VET FEE-HELP: what does it mean?

CourseFinder Team

July 1, 2016

Learn all about VET FEE-HELP, and find out if you’re eligible, with our handy fact sheet!

VET FEE-HELP

VET FEE-HELP is a loan scheme to help students pay tuition fees for higher-level vocational education and training (VET) qualifications. VET qualifications covered by VET FEE-HELP include qualifications at the diploma level and above.

Am I eligible?

You must:

Be enrolled in an eligible unit of study, offered by an approved VET FEE-HELP provider, by the census date; AND
Be an Australian citizen or a permanent humanitarian visa holder, residing in Australia for the duration of your unit; AND

Meet the following course requirements:

Be a full fee paying/fee for service student studying a diploma, advanced diploma, graduate certificate or graduate diploma course; OR
Be a student subsidised by a state or territory government (excluding ACT), studying a diploma or advanced diploma course; OR
Be a student subsidised by the Victorian, South Australian, Queensland, Western Australian or New South Wales Government, studying a certificate IV course specified and nominated by the state as part of the Certificate IV Trial.

When do I starting paying back my loan?

You’ll start repaying your HELP debt once your taxable income reaches the compulsory repayment threshold. This threshold is adjusted every year. The threshold for 2016-17 is $54,869.

How much can I borrow?

In 2016 you can borrow up to $99,389 under the FEE-HELP scheme. For students studying medicine, dentistry and veterinary science courses, the FEE-HELP limit is $124,238.

Disclaimer: This information is correct at the time of publishing, but is subject to change under the current government’s higher education reforms. The figures provided are applicable for the 2016-17 financial year only. For more information, visit StudyAssist [www.studyassist.com.au].

2016-2017 repayment rates
2016-2017 Repayment rates	Repayment % rate
Below $54,869	NIL
$54,869 – $61,119	4.0%
$61,120- $67,368	4.5%
$67,369 – $70,909	5.0%
$70,910 – $76,222	5.5%
$76,223 – $82,550	6.0%
$82,551 – $86,894	6.5%
$86,895 – $95,626	7.0%
$95,627 – $101,899	7.5%
$101,900 and above	8.0%

To get started with your VET FEE-HELP application, or for more information, you can head to the StudyAssist website.

Browse through our range of online courses that are covered by the HELP loan schemes.

VET FEE-HELP: what does it mean?

VET FEE-HELP

Am I eligible?

When do I starting paying back my loan?

How much can I borrow?

Is there anything else I need to know?