Enrolments

VET FEE-HELP

The Australian Academy of Beauty and Spa Therapy is pleased to announce that it has been granted approval for by the Australian Government as an approved VET FEE-HELP Provider.

What is VET FEE-HELP?

VET FEE-HELP is a scheme provided by the Australian Government to enable eligible full-fee paying students the opportunity to apply for a loan. Such a loan is to aid in the payment of all or part of a student’s tuition fees. This scheme is an extension of the FEE-HELP scheme (currently applicable to higher education students) and extends to students studying one or more of the following vocational training courses:

• Diploma
• Advanced Diploma
• Vocational Graduate Certificate
• Vocational Graduate Diploma

How do I access VET FEE-HELP?

VET FEE-HELP is accessed via a Registered Training Organisation (RTO) who has been authorised by The Australian Government to be an approved VET FEE-HELP Provider. The Australian Academy of Beauty and Spa Therapy is one of a few beauty colleges able to offer this facility.

What is needed to be eligable for VET FEE-HELP assistance?

To be eligible for VET FEE-HELP assistancefor a VET unit of study, a student must:

• be a full fee-paying student;
• be an Australian Citizen or a holder of a Permanent Humanitarian sub-class visa (holders of permanent visas and New Zealand citizens are not eligible for VET FEE-HELP assistance.)
• have a FEE-HELP balance greater than zero – that is, they have not exceeded their FEE-HELP limit;
• be enrolled in a VET unit of study that meets the course requirements;
• be enrolled in the VET unit of study on or before the census date for the unit and remain enrolled at the end of the census date;
• meet the Tax File Number (TFN) requirements;
• have completed, signed and lodged with their VET Provider, a Request for VET FEE-HELP assistance form.

What is the census date?

The census date of a VET unit of study is the last day a student can submit their Request for VET FEE-HELP assistance form to defer their tuition fees through the VET FEE-HELP scheme. It is a date the VET Provider sets which is no earlier than 20% of the way through the period in which the unit of study is undertaken.

How does VET FEE-HELP work?

Following the successful lodgement and assessment of a Request for VET FEE-HELP assistance form, the Australian Government will pay directly to the VET Provider, the full amount of the tuition fees associated with a student’s course. This loan is then repaid by the student via the tax system in compulsory and/or voluntary contributions.

What is the entitlement under the VET FEE-HELP scheme?

Over their lifetime, a student will be able to borrow up to the amount of their FEE-HELP limit which is indexed annually by the Australian Government. Repayments do not reset the maximum that can be borrowed.
The FEE-HELP limit for 2010 is $85,062.

What does VET FEE-HELP cover?

VET FEE-HELP 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 VET FEE-HELP loans. This fee is payable to the Australian Government and added to your loan. It is also not included in the FEE-HELP limit.

When do the first repayments start?

A student’s first loan repayment starts when their employment income exceeds the minimum threshold permitted for the specific financial year. For the 2009/2010 year, the repayment threshold is $43,151.

What else do I ned to know about VET FEE-HELP?

• A VET FEE-HELP loan can be used to help a student articulate to university and can be applied to a student’s VET tuition fees - provided their total FEE-HELP limit has not been exceeded.
• Eligibility for VET FEE-HELP is not affected by previous qualifications or your study results.

For more information on VET FEE-HELP, you may:

• refer to the VET FEE-HELP Student Information Booklet for 2010.
• visit Department of Education, Employment and Workplace Relations.
  To obtain a Request for VET FEE-HELP assistance Form please see the Principal.