Explore your cost and repayment choices, find out about the VET scholar Loan program and look your eligibility

How exactly does it work?

The VET student education loans program enables qualified pupils to repay their tuition costs for almost any authorized diplomas or higher level diplomas (see Is a VET Student Loan designed for my program? ).

  • Repay all your valuable tuition charges (up to the mortgage limit restriction) as soon as your earnings reaches the payment limit
  • Pay a few of your tuition charges upfront and repay the total amount as soon as your earnings reaches the payment limit.

Your loan is paid back through the Australian taxation system whenever you reach the minimum earnings threshold for repayment. The income that is minimum for repayment is scheduled because of the Commonwealth every year and it is posted on research help in the VET student education loans information booklet. There clearly was that loan cost of 20% for complete fee-paying students. There isn’t any loan cost for qualified pupils in certain NSW Government subsidised (Smart and talented) training places.

You need to be conscious your loan remains your own financial obligation until it really is paid back, also it may lessen your take-home (after taxation) wage as well as your borrowing ability. You may possibly need to look for separate advice that is financial using.

For more information concerning the costs for Government subsidised training places, please go to Smart and Skilled – rates, costs and subsidies. Centrelink benefits try not to influence your eligibility or the loan quantity you’ll access. Fee concessions are not designed for Diploma and above courses. Nevertheless, charge exemptions could be readily available for eligible pupils in an intelligent and place that is skilled. Please contact your campus/college for more information or relate to charges information.

Have always been we eligible?

To meet the requirements, you must either:

  • Be a citizen that is australian or
  • Hold an eligible permanent humanitarian visa and often have a home in Australia, or
  • Be a unique Zealand citizen on Special Category Visa (SCV subclass 444) whom satisfies the long haul residency demands. *

Holders of other permanent visas and temporary visas are NOT qualified to receive a VET Student Loan

  • Have income tax file quantity (TFN) or be trying to get one. The non-public information on the ATO to your TFN, must match the private details you’ve got supplied to TAFE NSW, for instance your name and date of delivery (see Commonwealth TFN Student Fact Sheet)
  • Have actually an original pupil Identifier (USI)
  • Want to undertake your program mainly in Australia
  • Meet up with the scholastic suitability needs for the VET figuratively speaking scholar Entry Procedure (PDF, 291KB) (that is, examined as academically suitable to try a top degree vocational certification)
  • Have Commonwealth advanced schooling Student help quantity (CHESSN)
  • Not have surpassed your daily life Commonwealth pupil loan restriction, which can be set each by the Commonwealth year
  • Have actually see the VET student education loans information booklet.
  • Have actually offered any required paperwork to TAFE NSW and presented the electronic Commonwealth Assistance Form (eCAF) online because of the very first census day at least two company times after enrolling (observe how do we apply)
  • Adhere to ongoing Commonwealth engagement and development demands to log in to complete their online student engagement kind to verify that you’re a student that is genuine continuing to analyze therefore the progress in your program. You’re going to get these needs 2 or 3 times a 12 months, dependent on the length of time your program is. If you don’t finish the shape and survey inside the required time, maybe you are ineligible to keep accessing VET figuratively speaking to fund the remaining of the program tuition charges.


The life time loan limit may be the total quantity you can incur in your health under any Commonwealth HELP education loan scheme – whether it’s advanced schooling FEE-HELP, VET FEE-HELP or even a VET Student Loan. It is indexed each year, on the basis of the Consumer Price Index (CPI). In 2019, the life time loan limitation is $104,440 for some pupils. Pupils can see their loan responsibilities by signing into myUniAssist in the learn Assist internet site. You will require your Commonwealth degree Student help quantity (CHESSN) to log in.

What’s a Commonwealth advanced schooling Student help quantity (CHESSN)?

A CHESSN is allotted to all learning pupils if they first access a Commonwealth loan. Any Commonwealth education loan you are taking is recorded against your CHESSN. In the event that you curently have a CHESSN, please provide that number. Otherwise, TAFE NSW provides you with one throughout your application procedure.

Brand New Zealand Citizens

The residency needs for brand new Zealand residents for A category visa that is special are

  1. You first started surviving in Australia at the least ten years before you apply for a loan, and also at the period, had been a son or daughter under 18 years old and didn’t have a partner or de-facto partner; and
  2. You’ve experienced Australia for at the least eight for the decade instantly just before using as well as minimum 18 months of this final couple of years.

