Vocational & Career
VET FEE-HELP for Diploma Courses!
VET FEE-HELP is available at the College for students in Diploma courses. This enables students to ‘study now and pay later’ with a government loan.
Students repay their loan to the Australian Government through the tax system once a student reaches an income threshold for repayment.
If you secure a Smart & Skilled subsidy, you only need to VET FEE-HELP your student fee rather than the entire course cost.
Study Now Pay Later
Have you always wanted to study further but were not able to afford the fees?
VET FEE-HELP is available to assist eligible students studying VET qualifications at the diploma level and above. VET FEE-HELP can be used to pay all or part of an eligible student’s tuition fees when studying with an approved VET provider.
With the VET FEE-HELP loan program, the Government pays your course fees so you can start studying now and you pay back the loan later when you are working and earning over a certain amount.
Am I entitled to VET FEE-HELP?
- If you are an Australian citizen. Then YES! or:
- A permanent humanitarian visa holder who will be resident in Australia for the duration of the unit of study in which they are seeking Vet Fee-Help assistance
- Is a full fee-paying student, or an eligible subsidised student in a Reform State or Territory, enrolled on or before the census date in an eligible unit of study through an approved VET provider and remains enrolled in the unit at the end of the census date
- Meets the tax file number requirements
- Has completed, signed and submitted a valid Request for Vet Fee-Help assistance form for the unit or the course of which the unit forms a part, on or before the census date; and
- Has not exceeded the Fee-Help limit.
How much can you borrow?
Over a student’s lifetime they may borrow through Vet Fee-Help and Fee-Help, an amount up to the Fee-Help limit to pay their tuition fees. Vet Fee-Help debts become part of an individual’s accumulated HELP debt. There is a loan fee of 20% that applies to full fee-paying students undertaking Vet Fee-Help loans. The Fee-Help limit does not include the loan fee. The Australian Government pays the amount of the loan direct to a student’s provider. Students repay their loans through the Australian taxation system.
How do you apply for Vet Fee-Help with Kiama Community College?
If you are eligible for Vet Fee-Help assistance and would like to obtain a Vet Fee-Help loan for your course, then please contact Kiama Community College on 02 4232 1050. We will assist you in applying by confirming your eligibility and providing you with the Vet Fee-Help Information booklet and Request for Vet Fee-Help assistance form. You must read the Information booklet before completing and signing the form. When completing the form, you must tick all relevant boxes and sign the declaration. Return the form to Kiama Community College on or before the census date for the first unit of study for which you wish to obtain VET FEE-HELP assistance. Please feel free to contact our friendly staff at Kiama Community College, if you need help completing the form.
What is the Loan Limit?
The Fee-Help limit in 2014 is $120,002 for medicine, dentistry and veterinary science students (as defined in the Higher Education Support Act 2003) and $96,000 for all other students. This amount is indexed each year.
What are the Fees and Charges?
No application fees are charged for requesting Vet Fee-Help assistance. A 20% loan fee applies to full fee-paying students receiving Vet Fee-Help assistance. The loan fee is included in your Vet Fee-Help debt and will not decrease your Fee-Help loan limit. No interest is charged to your Vet Fee-Help debt, however, your debt is indexed annually by the Australian Taxation Office (ATO) to maintain its real value. If you do not have a Tax File Number (TFN) you can request one from the Australian Taxation Office.
What are the Repayments?
Vet Fee-Help debts become part of your accumulated HELP debt. You must start repaying your accumulated HELP debt when your repayment income is above the minimum repayment threshold for compulsory repayments. The minimum repayment threshold for compulsory repayment is $53,345 for the 2014-15 financial year. The repayment thresholds are adjusted each year to reflect any changes in average weekly earnings. You can make voluntary repayments to reduce your HELP debt at any time and for any amount. Making a voluntary payment will reduce your debt immediately. Helpful Links & Documents The Vet Fee-Help Information booklet is designed to assist students to understand Vet Fee-Help, and their rights and responsibilities when accessing Vet Fee-Help assistance.