VET FEE-HELP: what does it mean?
CourseFinder Team
July 1, 2016
Learn all about VET FEE-HELP, and find out if you’re eligible, with our handy fact sheet!
Am I eligible?
You must:
- Be enrolled in an eligible unit of study, offered by an approved VET FEE-HELP provider, by the census date; AND
- Be an Australian citizen or a permanent humanitarian visa holder, residing in Australia for the duration of your unit; AND
Meet the following course requirements:
- Be a full fee paying/fee for service student studying a diploma, advanced diploma, graduate certificate or graduate diploma course; OR
- Be a student subsidised by a state or territory government (excluding ACT), studying a diploma or advanced diploma course; OR
- Be a student subsidised by the Victorian, South Australian, Queensland, Western Australian or New South Wales Government, studying a certificate IV course specified and nominated by the state as part of the Certificate IV Trial.
When do I starting paying back my loan?
You’ll start repaying your HELP debt once your taxable income reaches the compulsory repayment threshold. This threshold is adjusted every year. The threshold for 2016-17 is $54,869.
How much can I borrow?
In 2016 you can borrow up to $99,389 under the FEE-HELP scheme. For students studying medicine, dentistry and veterinary science courses, the FEE-HELP limit is $124,238.
| 2016-2017 repayment rates | |
|---|---|
| 2016-2017 Repayment rates | Repayment % rate |
| Below $54,869 | NIL |
| $54,869 – $61,119 | 4.0% |
| $61,120- $67,368 | 4.5% |
| $67,369 – $70,909 | 5.0% |
| $70,910 – $76,222 | 5.5% |
| $76,223 – $82,550 | 6.0% |
| $82,551 – $86,894 | 6.5% |
| $86,895 – $95,626 | 7.0% |
| $95,627 – $101,899 | 7.5% |
| $101,900 and above | 8.0% |
To get started with your VET FEE-HELP application, or for more information, you can head to the StudyAssist website.
Browse through our range of online courses that are covered by the HELP loan schemes.
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