You shall have to provide proof of your eligibility to TAFE NSW before requesting a VET Student Loan.

Is just a VET Student Loan readily available for my program?

VET student education loans are around for full-time, part-time and online research.

View the TAFE NSW VET Education Loan Approved Course List. Your TAFE NSW university can provide you with also a listing of available courses.

If program costs are over the optimum loan students may borrow, other repayment plans can be found. You shall be encouraged among these whenever you enquire.

A VET Student Loan is an understanding between you as well as the Commonwealth national.

To try to get a VET scholar loan:

  • You have to satisfy all of the loan eligibility needs
  • If you’re accepted into a program, TAFE NSW will advise the Commonwealth which you desire to make an application for that loan
  • The Commonwealth will email you a passkey to gain access to the Commonwealth that is electronic Assistance (eCAF) online
  • You will have to offer your legitimate Tax File quantity (TFN), therefore own it handy whenever you log in to the online type. You can apply at most Australia Post outlets if you don’t have a TFN. A legitimate Tax File quantity means the information you offer to TAFE NSW must match those held utilizing the Tax that is australian workplace. If you offer an invalid Tax File quantity, you’ll not manage to access a VET Student Loan for the tuition charges. Check always your details are correct by signing into the MyGov account just before obtaining that loan.
  • Your application for the loan (eCAF) is split to your enrolment with TAFE NSW. The Commonwealth national calls for that there’s a two time cool down duration in the middle of your enrolment and obtaining that loan.
  • The census time could be the final time you can put on for a financial loan when it comes to costs for that duration, so be sure you finish the job immediately.

As with every loan you are taking, you need to comprehend the stipulations before you create a dedication. You need to see the VET Student Loan information available on research Assist, the Department of Employment, techniques, Small Family & company internet site for students and give consideration to looking for separate advice that is financial.

Through your research, you may possibly again be contacted by the Commonwealth to verify your engagement and development in your program and make sure you wish to keep to utilize your VET scholar Loan to pay for your tuition costs for the program. It’s important which you advise TAFE NSW if all of your personal or details that are contact throughout your research. More information about the VET scholar Loan progression and engagement procedure can be obtained in the Department of Employment, techniques, Small Family & company web site. You will not be able to continue access to a VET Student Loan for your tuition fees if you do not complete the engagement and progression process.

Under 18

There are not any age limitations to use for a VET Student Loan. For students that are under 18, you have to finish one of several following requirements:

  • Your parent or guardian must signal the Commonwealth’s parental permission type for the loan. This might be available from your university or from the Department of Employment, techniques, Small Family & company site. This form must be provided by you to your university just before can use for the loan. OR
  • That you are independent, you must provide your Centrelink Income Statement noting your independent assessment if you are receiving Youth Allowance on the basis.

Your guardian or parent will never be accountable for making loan repayments and it surely will maybe maybe maybe not influence their credit score.

Scholar entry procedure

All pupils wanting to make an application for a Commonwealth VET education loan should be assessed for educational suitability to try a level that is high certification. That is directed at ensuring the skills are had by you and knowledge to achieve your course.

Academic evaluation is with in addition to virtually any other entry needs for the course, or other selection that is additional. Relate to the VET figuratively speaking scholar Entry Procedure (PDF, 291KB).

To be evaluated as academically suitable, you must either:

  • Give a copy of one’s senior secondary certificate of training (which has been awarded by the authority that is australian agency), or
  • Offer evidence of attainment of an Australian Qualification Framework certification at Certificate IV or above. You may possibly give a transcript from your own provider that is previous a transcript through the nationwide USI sign up for qualifications gained from 2015) or proof of an approved Australian Government assessed offshore certification. Us know where and when you studied, or if it is a TAFE NSW qualification, let
  • Undertake an approved numeracy and literacy evaluation and become efficient at Exit degree 3 (working at degree 4) or above. Your university shall help you through the procedure to attempt this evaluation if needed. There isn’t any loans near me expense for you.

Credit transfer

When you have finished past studies, you may be qualified for reduced charges. You ought to allow TAFE NSW understand at the earliest opportunity when you have expertise in the region you will be learning and think you could be eligible for RPL (Recognition of previous Learning). It is possible to talk about this together with your instructor before you enrol.

Doing a higher level certification with TAFE NSW provides a fantastic path to a lot of college levels. Discover more about getting credit where credit’s due – TAFE to University.