VET Student Loans

What are VET Student Loans?

An Australian Government loan scheme for the Vocational Education and Training (VET) sector that is part of the Higher Education Loan Program (HELP), VET Student Loans can assist eligible students undertaking certain VET courses of study (diploma, advanced diploma, graduate certificate and graduate diploma courses).

VET Student Loans are one way to pay some or all of the costs involved with your training course. A VET Student Loan is a loan from the Commonwealth, which allows you to borrow money to help pay for the cost of an eligible training course. Other methods of payment can include payment plans or credit card. All fees are paid progressively throughout your course.

From January 2017, VET Student Loans replaces the previous VET FEE-HELP system. For information on these changes, please click here.

The loan is available to students who meet the eligibility criteria. To be eligible, a student must:

  1. Be an Australian citizen, a New Zealand Special Category Visa (SCV) holder who meets the long-term residency requirements, or a permanent humanitarian visa holder.
  2. Have not exceeded the FEE-HELP limit.
  3. Provide your Australian Year 12 Certificate; OR evidence of successful completion of an AQF Certificate IV or higher (where the language of instruction is English); OR display competence at Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy through an approved test. (BCA National can provide an ASCF test to you if required)
  4. Meet the Tax File Number (TFN) requirements.
  5. Have a Unique Student Identifier (USI).
  6. Have read the 2017 VET Student Loans information booklet.

As it is a loan, a VET Student Loan will remain a personal debt in your name until it is repaid to the Commonwealth. The loan may, until it is repaid, reduce your after-tax wage or salary, and may reduce your borrowing capacity. As with any loan, you may wish to seek independent financial advice before you take out a VET Student Loan.

Information on our entry procedures and the process of applying for a VET Student Loan is available here: VET Enrolment Procedures

The VET Student Loan amount will be paid to your training provider in several stages, reasonably divided across a number of fee periods. Each fee period will include at least one census day- see 'Census dates', below, for more information. If you withdraw from a course or from part of a course before the census day, you will not incur a VET Student Loan debt for the course or part of the course you have withdrawn from, and will receive a refund for the tuition fees already paid for the course or parts of the course that you have not yet taken.

You will only be charged for the UOS you are engaged with, participating in and intending to complete. If you are marked as at risk after Census one, you will not be progressively charged until you have noted you wish to continue with your enrolment and we have this on record.

During the course, you may be required to communicate your agreement that your VET Student Loan continue to be used to pay your course tuition fees.

Please let your Training Coordinator know of any change in your contact details.

 

What happens if I am not eligible for VET Student Loans?

Students who are ineligible for VET Student Loans can opt to pay for their own tuition fees. Payment plans are available and our Admissions Team can advise you on a suitable plan to meet your needs.

Please note: If you opt to pay for your own tuition fees, BCA National cannot accept payment of more than $1,000 from you prior to the commencement of your chosen course. After your course starts, any outstanding tuition fees will be divided into equal instalments for the duration of your payment plan so you do not pay more than $1,500 in advance for training yet to be delivered.

How much can I borrow for my course?

There is a maximum amount that you can borrow as a VET Student Loan to pay for an eligible course. The amount which can be borrowed varies depending on the course that is being taken. The amounts which can be borrowed for eligible courses that are offered by BCA National are:

Course VET Student Loan Limit Course Cost

Advanced Diploma of Community Sector Management CHC62015

$5,075 $9,000

Advanced Diploma of Leadership and Management BSB61015

$5,075 $7,000.20
Advanced Diploma of Business BSB60215

$5,075

$13,500
Diploma of Accounting FNS50215

$5,075

$7,000
Diploma of Leadership and Management BSB51915

$5,075

$5,600
Diploma of Business BSB50215

$5,075

$5,600
Diploma of Mental Health CHC53315

$10,150

$10,800
Diploma of Child, Youth & Family Intervention CHC50313

$10,150

$10,600
Diploma of Community Services CHC52015

$10,150

$10,600
Diploma of Counselling CHC51015

$10,150

$10,800
Diploma of Early Childhood Education & Care CHC50113

$10,150

$12,000
Diploma of School Age Education & Care CHC50213

$10,150

$11,300
Diploma of Sport Development SIS50612

$10,150

$11,000

 

The amount that you can borrow on a VET Student Loan cannot exceed your remaining FEE-HELP balance or exceed the loan limit set for each qualification.

