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VET Student Loans/ VET FEE-HELP

VET Student Loans at CIT

From 1 January 2017, the Commonwealth VET Student Loans program replaced the existing VET FEE-HELP loan program.

This Commonwealth Government program allows you to access loans for courses that:

  • have a high national priority
  • meet industry needs
  • contribute to addressing skills shortages
  • lead to employment outcomes.

The program also features loan caps for course loans. This means if your fees are above the loan cap, you will need to pay the difference. Most CIT students will not be affected by course loan caps. Those students who are affected will be informed during their enrolment, and will have the option of accessing a CIT Payment Plan for fees over the cap.

CIT is currently finalising the Expression of Interest form for the first stage of the VET Student Loan application process. It is expected the Expression of Interest form will be available via CIT Self Service before the end of January 2017.

A list of eligible course under the new VET Student Loans scheme is available from the Commonwealth Department of Education and Training website http://education.gov.au/vet-student-loans.

There are specific criteria students must meet to be eligible for a loan through VET Student Loans. Until students have met this eligibility, and the CIT Student Management System has been updated, students will be unable to access the Expression of Interest form on CIT Self Service.

Students must have been assessed as academically suited to undertake the eligible course and their FEE-HELP balance must be greater than zero. A student must also be:

  • an Australian citizen; or
  • hold a permanent humanitarian visa and usually reside in Australia; or
  • be a qualifying New Zealand citizen.

Students will need to provide a Certificate IV, or above, or complete LLN, or provide a Year 12 Certificate.

VET Student Loans Schedules Semester 2 2017

VET Student Loans Schedules Semester 1 2017

VET FEE-HELP Schedule for Semester 1 2017

If you need help with the cost of study, the Australian Government offers support for you to study now and pay later through their VET FEE-HELP scheme.

What is VET Student Loans/VET FEE-HELP and FEE-HELP?

VET Student Loans/VET FEE-HELP and FEE-HELP is a loan from the Australian Government that enables you to defer payment of tuition fees for eligible VET qualifications.

In 2016, many CIT qualifications are eligible for VET Student Loans/VET FEE-HELP and FEE-HELP assistance. This PDF (122Kb) also shows each qualification's entry requirements.

You will need to start repaying the loan through the Australian Taxation System once your income is above an amount set by the Australian Government. This minimum repayment threshold is adjusted each year.

A loan fee of 20% currently applies to VET Student Loans/VET FEE-HELP and FEE-HELP loans for full fee courses and subjects. For example, if your tuition fee is $1,000, the loan fee is $200. The loan fee is also repaid through the Australian Taxation System.

Please note this is a loan and therefore it will be classed as a debt whenever you are required to list your liabilities and assets, for example if you are applying to a financial institution for a loan or credit card.

Who is eligible?

You are eligible for VET Student Loans/VET FEE-HELP and FEE-HELP if you:

  • are an Australian citizen or permanent humanitarian visa holder or New Zealand citizen with a Special Category Visa holder; AND
  • have not exceeded the VET Student Loans/VET FEE-HELP and FEE-HELP limit; AND
  • are enrolled with an approved VET Student Loans/VET FEE-HELP and FEE-HELP provider in an eligible unit of study by the census date for that unit; AND
  • are able to provide a copy of your Australian Senior Secondary Certificate of Education (e.g. HSC in NSW), or undertake an assessment test to show you have the required level of literacy and numeracy to complete your course; AND
  • meet one of the following course requirements:
    • are a full fee-paying / fee for service student studying a diploma, advanced diploma, graduate certificate or graduate diploma level course at an approved VET Student Loans/VET FEE-HELP and FEE-HELP provider; OR
    • are a government subsidised student studying a diploma or advanced diploma course.
  • You must also supply your Tax File Number (TFN), or a valid Certificate of Application for a TFN, before you can access a VET Student Loans/VET FEE-HELP and FEE-HELP loan.

To check the most up-to-date eligibility criteria go to www.studyassist.gov.au.

Important information

There is a now a compulsory 2 business day cooling off period between enrolling in a course and applying for a VET Student Loans/VET FEE-HELP and FEE-HELP loan. During this time you can think about your options and how the debt will affect your circumstances. Fee-for-service students currently pay a 20% loan fee. The 20% loan fee does not apply for subsidised students.

VET Student Loans/VET FEE-HELP and FEE-HELP loans and loan limits only cover the course fee, not any course related or mandatory equipment charges.

VET Student Loans/VET FEE-HELP and FEE-HELP is a Commonwealth loan that may affect the borrowing capacity of the person until the debt is repaid. If you are unsure you should seek independent financial advice prior to applying for a student loan.

