Explore your cost and payment choices, read about the VET scholar Loan system and always check your eligibility
13 May, 2020 | By Magnus Frejd |
How exactly does it work?
The VET student education loans program permits qualified pupils to repay their tuition costs for almost any authorized diplomas or advanced diplomas (see Is just a VET Student Loan readily available for my program? ).
- Repay all your valuable tuition costs (up to the loan restriction limit) whenever your earnings reaches the payment limit
- Spend a number of your tuition costs upfront and repay the total amount as soon as your earnings reaches the payment limit.
Your loan is paid back through the Australian income tax system once you reach the minimum earnings threshold for repayment. The income that is minimum for repayment is defined by the Commonwealth every year and it is posted on learn help in the VET student education loans information booklet. There was that loan charge of 20% for complete students that are fee-paying. There is absolutely no loan charge for qualified pupils in certain NSW Government subsidised (Smart and talented) training places.