The VET Student Loans program is the Commonwealth Government loan scheme for vocational education and training (VET), it replaced the VET FEE-HELP program on 1 January 2017.

Under this program, eligible students studying in approved Diplomas or Advanced Diplomas may be able to defer their tuition fees through a student loan.

You will owe a debt to the Australian Government for the loan, which will be managed by the Australian Taxation Office. Your loan is repaid through the Australian tax system when you reach the minimum income threshold for repayment. There is a loan fee of 20% for full fee-paying students.

To be eligible for a VET Student Loan, you must:

• Be an Australian Citizen or
• A New Zealand Citizen with a Special Category Visa (SCV) or
• A Permanent Humanitarian Visa holder who will be residing in Australia for the duration of the course
• Be studying a VET Student Loans eligible course
• Meet student entry procedure requirements
• Meet Tax File Number requirements
• Present Unique Student Identifier (USI) number
• Have not exceeded your HELP loan limit
• Have not exceeded the VET Student Loans course cap
• Submit a request for a VET Student Loan via the Government’s eCAF System (including all required information) on or before the first census date and no less than two (2) business days after enrolling
• Confirm engagement and progression to continue to access the loan throughout the course

You can assess your eligibility using the eligibility tool at https://www.myskills.gov.au/more/financial-assistance/

There are no age restrictions to apply for a VET Student Loan. For students who are under 18, you must complete one of the following requirements:

Your parent or guardian must sign the Commonwealth’s parental consent form for your loan. You must provide us with this form before you can apply for a loan. OR
If you are receiving Youth Allowance on the basis that you are independent, you must provide your Centrelink Income Statement noting your independent assessment.
Your parent or guardian will not be responsible for making loan repayments and it will not affect their credit rating.

The maximum amount you can borrow via the VSL scheme for the individual aviation (AVI) course in 2023 is currently $83,949. You can borrow up to $162,336 in total if you are completing more than one eligible AVI course.

You can find current information on each individual course at the links below:

• AVI50222 Diploma of Aviation (Commercial Pilot Licence  – Aeroplane) https://www.myskills.gov.au/courses/details?Code=AVI50222
• AVI50519 Diploma of Aviation (Instrument Rating) https://www.myskills.gov.au/courses/details?Code=AVI50519

Fees for courses eligible for VET Student Loans are charged by unit / clusters of study, with your payments spread across the duration of your course.

Each unit of study has a census day, set at no less than 20% into the unit of study. You will be sent an Invoice Notice to your personal email address 14 days before each census day, indicating your fees and census days.

Your debt is incurred on the day after the census day. After a census day has passed, ACMUSE will also send you a Commonwealth Assistance Notice (CAN) for that unit/s of study. The CAN will provide you with information about your debt, including the loan fee if applicable. If you believe your CAN is incorrect, you should contact the College immediately.

The course cost is known as the “tuition fee”. If the approved course tuition fee is greater than the maximum loan cap amount for that course, you will be required to pay the difference. This is known as a “gap fee”.

There may also be additional “non-tuition” fees on top of the tuition fee, and these are not covered under the VSL scheme.

Under the VSL scheme, students are required to pay a “loan fee”, which is 20% of the entire loan amount. 

A loan calculator tool is available here – https://www.myskills.gov.au/more/financial-assistance/

It is important to discuss all applicable fees with us when you apply, and we can provide you with a more accurate cost breakdown and estimate.

If you have completed previous aviation studies or flight training, you may be eligible for a Credit Transfer or Recognition of Prior Learning (RPL). You should discuss your previous training with us at the time of enrolment, and we will calculate the amount of credit that can be applied.

The overall course fee will be adjusted based on the credit applied, and therefore the VET Student Loan amount will also be adjusted. This will be determined prior to accept your enrolment and commencing the VSL process.

Example: You already hold a Private Pilot Licence (PPL) and want to apply for the AVI50222 Diploma of Aviation (Commercial Pilot Licence  – Aeroplane) course. Since PPL training makes up part of the AVI50222 syllabus, you will be eligible for that training to be credited. The overall course tuition fee will be reduced taking into account your PPL training credit, and so the loan you require via the VSL scheme will also be reduced.

The initial debt amount (including the loan fee, if applicable) plus indexation must be paid back once the loan recipient starts earning over a certain amount. The compulsory repayment threshold for the 2021-22 financial year is $47,014, however, this changes each year.

The debt can be managed via MyGov and is paid back via the Australian Taxation Office (ATO). It is very important to understand your VSL obligations and to stay on top of your debt.

More information is available at https://www.studyassist.gov.au/paying-back-your-loan/loan-repayment

The census date is the last date you can withdraw from a subject, withdraw from your course, or apply for a leave of absence without remaining liable to pay for the subject, and without it appearing on your academic transcript and statements.

The census date is also the very last date you can be enrolled in a subject. However, it is recommended that you enrol before the teaching period begins, and finalise your subject enrolment before the last self-enrol date.