VET Student Loans
VET Student Loans Student Entry Procedure
To be eligible to apply for a VET Student Loan, you must meet both the qualification entry and academic suitability requirements.
Qualification Entry Requirements and Academic Suitability
Each qualification has specific entry requirements that you must satisfy. These are:
- The stated entry requirements for the qualification or unit/s of study. Information specific to each qualification, including course structure, entry requirements (for example, prior qualifications or industry experience) plus course content and outcomes, fees, delivery and assessment arrangements can be found for each qualification listed on the Acknowledge Education websites.
- To meet academic suitability requirements. That is, you need to either:
a) have completed Year 12 and provide Acknowledge Education with a copy of your Senior Secondary Certificate of Education awarded to you by an agency or authority of a State or Territory; or
b) complete an approved language, literacy and numeracy (LL&N) assessment administered by Acknowledge Education and display competence in the Australian Core Skills Framework (ACSF) at or above Exit Level 3 in both reading and numeracy.
Note 1: Acknowledge Education will use the results from the LL&N assessment to form a reasonable opinion that a student is (or is not) academically suited to undertake the chosen VET course of study. There may be occasions where it is suggested that you undertake an alternative qualification based on these results and your career goals.
Note 2: The results of your LL&N test will be formally communicated to you as soon as practicable after the assessment. A copy of your LL&N test results will be retained by Acknowledge Education for at least five (5) years after you enrol and may be made available to the Commonwealth Authority on request.
- All Acknowledge Education students are required to meet with a teacher to discuss their specific needs and suitability for the qualification prior to enrolment.
VET Student Loans Eligibilities
When you meet the above qualification entry criterion, you are eligible to apply for a VET Student Loan up to a capped amount, if you:
- Have not been offered an inducement to undertake the qualification of study; AND
a) are an Australian citizen,
b) hold a permanent humanitarian visa holder (resident in Australia for the duration of the unit/s of study); or
c) are a qualifying New Zealand citizen who:
holds a special category visa;
first entered Australia as a minor under 18 years of age;
have lived in Australia for at least 8 of the last 10 years; or
have lived in Australia for at least 18 months in the last two years.
- Have not exceeded your FEE HELP limit.
Note: The maximum loan amount (including higher education courses) you can borrow from the Australian Government for 2018 is $102,392 for most students other than students undertaking medicine, dentistry and veterinary science qualifications.
Repayment of the loan is required when your income reaches the repayment threshold. The threshold can be found at www.studyasssit.gov.au.
- Are enrolled in an Eligible Course for VET Student Loans in a Diploma or Advanced Diploma level qualification offered by Acknowledge Education.
Administrative VET Student Loans Requirements:
There are other important administrative requirements that you need to be aware of when applying for VET Student Loans. Please ensure that you:
- Are enrolled by the Census date for the qualification or unit/s of study. Census dates can be obtained from Acknowledge Education student support officers or on the website.
- Submit a valid ‘Request for VET Student Loan form’ fourteen (14) days before your Census date.
- Have a Tax File Number or a Certificate of Application for a Tax File Number.
- If you are under the age of 18, your application must be co-signed by a parent or guardian (unless you are certified as independent).
Once you are deemed eligible to access a VET Student Loan:
- Acknowledge Education is required to provide a ‘cooling off’ period. Your request can only be processed after two (2) business days following your enrolment into the unit/s of study for the qualification.
- If you enrol less than sixteen (16) business days before the Census date for the unit/s of study for the qualification you will not be eligible for a VET Student Loan for those unit/s. In essence this means that your VET Student Loan application should be 16 days prior to census date, which consists of the two (2) day ‘cooling off’ period plus the fourteen (14) day submission period for Request for VET Student Loan Form.
For further information about VET Student Loans, please read the Study Assist website.
Click here to view the 2017 VET Student Loans schedule.