VET FEE-HELP changes: what you need to know

In October 2016, the Australian Government proposed legislation to replace the current VET FEE-HELP loan scheme with the VET Student Loans scheme. This legislation was effective 1st January, 2017.

We’ve put together a quick snapshot of how the changes may impact you, as this can vary depending on your individual circumstances, chosen course and when you expect you’ll finish.

You should also visit the Department of Education and Training's VET Student Loans webpage for the latest updates and for any additional questions.

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If you're currently accessing VET FEE-HELP and will finish your course by the end of 2017

If you have been financing your study through a VET FEE-HELP loan prior to 31st December 2016, you may continue to do so until the 31st December 2017, provided you notify the Department of this intention by the 31st March 2017.

If you do not advise the Department by the 31st March 2017, your access to VET FEE-HELP will stop.

To notify the Department you need to complete an online form, available on the Department’s website. All eligible students should have received an email or letter from the Government, with instructions for how to opt-in for VET FEE-HELP via this online form.

Learn more about the VET FEE-HELP opt-in process, or find out your next steps If you haven’t received these instructions yet.

If you're currently accessing VET FEE-HELP and will finish your course in 2018 onwards

If you have been financing your study through a VET FEE-HELP loan prior to 31st December 2016, you may continue to do so until the 31st December 2017, provided you notify the Department of this intention by the 31st March 2017.

If you do not advise the Department by the 31st March 2017, your access to VET FEE-HELP will stop.

To notify the Department you need to complete an online form, available on the Department’s website. All eligible students should have received an email or letter from the Government, with instructions for how to opt-in for VET FEE-HELP via this online form.

Learn more about the VET FEE-HELP opt-in process, or find out your next steps If you haven’t yet received these instructions yet.

If your study continues into 2018, you may be able to access the new VET Student Loans scheme, depending on your course and provider. 

To find out more about which courses and providers are approved for the VET Student Loans scheme, visit the Australian Government’s VET Student Loans page.

Please note, in certain circumstances some students may be eligible to extend their VET FEE-HELP assistance beyond 31 December 2017. Students will need to apply to continue using VET FEE-HELP for their existing course beyond 2017 and these applications will be considered on a case-by-case basis. Details on these arrangements will be published on the Australian Government’s VET Student Loans page later in 2017. 

Got questions?

To find out more about how these changes may apply to you and your situation, please contact your education provider, or alternatively visit the Australian Government’s VET Student Loans page.