What is VET Student Loans?

VET Student Loans – or VSL for short – is a loan scheme provided by the Australian Government and designed to help eligible students to pay for their tuition fees. If you are an eligible student, the guaranteed government loan will help you achieve your educational and career goals.

Only selected quality providers are VSL approved and Laneway Education is proud to be able to offer access to VSL from 15 May 2021 onwards. We acknowledge that tuition fees are a barrier for course entry, the ability to take out a VET Student Loan will ease the financial pressure and will enable you to focus on your studies.

Please visit the VET Student Loans webpage for more information: Information for VET Student Loans Students.

What you need to know …

VET Student Loans access will be available for eligible students from 15 May 2021. If you are an eligible student, you will be able to take a loan up to the approved loan cap for your selected course.

VET Student Loans is only available for a number of our courses. These courses are;

– BSB50215 Diploma of Business

– BSB51918 Diploma of Leadership and Management

– BSB52415 Diploma of Marketing and Communication

These courses are currently funded in Band 2. Please follow the link below to access VET Student Loans Course Caps Indexed Amounts to look up applicaple funding band amounts.

The VET Student Loans Information Booklet provides a summary of the key points a person applying for or receiving a VET Student Loan needs to know. You must read this booklet before applying for a VET Student Loan.

Other useful information is available on the webpage of the Department of Education, Skills and Employment and we encourage you to visit the following links.

Approved Courses

The following courses are approved for VSL from 15 May 2021 and can be completed at our Sydney or Melbourne campus through face to face delivery.

– BSB50215 Diploma of Business

– BSB51918 Diploma of Leadership and Management

– BSB52415 Diploma of Marketing and Communication

Please keep in mind that taking out a VET Student Loan is creating a debt that must be repaid to the Commonwealth Government via the Australian Taxation Office (ATO). You repay the loan debt through the Australian tax system when you reach the minimum income threshold for repayment. The minimum income threshold for repayment is set by the Commonwealth Government ATO each year and is published on Study Assist in the VET Student Loans information booklet.

Laneway Education Pty Ltd, has campuses in Melbourne and Sydney. Our ABN is  91 607 441 412 and our RTO code as a Registered Training Provider is 41504.

Who is eligible?

To be eligible, you must either:

  • be an Australian citizen, or
  • hold an eligible permanent humanitarian visa and usually reside in Australia, or
  • be a New Zealand citizen on Special Category Visa (SCV subclass 444) who meets the long term residency requirements.*

*Note: Holders of other permanent visas and temporary visas are not eligible for a VET Student Loan.

You must also:

  • have a tax file number or be applying for one
  • have a Unique Student Identifier (USI)
  • intend to undertake your course primarily in Australia
  • meet the academic suitability requirements of the chosen course (that is, assessed as academically suitable to undertake a high level vocational qualification)
  • have a Commonwealth Higher Education Support Number (CHESSN)
  • not have exceeded your lifetime Commonwealth Government student loan limit, which is set each year by the Commonwealth Government
  • have read the VET Student Loans information booklet
  • have given any requested documentation to Laneway Education and submitted the Commonwealth loan application online form (eCAF) prior to the first census day
  • comply with ongoing Commonwealth Government email requests to log on to complete their online student engagement form to confirm that you are a genuine student, continuing to study and progress in your course. You will get these requests two or three times a year, depending on how long your course is. If you do not complete the form and survey within the required time, you may be ineligible to continue accessing VET Student Loans to pay for the remainder of your course tuition fees.

Please visit the MySkills webpage and check out the VSL Eligibility Tool

Academic Suitability

To be able to apply for a VET Student Loan, you must meet one of the following academic suitability requirements;

  • Provide a copy of a Senior Secondary Certificate of Education for your completion of year 12 (Australian Year 12 Certificate); OR
  • Provide a copy of a diploma that has been awarded for the completion of the International Baccalaureate Diploma Program; OR
  • Provide a copy of a successfully completed Certificate level 4 or above in the Australian Qualifications Framework and delivered in English; OR
  • Undertake an approved literacy and numeracy assessment and be competent at Exit Level 3 or above in reading and numeracy. Laneway Education will assist you through the process to undertake this assessment if required. There is no cost to you.

