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 2018 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. Students who do not meet the eligibility requirements above will not be approved for 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 inand intending to complete and have passed your census date. You will not be able to progress to your next unit of study until you have completed the current unit of study  

We monitor your progress throughout the course. If you have not progressed sufficiently you may not be able to progress to the next unit of study. We may make recommendations if you are unable to maintain progression as per your study plan. One of the options may be that your next census date be moved to a later date. This will be need to be discussed with and arranged by your training coordinator. 

BCA National will only allow a deferral in extenuating circumstancesNo deferral will exceed 3 months and you will need to provide written approval to reinstate your VET Student Loan and recommence your course.

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 BSB51918

$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 8 units of study and 8 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 for each unit of study falls 14 days after the commencement of that unit of study, as follows:

  1. Census 1           14 days from commencement of your course
  2. Census 2           51 days from commencement of your course
  3. Census 3           107 days from commencement of your course
  4. Census 4           156 days from commencement of your course
  5. Census 5           199 days from commencement of your course
  6. Census 6           245 days from commencement of your course
  7. Census 7           291 days from commencement of your course
  8. Census 8           337 days from commencement of your course

For an 18 month Course (program) there are 12 units of study. 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 for each unit of study falls 14 days after the commencement of that unit of study, as follows:

  1. Census 1           14 days from commencement of your course
  2. Census 2           51 days from commencement of your course
  3. Census 3           107 days from commencement of your course
  4. Census 4           156 days from commencement of your course
  5. Census 5           199 days from commencement of your course
  6. Census 6           245 days from commencement of your course
  7. Census 7           291 days from commencement of your course
  8. Census 8           337 days from commencement of your course
  9. Census 9           386 days from commencement of your course
  10. Census 10         429 days from commencement of your course
  11. Census 11         474 days from commencement of your course
  12. Census 12         521 days from commencement of your course

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

Further Information