What does VET Student Loans/VET FEE-HELP and FEE-HELP cover?

You can only receive VET Student Loans/VET FEE-HELP and FEE-HELP for the tuition fee component of your course or subject fees (including Skills Recognition). VET Student Loans/VET FEE-HELP and FEE-HELP cannot be used to pay for any other costs such as the Service and Amenities Fee, textbooks, personal equipment/clothing, printing, accommodation and travel costs.

If you are enrolling in a government-subsidised course or subject, if eligible you may also apply for a CIT Fee Concession on the tuition fees in addition to applying for VET Student Loans/VET FEE-HELP and FEE-HELP. Full fee courses and subjects are not eligible for a concession.

What courses are available and what are the fees?

To view current VET Student Loans/VET FEE-HELP and FEE-HELP eligible courses and fees, click on the Fee Schedule documents at the top of this page.

What is a census date?

The census date is the last day you can submit a request for VET Student Loans/VET FEE-HELP and FEE-HELP assistance or withdraw enrolment without incurring the cost for that course/subjects.

Commencing in Semester 2 2016 all CIT subjects will have their own Census Date.

To find out when a subjects Census Date will be check the VET Student Loans/VET FEE-HELP and FEE-HELP Schedule – Subject Dates above.

Census Date for Skills Recognition applications using work/life experiences will usually be 3 weeks after the invoice is originally issued.

How do I apply?

To apply for VET Student Loans/VET FEE-HELP and FEE-HELP, log-in to CIT Self Service and click on "I want to apply for a new course and/or enrol into classes". Then select Request for VET Student Loans/FEE-HELP or VET FEE-HELP assistance forms.

Before you can access the application form on CIT Self Service you will need to provide CIT with evidence of your citizenship/residency status and submit a copy of your Australian Senior Secondary Certificate of Education (e.g. HSC in NSW), or undertake an assessment test to show you have the required level of literacy and numeracy to complete your course.

You will also need to have your Tax File Number at the time you apply.

Do I need to apply for VET Student Loans/VET FEE-HELP and FEE-HELP for each course I study?

Yes, you must submit a new Request for VET Student Loans/VET FEE-HELP and FEE-HELP assistance form for each course of study you are enrolled into if you wish to access the VET Student Loans/VET FEE-HELP and FEE-HELP loan scheme.

Once you have applied for VET Student Loans/VET FEE-HELP and FEE-HELP for a course all additional tuition fees for that course will automatically be transferred over to VET Student Loans/VET FEE-HELP and FEE-HELP.

How do I cancel my VET Student Loans/VET FEE-HELP and FEE-HELP assistance applications?

Yes, all requests to cancel VET Student Loans/VET FEE-HELP and FEE-HELP must be done in writing, and submitted prior to or on the Census Date. You can submit your written request in person at any CIT Student Services or by emailing infoline@cit.edu.au.

If you decide to cancel your VET Student Loans/VET FEE-HELP and FEE-HELP assistance request you will be required to pay all your fees prior to or on the Census Date.

Academic Suitability

The Australian Government has made important reforms to the VET Student Loans/VET FEE-HELP and FEE-HELP scheme to better protect students taking out a VET Student Loans/VET FEE-HELP and FEE-HELP loan. To be eligible to apply for a VET Student Loans/VET FEE-HELP and FEE-HELP loan, you must meet the qualification entry requirements (listed as 'entry requirements' for each course) as well as an additional academic suitability requirement. To meet the 'academic suitability' requirement you must either:

  • Provide CIT with your Australian Year 12 Certificate (submit your Australian Year 12 Certificate online via infoline@cit.edu.au alternatively, bring it in personally to any Student Services/Library and staff) OR
  • Achieve competence in the Australian Core Skills Framework (ACSF) at or above the Exit Level 3 in both reading and numeracy in an approved Language, Literacy and Numeracy (LLN) assessment.
    CIT offers free and confidential LLN assessments at any CIT Library during opening hours, or at a CIT Course Information Session.
    CIT uses your LLN results to provide advice on the most suitable pathway to give you the best chance to successfully complete your chosen VET qualification. You will be advised of the outcome of your LLN assessment via email.

More Information

Detailed information is available on the Australian Government's study assist website at www.studyassist.gov.au including eligibility, application and loan repayment If you have questions about CIT policies and procedures for VET Student Loans/VET FEE-HELP and FEE-HELP please contact CIT Student Services on 6207 3188 or infoline@cit.edu.au.