What is a VET Student Loan?
From 1 January 2017, the Commonwealth VET Student Loans program replaced the VET FEE-HELP loan program. This program provides eligible students with loans to pay for their tuition fees, which are then repaid via the Australian Tax System once the minimum income threshold for payments has been received.
This Commonwealth Government program allows you to access loans for courses that:
Have a high national priority;
Meet industry needs;
Contribute to addressing skills shortages;
Lead to employment outcomes.
Approved courses.
Schofields Flying Club Limited trading as SFC is an approved provider of VET Student Loans (RTO 90866) for the following courses:
AVI50222 Diploma of Aviation (Commercial Pilot Licence - Aeroplane) includes Multi-Crew Cooperation (MCC) & Upset Prevention Recovery Training (UPRT) + AVI50519 Diploma of Aviation (Instrument Rating)
Double Diploma of Aviation
AVI50222 Diploma of Aviation (Commercial Pilot Licence - Aeroplane) + AVI50519 Diploma of Aviation (Instrument Rating)
AVI50419 Diploma of Aviation (Flight Instructor)
How do I apply for a VET Student Loan?
If you would like to apply for a VET Student Loan to settle your course tuition fees, there are a series of steps for you to undertake.
To be eligible for a VET Student Loan, you must:
Be an Australian Citizen; or
A New Zealand Citizen with a Special Category Visa (SCV); or
A Permanent Humanitarian Visa holder who will be residing in Australia for the duration of the course.
Be studying a VET Student Loans eligible course
Meet student entry procedure requirements
Meet Tax File Number requirements
Present Unique Student Identifier (USI) number
Have not exceeded your HELP loan limit
Have not exceeded the VET Student Loans course cap
Submit a request for a VET Student Loan via the Government’s eCAF System (including all required information) on or before the first census date and no less than two (2) business days after enrolling
Confirm engagement and progression to continue to access the loan throughout the course
To find out more information visit the Australian Government’s VET Student Loans Website or StudyAssist.
Not eligible?
If you’re not eligible, or don't apply before your census date, you must pay your fees by the due date or your enrolment will be cancelled.
Read the government VET Student Loans Information Booklet
When you submit a request for a VET Student Loan to the government, you are declaring that you have read and understood the booklet and your obligations before you access the loan.Make sure your citizenship has been verified
To be eligible for a VET Student Loan, you must be able to verify your citizenship.Make sure you have your Unique Student Identifier (USI)
The USI is your life-long individual education number. It’s a government requirement that you have a USI to enrol in a higher education program.
Get or check your USI.Have your Tax File Number or certificate of application ready
You must have a Tax File Number (TFN) or certificate of application for a TFN to apply for a VET Student Loan.
If you don't have a TFN, you can apply for one here.
Under 18?
You need to complete the VET Student Loans Parental Consent Form and submit it to [email protected] at least 5 business days before your census date.
Let us know you intend to apply for a VET Student Loan
You’ll be prompted to indicate if you intend to access a VET Student Loan when you apply for any of our eligible courses.
For detailed information, refer to the Australian Government's VET Student Loan eCAF fact sheet.
Throughout the course, it's important to know and track your loan.
Your Commonwealth Assistance Notice (CAN)
Your Commonwealth Assistance Notice (CAN) outlines the VET Student Loan debt you've incurred and any upfront payments you've made towards your fees.
SFC will issue you with a Commonwealth Assistance Notice (CAN) within 28 days of each class census date via email.
If there are any discrepancies between your VET Student Loan debt and the amount you were expecting to pay, you have 14 days from the CAN issue date to submit a written request for a correction.Your Loan Cap
The Australian Government sets a VET Student Loan Program Loan Cap for your program. This is the maximum amount of tuition you can defer to your VET Student Loan for this program, and includes any study in the same program at a different provider.
Your Program Loan Cap is displayed on your eCAF and on your invoice.
Once you reach your loan cap, you'll need to pay any remaining tuition fees by the due date. Caps are indexed annually. For more information, go to VET Student Loans Course Caps Indexed Amounts.HELP Loan Limit
There's a combined limit to how much you can borrow under HECS-HELP, FEE-HELP, VET-FEE-HELP and VET Student Loans. This is called your HELP loan limit. If you’ve reached your combined HELP loan limit, you’ll need to pay your student contribution (tuition fees) before the census date to ensure your enrolment isn't cancelled.Check your combined HELP loan limit
Go to the myHELP balance portal to find out your current HELP limit and how much of your HELP balance you have left to borrow. For more information about the combined HELP limit, go to Study Assist.
Polices and Procedures.
If you would like to apply for a VET Student Loan to settle your course tuition fees, there are a series of steps for you to undertake.
This procedure outlines the eligibility requirements to obtain a VET Student Loan to cover all or part of your course fees.
This procedure aims to ensure that SFC will perform required actions in relation to VSL provider default or if requested to become a replacement provider for displaced students.
This document describes the SFC procedures for making and resolving complaints or grievances.
Before you provide us with any personal information, it's important you read and understand our Privacy Policy.
Withdrawing
All students who withdraw from a unit of study/part of a course or the whole course need to advise SFC in writing using the VET Student Loans Withdrawal & Deferral Application form.
Withdrawing on or before the Census day
If you withdraw on or before the Census day you:
- Are entitled to a refund if you have paid upfront; OR
- Do not incur a debt if you have taken out a VET Student Loan.
Withdrawing after the Census day
If you withdraw after the Census day has passed you:
- Receive no refund if you have paid upfront; OR
- Are liable for the full debt if you have taken out a VET Student Loan.
Applying to re-credit a HELP Balance
In some special circumstances, you may apply to have your debt reversed by completing the Application to re-credit a HELP balance form within 12 months of the census day of the Unit of Study/Part of a Course.
Students also have the right to apply for a review of a decision not to re-credit a loan balance. See the VET Student Loans Student Review Procedure.
Re-enrolling
If you wish to re-enrol in the program after withdrawing you must inform us in writing of your intention to re-enrol.
This form is for eligible VET Student Loan students who are withdrawing or deferring from their course of Units of Study (UoS).
This form is for students who withdraw after the census day and may be able to apply for re-credit under special circumstances.
If you have been informed that your application to have your HELP balance re-credited is unsuccessful, you have the right to request a review of the decision. If you are requesting a review, you need to follow the Student Review Procedure outlined in this document.
If SFC ceases to provide a course in which you are enrolled, SFC will ensure that you are offered enrolment in a similar course of study. Alternatively, you will be provided a refund of any upfront payments or a re-credit to your loan balance for any units of study (due to SFC ceasing to offer that course or a suitable alternative option).