VET Student Loans

Government 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.

What are the benefits?

Study Now,
Pay Later

With a VET Student Loan*, you can study now and pay your course fees later!

No Payments Until You Earn Over $47,014

You don't need to pay anything back until you earn over $47,014 a year (And you'll only pay up to 10% per year)

Selected Providers

Only a few, select providers around Australia can offer VET Student Loans, and TrainSmart Australia is one of them!

VSL Key Facts

  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
  5. A 20% loading fee is applied to all VET Student Loans by the Australian Government (This does not count towards your VSL cap).

You don’t need to begin repaying the loan until you earn over $47,014 a year. The loan is repaid based on your income at a percentage between 1% – 10%.



VET Student Loan Facts | TrainSmart Australia

Am I eligible?

To find out if you are eligible for a VET Student Loan, you can use our quick and easy VET Student Loans Eligibility Tool below! Just click the tab open to start.

You are eligible for a VET Student Loan if meet the following criteria;


You are an Australian Citizen


You are a qualifying New Zealand Resident (See Below)


You are a permanent Humanitarian Visa Holder, with residency in Australia

  • 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 to the above, TrainSmart Australia 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.
New Zealand Citizen Eligibility Criteria for VET Student Loans

To be eligible for VET Student Loans as a New Zealand citizen with permanent residency in Australia, you must meet ALL the below criteria;

  • Hold a New Zealand Special Category visa (subclass 444);
  • Have been usually resident in Australia for at least 10 years;
  • Have been a dependent child when you were first usually resident in Australia;
  • Have been in Australia for periods totalling 8 years during the previous 10 years; and
  • Have been in Australia for periods totalling 18 months during the previous 2 years.

*VET Student Loans are subject to students meeting eligibility requirements. VET Student Loan creates a debt that must be repaid to the Commonwealth.

What Would My Repayments Be?

Have you ever considered being an E-Counsellor?

To help you figure out a ball park as to what your repayments are, we created this nifty VET Student Loans Repayments Calculator that you can use!

Just click the tab below to open the calculator and get started!

* Please note, this tool offers an estimated repayment amount and is not guaranteed to be 100% accurate and should only be used as a general guide.