Eligible students can repay their tuition loan fees for approved diplomas or advanced diplomas using the VET Student Loan program.
You can either:
- Repay all your tuition loan fees (up to the loan cap limit) when your income reaches the repayment threshold
- Pay some of your tuition loan fees upfront and repay the balance when your income reaches the repayment threshold.
You repay your loan through the Australian tax system when you reach the minimum income threshold for repayment. The minimum income threshold for repayment is set by the Government each year and is published on Study Assist in the VET Student Loans information booklet. There is a loan fee of 20% for full fee-paying students. There is no loan fee for eligible students in some NSW Government subsidised (Smart and Skilled) training places.
Please be aware that your loan remains a personal debt until it is repaid, and it may reduce your take-home (after tax) pay and your borrowing capacity. You might wish to seek independent financial advice before applying.
For more information about the fees for Government subsidised training places, please visit Smart and Skilled – Prices, fees and subsidies. Centrelink benefits do not affect your eligibility or the loan amount you can access. Fee concessions are not available for Diploma and above courses. However, fee exemptions may be available for eligible students in a Smart and Skilled place. Please contact the college for further information.