Laneway Education may require a student to undertake a LLN test in addition to providing the required information above. This is to ensure that Laneway Education is satisfied that you are academically suited to undertake your Diploma course.

Laneway Education’s nominated LLN testing tool is the Basic Key Skills Builder (BKSB).

Is there a loan fees?

All VET Student Loan amounts incurred on census days from 1 April 2020 to 30 June 2021 will not incur the usual 20% loan fee. This follows the Australian Government announcement of the loan fee exemption in the Higher Education Relief Package on 12 April and further extension announcement on 30 September 2020. You will not need to do anything for the exemption to be applied. Student VET Student Loan debt records with the ATO will automatically reflect the loan fee exemption.

A 20% loan fee applies to VET Student Loans.  The loan fee does not count towards your HELP loan limit. You do not have to pay the loan fee upfront – it is added to your VET Student Loan debt at the Australian Tax Office (ATO).

For example, if you are undertaking a course that costs $5,000, and you intend to access a loan for the full cost of the course, the loan fee will be $1,000 (i.e. 20% of $5,000). So your VET Student Loan debt for that course will be the loan amount accessed ($5,000) + the loan fee ($1,000) = $6,000. You will incur the loan fee as you progress through your course on a per-unit basis – it is added to the loan amount you access for each unit.

You do not incur the loan fee if you are a student who is subsidised by a state or territory government and you are studying a diploma or advanced diploma course. If you are not sure if you are a subsidised VET student, contact us directly.

Please visit the MySkills webpage and check out the VET Student Loans Calculator

VET Student Loans Schedule

On-campus academic calendar

Laneway Education’s on-campus calendar is based on 4 academic terms each year. Each term is 10 weeks long and students are enrolled and study selected units(s) of study each term. Depending on your enrolment as a full time or part time student and your progress through the course, you may enrol and study one or multiple unit(s) of study each term.

The Census Date is the last date you can withdraw from your course or unit(s) of study without incurring a debt for the unit(s) of study you are enrolled in. The Census Date is no later then 20% into a term and usually falls at the beginning of week 3.

 

The total fee for the BSB50215 Diploma of Business delivered on-campus is $10,917. This includes $10,717 of tuition fees and a $200 enrolment fee.

Delivery Mode: Face to Face, classroom based

UoS = Unit of Study

EFTSL = Equivalent Full Time Study Load

UoS Fee = Proportion of the full tuition fee that is covered through a VET Student Loan

1 year of full time study load over 4 fee periods = 4 academic terms

Study Period UoS Code UoS Name Study Period Start Date Study Period End Date Census Date EFTSL UoS Fee
Term 3 T3_BSB50215 Term 3_2021_DIPBUS 28.06.2021 05.09.2021 12.07.2021 0.25 $2,679.25
Term 4 T4_BSB50215 Term 4_2021_DIPBUS 20.09.2021 28.11.2021 05.10.2021 0.25 $2,679.25

 

The total fee for the BSB51918 Diploma of Leadership and Management delivered on-campus is $10,917. This includes $10,717 of tuition fees and a $200 enrolment fee.

Delivery Mode: Face to Face, classroom based

UoS = Unit of Study

EFTSL = Equivalent Full Time Study Load

UoS Fee = Proportion of the full tuition fee that is covered through a VET Student Loan

1 year of full time study load over 4 fee periods = 4 academic terms

Study Period UoS Code UoS Name Study Period Start Date Study Period End Date Census Date EFTSL UoS Fee
Term 3 T3_BSB51918 Term 3_2021_DIPLDR 28.06.2021 05.09.2021 12.07.2021 0.25 $2,679.25
Term 4 T4_BSB51918 Term 4_2021_DIPLDR 20.09.2021 28.11.2021 05.10.2021 0.25 $2,679.25

 

The total fee for the BSB52415 Diploma of Marketing and Communication delivered on-campus is $10,917. This includes $10,717 of tuition fees and a $200 enrolment fee.

