NTD offers you access to VET FEE-HELP-funded courses provided by some of Australia’s leading colleges including Keystone College, Aspire College of Education, Compass Business College, Designworks, English International, Athena Institute of Health & Beauty, Martin College, Australian Institute of Applied Sciences, Careers Australia, Queensland Academy of Technology & Ikon Institute of Australia. This means you can enrol today and get started on achieving your career goals and all upfront tuition costs are paid for by the Australian Government as a student loan on your behalf. It lets you study now and pay later! The added benefit is that you don’t start making repayments until you are earning over $54,126 per annum. Here are just some of the many advantages you receive when you enrol in a VET FEE-HELP funded course with the assistance of NTD:
- No upfront fees for eligible applicants on any VET FEE-HELP approved course
- Diploma-level courses can be completed in as little as six months with strong pathways to employment
- Small classes with close trainer support to ensure you succeed
- Free assistance or support for reading and writing throughout your studies
- Our Learning Lounges come with the added benefit of much greater flexibility and support throughout your studies
- Any Australian citizen or holder of a Humanitarian visa can apply
- You may also qualify for Education Entry Assistance from Centrelink to assist in paying for text books etc.
What is VET FEE-HELP?
VET FEE-HELP is an Australian Government loan scheme that helps eligible students pay their tuition fees for higher level VET courses undertaken at approved VET FEE-HELP providers.
What is an approved VET FEE-HELP provider?
An organisation that has been approved by the Australian Government to offer VET FEE-HELP loans to its students.
Am I eligible for VET FEE-HELP?
You may be eligible for a VET FEE-HELP loan if you:
- Are an Australian citizen or permanent humanitarian visa holder (resident in Australia for the duration of the unit of study) AND;
- Are a full fee-paying / fee-for-service student studying a diploma, advanced diploma, graduate certificate or graduate diploma at an approved VET FEE-HELP provider; OR
- Are a student subsidised by the Victorian, South Australian, Queensland or Western Australian State Government studying a diploma or advanced diploma course or a limited number of Certificate IV courses; AND
- Have not exceeded the FEE-HELP limit (see below); AND
- Meet the tax file number (TFN) requirements: OR
- If you don’t have a TFN you can give your provider a Certificate of application for a TFN. This certificate is available from the Australian Taxation Office after you have applied for a TFN; AND
- Submit the Request for VET FEE-HELP Assistance Form to your VET provider prior to the census date.
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 taxations
How do I apply for VET FEE-HELP?
To apply for VET FEE-HELP you need to submit a Request for VET FEE-HELP assistance form by the census date indicated by your approved provider on their website. The form is only available from approved providers and you must submit the form to them. You will need to provide your tax file number to complete the form.
How much can I borrow?
In 2015 the FEE-HELP limit is $97,728 for most students. If you are studying a medicine, dentistry or veterinary science course that leads to provisional registration to practise in one of those fields, your FEE-HELP limit is $120,002. This limit is indexed on 1 January each year.
Is there a loan fee?
Depending on where you are studying, you may attract a loan fee of up to 20 per cent for your VET FEE-HELP loan. This is included in your VET FEE-HELP debt. There is no interest on VET FEE-HELP loans but your debt total is adjusted (indexed) each year to keep its real value.
How do I repay the loan?
You have to start repaying your HELP debt through the taxation system once your repayment income is above the compulsory repayment threshold, even if you are still studying. The compulsory repayment threshold is adjusted each year. For the 2015-16 income year, the compulsory repayment threshold is $54,126. Repayment income is calculated from the amounts given on your income tax return for:
- Your taxable income;
- Reportable fringe benefits (reported on your payment summary);
- Total net investment loss (which includes net rental loss);
- Reportable super contributions; and
- Exempt foreign employment income amounts.
Helpful links and 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. For a copy of the booklet:
- Contact your approved provider
- Download the VET FEE-HELP information booklet
- Call the Australian Department of Education on 1300 566 046.