VET STUDENT LOANS (VETSL) INFORMATION

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WHAT IS VET STUDENT LOANS (VETSL)?

VET Student Loans (VETSL) is a scheme provided by the Australian Government to enable eligible full-fee paying students the opportunity to apply for a loan. VET STUDENT LOAN (VETSL) assists eligible full fee-paying students undertaking the SHB50121 Diploma of Beauty Therapy to pay a $18,097 (2024) contribution towards students tuition fees. This loan is to assist in the payment of all or part of a student’s tuition fees for a VET course of study in which the student is enrolled.

Casey College of Beauty Therapy Pty Ltd is a signatory to the VET Student Loans Code of Practice, demonstrating its commitment to the principles and practices of good services to students and effective complaint handling.

In order to be eligible for VET STUDENT LOANS, applicants must be an Australian Citizen and hold (or be applying for ) a Tax File Number and meet the student entry procedure requirements - see the Information for VET STUDENT LOAN Students website and download the 2023 student booklet for full details of eligibility requirements.

Students repay their loan to the Australian Government through the tax system once a student earns the minimum threshold level for repayment, which for 2024-2025 is $54,435.00 per year (approx $1,046.00 per week). Once a student earns $1,046.00 per week, their required weekly repayment is approximately $18 per week. Download the VET STUDENT LOAN STUDENT BOOKLET booklet for full repayment details.

The loan will remain as a personal debt obligation until it is repaid to the Commonwealth. VET Student Loans Information for Vet Student Loans and Information for VET Student Loans approved providers The signed Request for Commonwealth Assistance form applies to a loan for the entire VET course of study and is charged on a unit of study basis unless the student pays some of the tuition fees. The loan is spread across the course with 4 census days one in each fee period. This scheme is an extension of the HELP loan scheme (currently applicable to higher education students) and extends to students studying one or more of the following courses:

• Diploma
• Advanced Diploma
• Graduate Certificate
• Graduate Diploma

HOW DO I ACCESS A VET STUDENT LOAN (VETSL)?

After attending an individual course consultation to ensure that the applicant is making an informed decision about their career pathway. During this enrolment process, the applicant may need to undertake a Language, Literacy and Numeracy test to ensure that the applicant is academically suited to the chosen course. The application must also satisfy the student entry requirements. Casey College of Beauty Therapy will advise the Department of Employment and Workplace Relations that you wish to access the VET Student Loan (VETSL) scheme.

After enrolment, the applicant will then receive an email from the Department of Employment and Workplace Relations with a username and password. You will require these details to create an online application. You will need a USI number and tax file number when applying online. Casey College will provide you with further information and how to proceed with this.

All applications are signed electronically and the application will be treated as having been signed if the communication contains:

• Tax file number
• Student must acknowledge they have read and understood the terms and conditions of the application
• Student confirmation the information contained in the application is accurate
• Student Identification Number
• Students under 18 will be required to print out the application form and a signature from a guardian will be needed. The application will then need to be given to the college.
• In the instance where a student is under 18 but is non dependent, proof of independence will be required.
• By signing and submitting the form the person accepts that the VET Provider will automatically use the VET Student Loan (VETSL) for those VET units of study and the this will contribute to the course unless the student advises the college in writing that they do not wish to use VET Student Loans (VETSL) as their method of paying tuition fees.

STUDENT WITHDRAWAL PROCEDURES

Students who wish to withdraw from a vet course of study or from a vet unit of study must refer to the VSL Student Withdrawal and Deferral From Study policy and procedure


REFUND POLICY (vet student loan (VETSL) eligible course)

A full refund will be issued to a student if the course has been cancelled or delayed for three weeks or more, If a student makes the decision to withdraw from the course prior to commencement of the course then a full refund minus the $100 deposit will apply,

If a Student withdraws from a vet course of study or a vet unit of study before the vet student loan census date then the student will not incur a Vet Student Loan (VETSL) debt for that unit of study. A withdrawal fee will not apply and any tuition fees that have already been paid prior to commencing will be refunded. If a Student withdraws from a vet course of study or a vet unit of study after the vet student loan census date then the student will incur a Vet Student Loan (VETSL) debt for the unit of study. A refund will not be issued and any refund of tuition fees paid upfront is not applicable.

Casey College will issue an invoice 14 days prior to the census day for each unit of study. You will also receive a VETSL Statement of Fees Notice 14 days before the first census day. On the census day the student will incur a VETSL debt for the units of study contained in the invoice notice if the student has not withdrawn from the VET unit of study prior to the census day indicated on the invoice notice or has paid upfront some or all the amounts due for the VET unit of study.


