VET Student Loans Options Available at New England College

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VET Student Loans

VET Student Loans:

VET Student Loans commenced on 1 January 2017, replacing the VET FEE-HELP scheme.

If you’re looking for a course with a student loan option for 2017, New England College has been approved to deliver courses for the new VET Student Loans program.

Eligible students can access a VET Student Loan to study of a range of courses at the Diploma level and above.

How does a VET Student Loan work?

If you are eligible, you can access a VET Student Loan up to a certain amount (called a cap) for a range of programs.

New England College receives your tuition fees from the Australian Government and you repay your loan through the Australian tax system. When your income reaches the repayment threshold, you start making repayments until you have repaid the whole loan amount.

A VET Student Loan is only for tuition fees, and doesn't cover additional study costs such as your text books, materials and accommodation.

Am I eligible for a VET Student Loan?

To be eligible for a VET Student Loan you must meet the following criteria:

  • You must be:
    • an Australian citizen, or
    • a New Zealand Special Category Visa (SCV) holder who meets the long-term residency requirements, or a permanent humanitarian visa holder.
    • Not exceeded the FEE HELP limit.
  • Enrolled with an approved course provider in an approved course.
  • Studying the approved course primarily at a campus in Australia.
  • Meet the Tax File Number (TFN) requirements.
  • Have a Unique Student Identifier (USI) or are otherwise exempt.
  • Have read the 2017 VET Student Loans information booklet.
  • Provided the required documents to New England College and submitted the loan application form by the first census day which is no less than two business days after enrolling.

Are you ready to start studying?

Before you can access a VET Student Loan, New England College will assess whether you are academically suited to undertake the approved course on the basis of either:

  • Providing your Australian Year 12 Certificate; OR
  • Providing  evidence of successful completion of an Australian Qualifications Framework certificate IV or higher qualification (where the language of instruction is English), or
  • Displaying competence at Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy through an approved Language, Literacy and Numeracy test.

In addition, New England College must reasonably believe you will be able to successfully complete the course.

What is a Census Date?

The census day is a very important date for you to know about!

The census day for a course, or a part of a course, is the last day you can:

  • Complete the eCAF to apply for a VET Student Loan for your course, or
  • Withdraw your enrolment without incurring a debt for the course or part of the course.
  • Every part of a course (unit or subject) has its own census day, so that you incur debts as you progress through your course, not for the whole course at the beginning. Every course has 3 census days spread reasonably evenly throughout your course. The census dates are published for every course on the website for your reference. 
  • If you are unsure of your census days, check the website or contact us directly to confirm the census day for each unit of study, you enrol in and whether withdrawal is limited to your provider’s business hours.

How much can I borrow?

You can borrow up to the FEE-HELP limit to pay your tuition fees. The FEE-HELP limit is the total amount available to you under VET Student Loans, VET FEE-HELP and FEE-HELP over your lifetime. Any amount you borrow under VET Student Loans, VET FEE-HELP or FEE-HELP will be added together until you reach the FEE-HELP limit. 

For 2017, the FEE-HELP limit is $100,879 for most students.

The FEE-HELP limit is a lifetime limit and is not reset or ‘topped up’ by any repayments that you make.

How do I apply for a VET Student Loan? 

To apply for a VET Student Loan you must complete the Request for a VET Student Loan eCAF by the census day.

You must first enrol with New England College (NEC) to indicate your wish to access a VET Student Loan through the online application form and complete the online Core Skills Profile for Adults (CSPA) Entrance Test with an exit level of 3 or above. This is free of charge, unless you have completed year 12 or a Certificate IV or above qualification in English.

Once enrolled there is a 2 day “Cooling Off” period, where you may seek information and external advice regarding a VET Student loan. 

NEC will then give the department your enrolment information, including the nearest applicable census day, through the electronic Commonwealth Assistance Form (eCAF) system.

You will then receive an email with Log in details and password allowing you to sign into the eCAF system.

Once you sign-in, you will need to verify the pre-populated information and complete the mandatory fields. You can then submit the eCAF, which will cause the system to email you a copy of your completed form. You should keep this form for your records.

If you do not complete the eCAF, or other permitted form, by the required date for your course, you will have to wait until the next part of your course /unit, next semester or trimester to request a VET Student Loan for future study. Retrospective access to VET Student Loans is not allowed under any circumstances

Is there a loan fee?

Yes, for most students. A 20 per cent loan fee applies to VET Student Loans for full fee paying / fee for service students. The loan fee does not count towards your FEE-HELP limit. 

You do not pay the loan fee if you are a student who is subsidised by a state or territory government.

When do I start paying back my loan? 

Your VET Student Loans debt forms part of your accumulated HELP debt. You must start repaying your HELP debt through the tax system once your income is above the compulsory repayment threshold, even if you are still studying. 

The threshold is adjusted each year and for the 2016–17 income year it is $54,869 or above.


Other Links:

Student Information Handbook: From 1 January 2017, VET Student Loans was introduced. All students must read this booklet when applying for a VET Student Loan.



From 1 January 2017 VET FEE‑HELP will cease and a new VET Student Loans program will commence. Students currently financing their studies through a VET FEE‑HELP loan will not be automatically transferred to the new VET Student Loans program.

Students currently financing their studies through a VET FEE-HELP loan will not be automatically transferred to the new VET Student Loans program. 


Important information :

VET Student loans – Fee Schedules

CourseFee Schedule
AUR50116Diploma of Automotive ManagementTimetable
AUR50216Diploma of Automotive TechnologyTimetable
BSB50215Diploma of BusinessTimetable
FNS50215Diploma of AccountingTimetable
Leadership and Management
BSB51915Diploma of Leadership and ManagementTimetable
Community Services
CHC50113Diploma of Early Childhood Education and CareTimetable
SIT50416Diploma of Hospitality ManagementTimetable