Health Industry Training is excited to be approved as a VET FEE-HELP provider. This means students can study all our Diploma level qualifications now and pay later through the Commonwealth Government’s VET FEE-HELP scheme.
VET FEE-HELP is a student loan scheme for the Vocational Education and Training (VET) sector that is part of the Higher Education Loan Program (HELP). VET FEE-HELP assists eligible students undertaking certain VET courses of study with an approved VET provider, to pay for all or part of their tuition fees. A VET provider is a Registered Training Organisation (RTO) who has been approved by the Australian Government to offer VET FEE-HELP assistance to their students.
Health Industry Training is now a registered VET FEE-HELP provider for all Diploma level qualifications on our scope of registration.
For eligible students, VET FEE-HELP provides you with the option of:
- deferring all of your tuition fees; or
- paying some of your tuition fees upfront and deferring the balance
There is a loan fee of 20% for all VET FEE-HELP loans.
You will not incur the loan fee if you are a student who is subsidised by the Western Australian, Victorian or South Australian State Government. Students residing in all other states and territories will incur a 20% loan fee.
To be eligible for VET FEE-HELP you must:
- be an Australian citizen or a permanent humanitarian visa holder who will be a resident in Australia for the duration of study;
- be undertaking study as a full fee paying student;
- provide a tax file number;
- have completed, signed and submitted A VALID ‘Request for VET FEE-HELP Assistance’ form through your VET provider on or before the census date; and
- not exceed your FEE-HELP loan limit
- provide a copy of Year 12 certificate or complete a LLN test
Eligible students can borrow up to the FEE-HELP limit to pay their tuition fees. The FEE-HELP limit is the total amount available to eligible students under both the VET FEE-HELP and FEE-HELP loan schemes.
For 2016, the FEE-HELP limit is $124,238 for students undertaking medicine, dentistry and veterinary science courses (as defined in the Higher Education Support Act 2003), and $99,389 for all other students.
Note that the higher FEE-HELP limit only applies to courses that lead to initial registration to practise in those fields. The lower limit will apply to any further study you undertake once you have gained the requisite level for initial registration.
The FEE-HELP limit is a lifetime limit and is not reset or ‘topped up’ by any repayments that you make. The FEE-HELP limit is the total amount available to eligible students under both the FEE-HELP and VET FEE-HELP loan schemes. This means that any amount you borrow under either FEE-HELP or VET FEE-HELP will reduce your FEE-HELP balance until you have reached the FEE-HELP limit.
VET FEE-HELP debts become part of your accumulated HELP debt. You have to start repaying your HELP debt through the taxation system once your repayment income is above the compulsory repayment threshold, even if you are still studying. The compulsory repayment threshold is adjusted each year. For the 2015-16 income year, the compulsory repayment threshold is $54,126.
Repayment income is calculated from the amounts given on your income tax return for:
- your taxable income;
- reportable fringe benefits (reported on your payment summary);
- total net investment loss (which includes net rental loss);
- reportable super contributions; and
- exempt foreign employment income amounts
Your compulsory repayment is worked out by applying different percentage rates for different income ranges. Your compulsory repayment increases as your repayment income increases. Compulsory repayments continue until you have repaid your debt. The percentage rates for 2015-2016 are outlined in the table below:
VET FEE-HELP courses available through Health Industry Training
VET FEE-HELP is available for Diploma level qualifications offered by Health Industry Training on a fee-for-service basis.
To apply for a VET FEE-HELP loan, you will need a tax file number (TFN) and a Request for VET FEE-HELP assistance form (this is only available from your provider). Before you sign and submit your form you must read the VET FEE-HELP information for 2016 booklet.
View the VET FEE-HELP Information Booklet.
The form will ask you to provide your tax file number. If you do not have a TFN, you can give your provider a Certificate of application for a TFN. This certificate is available from the Australian Taxation Office (ATO) after you have applied for a TFN. Contact the ATO on 13 28 61 for TFN information.
You must submit the signed and completed form to your provider before the census date or administrative date. If you do not submit your form on or before the census date, you will not be eligible for a FEE-HELP loan.
Note: You have six weeks from the census date of a unit to correct any errors on your form that would prevent you from being eligible for VET FEE-HELP.
The census date is the last day you can submit your Request for Commonwealth assistance form (to access a Commonwealth supported place or a HELP loan) or withdraw your enrolment without incurring the fees or a HELP debt. If you do not submit your form by the census date, you will not be eligible to access a HELP loan for that study period.
The census dates are outlined in the ‘Schedule of Fees for 2016’, for the various units you are enrolling in. If you cannot find the right dates, please call Health Industry Training.
If you are considering applying for VET FEE-HELP, you should familiarise yourself with your rights and responsibilities by reading the VET FEE-HELP Information Booklet and Health Industry Training’s Students Policies and Procedures.
- VET FEE-Help Booklet 2016
- Health Industry Training Student Policies and Procedures
Depending on when you withdraw, you may be entitled to a refund of any up-front payment you have made, or re-credit of your FEE-HELP balance if you have taken VET FEE-HELP loan.
If Health Industry Training ceases to provide a course in which you are enrolled, Health Industry Training will ensure that you are offered enrolment in a similar course of study. Otherwise, Health Industry Training will:
- Refund any upfront payment for any of unit of study that you have commenced but not completed because Health Industry Training ceased to offer that course
- Re-credit your FEE-HELP balance for the relevant unit of study
For more information on VET FEE-HELP including eligibility, applying and loan limits and to download helpful publications please visit the Australian Government’s Study Assist website www.studyassist.gov.au
Alternatively, contact Health Industry Training on 1300 381 415 or email: firstname.lastname@example.org