VET Student Loans
Please note that VET Student Loans apply to CHC52015 Diploma of Community Services students only.
VET Student Loans (VSL) commenced on 1 January 2017, replacing VET FEE-HELP, which ceased on 31 December 2016. VSL is only available for Diploma level courses.
What is VET Student Loans?
The Australian Government is committed to increasing productivity, addressing skills shortages and assisting with the cost of studying. One of the measures that achieve these goals is the availability of VET Student Loans.
VET Student Loans is a loan from the Commonwealth; and will remain a personal debt until it is repaid to the Commonwealth. Until it is repaid, it may affect your take-home (after-tax) wage or salary and may reduce your borrowing capacity. You may wish to seek independent financial advice before applying for a loan.
For more information, please click here.
Eligibility
To access a VET Student Loan, you must provide the required evidence against the eligibility criteria. VET Student Loans will not be approved for students who do not meet eligibility requirements.
You must also meet ALL of these criteria:
Applying
If you are eligible for VET Student Loans assistance and would like to apply, you should contact Shepparton ACE College (SACE) who will assist you in applying by confirming your eligibility and providing you with the VET Student Loan information booklets, course fees, semester dates and Census Days. SACE will explain how to apply for an Electronic Commonwealth Assistance Form (eCAF).
Once you have read the VET Student Loans Information Booklet, complete the Request for a VET Student Loan eCAF by the Census Day. You should contact us if you are unsure how to complete any of the above.
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 semester to request a VET Student Loan for future study. Retrospective access to VET Student Loans is not allowed under any circumstances.
Key Information
What is a Census Day?
A date by which you may cancel your enrolment without incurring tuition fees for the course or a part of the course is a census day.
What is a Commonwealth Assistance Notice (CAN)?
After the census date, your provider will send you a CAN. The CAN includes important information about your enrolment, any VETSL debt you have incurred or student contribution amounts you have paid, and any loan fee you may have incurred.
What is a Fee Notice?
A Fee Notice is given to you a minimum of 14 days before your upcoming Census Day. It tells you the:
What is an Electronic Confirmation of Enrolment Form (eCAF)?
An eCAF is when you confirm you wish to use VSL for your course through the electronic Commonwealth Assistance Form (eCAF) system.
Fees and Charges
The Cap for the course offered by Shepparton ACE College is set by the Government at $10,528 – this is the most you can borrow for the course offered at SACE. For students eligible for funding by the State Government under the Skills First program the cap is set by SACE to $3,375. A 20% loan fees applies to VET Student Loans for full fee paying, or fee for service students but not to students who are also funded by the State government. The loan fee does not count towards your FEE-HELP limit. The FEE-HELP limit changes each year. For current limits, click here.
Current fees, start dates, and census days can be found below:
Repayments
Your VET Student Loans debt forms part of your accumulated HELP debt – now called a VETSL Debt. From 1 July 2019 VSL debts will be accounted separately for the Australian Tax Office (ATO) records. When you log in to the ATO online via your myGov account, VSL loans from 1 July 2019 will display under a separate VSL account. VSL loans will still consume your FEE-HELP balance (which will become a renewable HELP balance from 1 January 2020). You must start repaying your VETSL debt through the tax system once your income is above the compulsory repayment threshold, even if you are still studying.
The threshold is adjusted each year so for current repayment amounts, please click here.
Repayments made through the Australian taxation system are called compulsory repayments and continue until you have repaid your whole debt. Visit Study Assist for more information.
Withdrawal from VET Student Loans
You must withdraw correctly by the Census Day to avoid a VET Student Loans debt.
In accordance with VET guidelines, students will not be charged any fine, penalty or fee for withdrawal. There are no administrative or financial barriers imposed on students who wish to withdraw prior to the Census Day. Students will not remain enrolled from the date of notification of withdrawal or cancellation and if a student wishes to enrol in subsequent VET units of study they must re-enrol in accordance with ACE’s enrolment procedures.
To withdraw correctly, you must complete an official withdrawal form. You can submit it to ACE in person, by scanned email image, or post to 130 Rowe Street PO Box 6146, Shepparton Vic 3632.
Student References: Policy and Procedures
Course Enrolment including Equal and Fair Treatment of Students
Student Withdrawal Process and Procedures
Student Grievance Procedures
Student FEE-HELP Re-Credit Procedures
Student Review Procedure
Tuition Assurance Process and Statement of Tuition Assurance
Privacy and Information Handling Procedures
Please note that VET Student Loans apply to CHC52015 Diploma of Community Services students only.
VET Student Loans (VSL) commenced on 1 January 2017, replacing VET FEE-HELP, which ceased on 31 December 2016. VSL is only available for Diploma level courses.
What is VET Student Loans?
The Australian Government is committed to increasing productivity, addressing skills shortages and assisting with the cost of studying. One of the measures that achieve these goals is the availability of VET Student Loans.