Delivery Mode: Face to Face, classroom based

UoS = Unit of Study

EFTSL = Equivalent Full Time Study Load

UoS Fee = Proportion of the full tuition fee that is covered through a VET Student Loan

1 year of full time study load over 4 fee periods = 4 academic terms

Study Period UoS Code UoS Name Study Period Start Date Study Period End Date Census Date EFTSL UoS Fee
Term 3 T3_BSB52415 Term 3_2021_DIPMKT 28.06.2021 05.09.2021 12.07.2021 0.25 $2,679.25
Term 4 T4_BSB52415 Term 4_2021_DIPMKT 20.09.2021 28.11.2021 05.10.2021 0.25 $2,679.25

 

Key Additional Information

CENSUS DAYS

Fees for qualifications eligible for VET Student Loans are charged by Units of Study. Payments will be spread across the duration of the qualification. For every Unit of Study in the qualification, there is a Census Date as outlined in the VET Student Loans Schedule.

VET Student Loans will be debited for any tuition fees that remain unpaid after choosing to continue after each census date. If students choose to withdraw from a Unit of Study prior to the Census date, there will be no tuition fee for this unit added to their loan.

STUDENT ENGAGEMENT

As part of stronger compliance measures, students will use the eCAF to demonstrate they are engaged with their training. Students will be required to indicate continuing engagement only after at least three months have elapsed since their eCAF application was submitted, or they last indicated engagement. The absence of student engagement will be monitored through compliance procedures and may prompt an investigation of student lack of engagement which may trigger the remission of debts.

WITHDRAWALS AND REFUNDS

If you choose to withdraw, you may be entitled to a refund of any up-front payment you’ve made, or re-credit of your loan balance if you have taken a VET Student Loan. You must withdraw in writing by completing the withdrawal request form available here.

The loan amount you incur will depend on the timing of your withdrawal. There are no penalties if you withdraw on or before the census day. However, once a census day has passed, the loan amount for the Unit of Study is incurred.

In some special circumstances, you may apply to have your debt reversed. You must apply by completing the re-credit of FEE-HELP balance form available here.

Students also have the right to apply for a review of a decision not to re-credit a loan balance. See the 

STATEMENT OF TUITION ASSURANCE

If Laneway Education ceases to provide a course in which you are enrolled, Laneway Education will ensure that you are offered enrolment in a similar course of study.

Alternatively, Laneway Education will:

  • Refund any upfront payment or recredit your loan balance for any unit of study due to Laneway Education ceasing to offer that course, and
  • Act in accordance with its Statement of Tuition Assurance.

You can access our full Statement of Tuition Assurance here.

Please note, the Australian Government is expanding the successful Tuition Protection Service (TPS) for international students to include similar tuition protections for domestic students accessing a VET Student Loan (VSL) at a private education provider. The VSL tuition protection arrangements will commence on 1 January 2020. Further information, please refer to Tuition Protection Service website

COMPLAINTS

A new VET Student Loans Ombudsman has been established, and from 1 July 2017 complaints about VET FEE-HELP debts and VET Student Loan debts will be handled by the new VET Student Loans Ombudsman. The VET Student Loans Ombudsman is part of the broader Commonwealth Ombudsman’s office. The Ombudsman is separate from the Department and has its own legal powers to investigate and deal with complaints. More information about the Commonwealth Ombudsman is available at www.ombudsman.gov.au/VSLO.

Please note, the Ombudsman will normally not commence an investigation of a complaint unless the student has first tried to resolve their complaint with their qualification provider. If the student has not done so, the Ombudsman will advise the student to raise their complaint with their provider in the first instance.

Important Policies and Procedures

You can access our current policies and procedures here. If you would like assistance in understanding any of our policies or procedures, please contact us directly.