VET Student Loans
Applicants Guide to VSL
What Is The VSL Scheme?
VET Student Loans (VSL) is a Government student loan scheme for the VET (Vocational Education and Training) sector. It is part of the Commonwealth Government’s Higher Education Loan Program (HELP) to help students pay their fees when studying, with eligible organisations, at Diploma level or above.
PLEASE NOTE: This is a loan that you will have until it paid back. Students are encouraged to read the VET Student Loans information booklet for the latest information or visit the Study Assist website.
You will be eligible to apply via The National Theatre Melbourne for a VET Student Loan if you meet the eligibility criteria and the student entry procedure.
Citizenship or Residency
YOU MUST MEET ONE OF THE FOLLOWING:
• Are an Australian citizen; or
• Are a New Zealand Special Category Visa holder who meets long
term residency requirements; or
• Are a permanent humanitarian visa holder (usually resident in Australia).
All students must pass an audition to gain a place on our courses and once
you are enrolled on an approved course (Diploma or Advanced Diploma) you also need to meet the academic suitability requirements for the VSL scheme.
YOU MUST BE ABLE TO PROVIDE ONE OF THE FOLLOWING:
• A copy of your Australian Year 12 Certificate (Senior Secondary
Certificate of Education); OR
• Display competence at or above Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy through an approved LLN assessment tool and the National Theatre Melbourne reasonably believe that the student displays competence; OR
• Provide a copy of a successfully completed Australian Qualifications
Framework (AQF) Certificate IV or higher qualification that was
delivered in English.
The VET Student Loans Process: What you need to know
When applying for a VET Student Loan, The National Theatre will need to verify your date of birth, identity and your eligibility for a loan. See the VET Student Loan Information Booklet for full details.
Once accepted and enrolled on a course (see individual courses for specific processes), inform the administration department of your school to indicate that you wish to access a VET Student Loan.
You will receive an email from the Australian Government allowing you to sign in to the eCAF System. You will be required to sign-in, verify your information and complete the mandatory fields prior to submission of your application for access to VET Student Loans.
There is a mandatory ‘cooling off period’ of two (2) business days between enrollment for a unit of study and processing of a VET Student Loan application.
Once your application has been submitted through eCAF you will receive a VET Student Loan Statement of Covered Fees, prior to the first census date. This will outline the tuition fees for your enrollment, the amount covered by VET Student Loans and the amount to be paid by you.
Prior to each Census date you will receive a VET Student Loan Fee Notice detailing the units you are enrolled in and the Government loan fee amount that applies to you.
You will also receive a Commonwealth Assistance Notice within 28 dates from the Census date for the qualification or units where you have accessed a VET Student Loan.
During your course of study, you will need to communicate your agreement to the Australian Government in order to continue accessing ongoing payments through the VET Loan scheme.
A Government loan fee
This loan fee amount is 20% and will be added to the HELP debt amount for the qualification. All the latest details are contained in the VET Student Loans Information Booklet and we recommend it as mandatory reading prior to applying for a VET Student Loan.
VET Student Loan Caps and Limits
You can borrow up to the VET Student Loan cap to pay your tuition fees. The cap varies depending on the course you are enrolled in. The maximum amount for 2021 is $16,077 for all eligible students at The National Theatre Ballet and Drama Schools.
The VET Student Loan Limit is a lifetime limit linked to all Government funded loans in the HELP system and is not reset or ‘topped up’ by any repayments that you make. More details on lifetime limits can be found through Study Assist.
Students may wish to seek financial advice prior to taking out a VET Student Loan.
Withdrawal, Refund and Re-Credit of HELP Loans
Any student who withdraws from a unit of study, must notify the Administrator in writing, prior to the census date to qualify for a refund of any paid fees or VSL payments.
Any student who withdraws from a unit of study after the census date is liable for payment for that unit, and VET funding will be claimed as per the VET Fee Notice for that unit. No payments will be due for future units that have not met the census date.
Please refer to our refund policy for more information on refunds and re-credits.
VSL Student Loans policies and procedures
VET Student Loans policies and procedures: https://www.education.gov.au/vet-student-loans
Policies for accredited courses
The policies for our accreditated courses can be viewed here.