VET Student Loans is a loan from the Commonwealth; and will remain a personal debt until it is repaid to the Commonwealth. Until it is repaid, it may affect your take-home (after-tax) wage or salary and may reduce your borrowing capacity. You may wish to seek independent financial advice before applying for a loan.
For more information, please click here.
Eligibility
To access a VET Student Loan, you must provide the required evidence against the eligibility criteria. VET Student Loans will not be approved for students who do not meet eligibility requirements.
- Be an eligible student
- Be studying an approved course
- Be studying with an approved course provider
- Apply to the government using the approved form
- Confirm your engagement and progression to continue to access the loan through your course
You must also meet ALL of these criteria:
- You are:
- An Australian citizen, or
- A New Zealand Special Category Visa (SCV) holder who meets the long-term residency requirements, or
- A permanent humanitarian visa holder
- You have not exceeded the Fee-Help limit
- Be 18 years of age or older, or have a legal guardian or parent complete a parental consent form
- For students under the age of 18, a responsible parent or guardian will be required to sign a parent consent form.
- For students under the age of 18 receiving Youth Allowance, on the basis of independence, are required to bring supporting documentation.
- 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 by 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 the Australian Core Skills Framework in both reading and numeracy through an approved Language, Literacy and Numeracy test.
- In addition, your approved 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.
- You have read the VET Student Loans Information booklet found https://www.education.gov.au/vet-student-loans
- You have given the required documents to your approved course provider and submitted the loan application form by the first census day no less than two business days after enrolling
Applying
If you are eligible for VET Student Loans assistance and would like to apply, you should contact Shepparton ACE College (SACE) who will assist you in applying by confirming your eligibility and providing you with the VET Student Loan information booklets, course fees, semester dates and Census Days. SACE will explain how to apply for an Electronic Commonwealth Assistance Form (eCAF).
Once you have read the VET Student Loans Information Booklet, complete the Request for a VET Student Loan eCAF by the Census Day. You should contact us if you are unsure how to complete any of the above.
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 semester to request a VET Student Loan for future study. Retrospective access to VET Student Loans is not allowed under any circumstances.
Key Information
What is a Census Day?
A date by which you may cancel your enrolment without incurring tuition fees for the course or a part of the course is a census day.
What is a Commonwealth Assistance Notice (CAN)?
After the census date, your provider will send you a CAN. The CAN includes important information about your enrolment, any VETSL debt you have incurred or student contribution amounts you have paid, and any loan fee you may have incurred.
What is a Fee Notice?
A Fee Notice is given to you a minimum of 14 days before your upcoming Census Day. It tells you the:
- amount covered by VET Student Loan,
- amount you must pay yourself (if any)
- loan fee amount
What is an Electronic Confirmation of Enrolment Form (eCAF)?
An eCAF is when you confirm you wish to use VSL for your course through the electronic Commonwealth Assistance Form (eCAF) system.
Fees and Charges
The Cap for the course offered by Shepparton ACE College is set by the Government at $10,528 – this is the most you can borrow for the course offered at SACE. For students eligible for funding by the State Government under the Skills First program the cap is set by SACE to $3,375. A 20% loan fees applies to VET Student Loans for full fee paying, or fee for service students but not to students who are also funded by the State government. The loan fee does not count towards your FEE-HELP limit. The FEE-HELP limit changes each year. For current limits, click here.
Current fees, start dates, and census days can be found below:
Repayments
Your VET Student Loans debt forms part of your accumulated HELP debt – now called a VETSL Debt. From 1 July 2019 VSL debts will be accounted separately for the Australian Tax Office (ATO) records. When you log in to the ATO online via your myGov account, VSL loans from 1 July 2019 will display under a separate VSL account. VSL loans will still consume your FEE-HELP balance (which will become a renewable HELP balance from 1 January 2020). You must start repaying your VETSL debt through the tax system once your income is above the compulsory repayment threshold, even if you are still studying.
The threshold is adjusted each year so for current repayment amounts, please click here.
Repayments made through the Australian taxation system are called compulsory repayments and continue until you have repaid your whole debt. Visit Study Assist for more information.
Withdrawal from VET Student Loans
You must withdraw correctly by the Census Day to avoid a VET Student Loans debt.
In accordance with VET guidelines, students will not be charged any fine, penalty or fee for withdrawal. There are no administrative or financial barriers imposed on students who wish to withdraw prior to the Census Day. Students will not remain enrolled from the date of notification of withdrawal or cancellation and if a student wishes to enrol in subsequent VET units of study they must re-enrol in accordance with ACE’s enrolment procedures.
To withdraw correctly, you must complete an official withdrawal form. You can submit it to ACE in person, by scanned email image, or post to 130 Rowe Street PO Box 6146, Shepparton Vic 3632.
Student References: Policy and Procedures
Course Enrolment including Equal and Fair Treatment of Students
Student Withdrawal Process and Procedures
Student Grievance Procedures
Student FEE-HELP Re-Credit Procedures
Student Review Procedure
Tuition Assurance Process and Statement of Tuition Assurance
Privacy and Information Handling Procedures