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…for a brighter future.

Study Now, Pay Later with VET Student Loans

VET Student Loans Logo

What is VET Student Loans?

VET Student Loans is a Government loan offered by the Australian Government to eligible students enrolling into Vocational Education and Training (VET) to help pay for their tuition fees.

Key Facts about the VET Student Loans

  1. A VET Student Loan is a loan issued by the Commonwealth
  2. This loan will remain as a personal loan that must be repaid to the Commonwealth
  3. The loan, until it has been repaid, may reduce the students after-tax income and may reduce the students borrowing capacity through other loan providers (such as home, car, etc)
  4. A student is welcome to seek additional financial advice prior to applying for a VET Student Loan
  You don’t need to begin repaying the loan until you earn over $45,881 a year. The loan is repaid based on your income at a percentage between 1% – 10%.

Am I Eligible for a VET Student Loans

To be an eligible student for the purposes of accessing VET Student Loans, you must meet ALL of these criteria: You are:

  • your FEE HELP balance is more than $0 and is sufficient to cover the amount you wish to access.
  • you have been assesed by Trainsmart Australia as academically suited to undertake the approved course on the basis of 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 course 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 2017 VET Student Loans information booklet (https://www.education.gov.au/vet-student-loans) (Information to students > VET Student Loans Students > VET Student Loans Information booklet 2017 (https://www.education.gov.au/information-vet-student-loans-students )
  • You have given the required documents to TrainSmart Australia and submitted the loan application form by the first census day no less than two business days after enrolling.

VET Student Loans Repayment Calculator

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20% Loading Fee

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Your estimated after tax repayments are;

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