sign-in,you will need to verify the pre-populated information and complete the mandatory fields. You can then submit the eCAF, which will cause the system to email you a copy of your completed form. You should keep this form foryour records.
If you do not complete the eCAF 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.
VET Student Loan Student Booklet – Please ensure you read this before enroling
VET Student Loan Intention to Apply – Want to apply? Please fill out the attached form
Still have questions? Please send us an email with the below form and we will be in touch shortly.