VET Student Loans

 

What is the VET Student Loans program?

The VET Student Loans scheme is a loan program designed to help eligible students enrol and gain a quality higher level Vocational Education and Training at Media Makeup who could not otherwise afford to pay fees upfront.

If you are an eligible student, the Department of Education and Training (the department) may approve your VET Student Loan for an approved course. The department will pay your loan directly to your approved course provider. You will be responsible for any gap amount in the tuition fees, which are not covered by the loan.

You will owe a debt to the Australian Government for the loan, which will be managed by the Australian Taxation Office (ATO).

For more information visit www.education.gov.au/vet-student-loans

VET Student Loan is only available for Approved Course Providers and Approved Courses.

Media Make up Academy & Agency Pty Ltd is an approved provider and CUA51015 Diploma of Screen and Media (Specialist Make-up Services) in and approved course.

Loan Caps

Eligible students will be entitled for loans up to a capped amount of $10,150 for CUA51015 Diploma of Screen and Media (Specialist Make-up Services) Students will be required to pay a Gap Fee for the difference between the capped Loan amount and the course fee, know as a Gap Fee.

What is the Census Date?
The census date is the last date which students can withdraw from a unit of study without incurring a debt for that unit of study. A student’s census date is calculated as their nominated start date plus 20% of the course duration.

Repayment of VET Student Loans

Repaying the loan is required when your income reaches the repayment threshold.

The threshold can be found at www.studyassist.gov.au

VET Student Loans gives rise to a HELP debt that continues to be a debt due to the Commonwealth until its repaid.
 

Statement of Tuition Assurance for VET Student Loans

Download Statement of Tuition Assurance

 

What do you need to know before you enrol?

(1) Decide on your preferred course and check if the course is an approved VET Student Loans course

(2) Check if you meet the eligibility and entry requirements. Be prepared to provide evidence of identification (including           Australian Birth Certificate or copy of your Visa), records of your past academic qualifications and undertake 
      the Language, Literacy and Numeracy assessment when is required

(3) You must have ready a Tax File Number. This detail is required on your loan application form

(4) Read VET Student Loans Booklet 2017

 

Is there a loan fee?

Non State Government subsidised students will be charged a 20% loan fee. The loan fee is added to the student loan, but is not included within the student's lifetime FEE-HELP limit.

 

What happens if I withdraw

If you are an eligible student studying a Diploma and withdraw before the census date you will receive a full 100% refund of any tuition fees you have paid upfront and will not incur a student loan debt. 

If you are an eligible student studying a Diploma and withdraw after the census date you will incur a debt, unless the debt is remitted under special circumstances. If special circumstances apply, you will need to apply for a refund/recredit. Please refer to our policies for further information.