For 2018, the maximum FEE-HELP amount that can be borrowed is $102,392 for most students. The FEE-HELP limit is a lifetime limit that represents the maximum total of funds that can ever be loaned to you by the Commonwealth towards your higher education costs. Even when you have repaid a FEE-HELP loan, the amount borrowed still counts against your overall FEE-HELP limit.

After administration costs, the debt that you incur for your VET Student Loan may be up to 120% of the loan amount. 

Tuition costs for BCA National's courses are available here: Schedule of Fees for 2018

Census dates

The census date is the last date at which you can withdraw from a unit of study without incurring a VET Student Loan debt for that unit of study. A Unit of Study is a group of units of competency or subjects that make up part of your training program. The census date will be no less that 20% into the unit of study. 

Tuition fee payments paid through your VET Student Loan are taken after each census date. The census dates for BCA National courses are listed below.

For a 12 month Course (program) there are 4 units of study and 4 census dates. When you enrol in a course you will be enrolled in all the UOS required for that qualification. Should you wish to withdraw please notify your Training Coordinator immediately – follow the student withdrawal process.

The census date falls on day 19 of each unit of study. If census occurs on a non-business day, you will have until COB on the next business day after your census to withdraw.

  1. The first unit of study (Unit of Study 1) starts on the commencement date (day  0)
  2. The second unit of study (Unit of Study 2) starts on day 92 from the enrolment start date
  3. The third unit of study (Unit of Study 3) starts on day 184 from the enrolment start date
  4. The fourth unit of study (Unit of Study 4) starts on day 276 from the enrolment start date

For an 18 month Course (program) there are 6 units of study with the exception of CHC50113 Diploma of Early Education and Care and CHC50213 Diploma of School Age Education and Care. When you enrol in a course you will be enrolled in all the units of study required for that qualification. Should you wish to withdraw please notify your Training Coordinator immediately – follow the withdrawal process.

The census date falls on day 19 of each unit of study as detailed below. If census occurs on a non-business day, you will have until COB on the next business day after your census to withdraw.

  1. The first unit of study (Unit of Study 1) starts on the commencement date (day  0)
  2. The second unit of study (Unit of Study 2) starts on day 92 from the enrolment start date
  3. The third unit of study (Unit of Study 3) starts on day 184 from the enrolment start date
  4. The fourth unit of study (Unit of Study 4) starts on day 276 from the enrolment start date
  5. The fifth unit of study  (Unit of Study 5) starts on day 368 from the enrolment start date
  6. The sixth unit of study (unit of Study 6) starts on day 460 from the enrolment start date

CHC50113 Diploma of Early Education and Care and CHC50213 Diploma of School Age Education and Care are both 18 months long and have 4 units of study each (eight to do both qualifications as a dual qualification) Note:  Both qualifications can be achieved in 24 months due to some units of competency being common in both qualifications).  Should you wish to withdraw from your program please notify your Training Coordinator immediately – follow the withdrawal process.

Census date falls on day 28 of each unit of study as detailed below. If census occurs on a non-business day, you will have until COB on the next business day after your census to withdraw.

  1. The first unit of study (Unit of Study 1) starts on the commencement date (day 0)
  2. The second unit of study (Unit of Study 2) starts on day 138 from the enrolment start date
  3. The third unit of study (Unit of Study 3) starts on day 276 from the enrolment start date
  4. The fourth unit of study (Unit of Study 4) starts on day 414 from the enrolment start date

For further information or to enrol, please email our Admissions Team or call us on 1300 79 67 87.

Further Information