AM I ELIGIBLE FOR VETSL ASSISTANCE?

In order to be eligible for VETSL assistance, a student must meet the following requirements:

• Entry criteria must be satisfied
• Be a full paying student
• Be an Australian Citizen or hold a Permanent Humanitarian sub-class visa
• Have not been offered an inducement to undertake the qualification of study;
• Be a New Zealand citizen who:
• Holds a special category visa
• First entered Australia as a minor under 18 years of age
• Has lived in Australia for 8 of the last 10 years
• Has lived in Australia for at least 18 months in the past 2 years.
• Have a HELP loan balance greater than zero – that is, they have not exceeded their HELP loan limit;
• Be enrolled in a unit of study that meets the course requirements;
• Be enrolled in the unit of study on or before the census day for the unit and remain enrolled at the end of the census day;
• Meet the Tax File Number (TFN) requirements;
• You must first enrol with Casey College and indicate you wish to access a VET Student Loan (VETSL). Casey College will then give the department your enrolment information, including the nearest applicable census day, through the electronic Commonwealth Assistance Form (eCAF) system. Casey College will provide you with all information on how to submit the eCAF.
• Casey College will provide you with further information for when you need to advise the Department of Employment and Workplace Relations if you wish to continue to use the VETSL scheme through the course.

WHAT IS THE ENTITLEMENT UNDER THE VETSL SCHEME?

Over their lifetime, a student will be able to borrow up to the amount of their HELP loan limit which is indexed annually by the Australian Government. Repayments do not reset the maximum that can be borrowed. The HELP loan limit for 2023 is $113,028 for most students.


WHAT DOES VETSL COVER?

VETSL extends only to tuition fees. It does not cover accommodation and general living expenses. It is important to note that a loan fee of 20% applies to VETSL. This fee is payable to the Australian Government and added to your loan. It is also not included in the HELP loan limit. In addition to the loan fee, your loan is also indexed each year. It increases annually on June 1st to maintain its real value, adjusting in line with changes in the cost of living ( as measured by the Consumer price Index figures released in March each year).

PLEASE NOTE: VET Student Loans (VETSL) will not be approved for students who do not meet eligibility requirements. A VETSL gives rise to a HELP loan debt that continues to be a debt to the Commonwealth until it is repaid.


STUDENTS UNDER THE AGE OF 18

If you are under 18 years of age, a parent or guardian must co-sign the form. However, this is not necessary if you have been assessed by Centrelink as meeting the requirements for receiving the independent rate of Youth Allowance under part 2.11 of the Social Security Act 1991.

You will need to provide evidence of this assessment in the form of your Centrelink Income Statement, which you can request by logging into myGov and selecting your Centrelink online account. For more information, visit https://www.servicesaustralia.gov.au/centrelink-online-account-help-request-document.

For further VET STUDENT LOAN (VETSL) information please visit the Australian Government VET STUDENT LOAN website.

To attend our Information Session click on the following link:
INFORMATION SESSION


Tuition Assurance

The Tuition Protection Service (TPS) is an initiative of the Australian Government to assist international students and eligible domestic students accessing a VET Student Loan (VSL), whose education providers are unable to fully deliver their course of study. The TPS ensures that these students are able to either:

- complete their studies in another course or with another education provider or
- receive a refund of their unspent tuition fees (international students)
- or a re-credit of their loan for open units of study (VSL).

In the unlikely event, that CCBT ceases to provide a course after it starts but before it is completed, there are arrangements in place to ensure a replacement course is identified and the student is placed with a suitable provider.

Please refer to a statement of tuition assurance. Please see below document:

Important Information

What is a Census Day?

This is a date by which you may cancel your enrolment without incurring tuition fees for the course or a part of the course is a census day.

What is a Commonwealth Assistance Notice (CAN)?

After the census date (no later than 28 days), your provider will send you a CAN. The CAN includes important information about your enrolment, any VETSL debt you have incurred or student contribution amounts you have paid, and any loan fee you may have incurred.

What is a Fee Notice?

A Fee Notice is given to you a minimum of 14 days before your upcoming Census Day. It tells you the: amount covered by VET Student Loan, amount you must pay yourself (if any) loan fee amount What is an Electronic Confirmation of Enrolment Form (eCAF)? An eCAF is when you confirm you wish to use VSL for your course through the electronic Commonwealth Assistance Form