VET Student Loans
SEDA is an approved provider of VET Student Loans (VSL) and therefore can offer the scheme to eligible students.
About VET Student Loans Program
The VET Student Loans (VSL) program assists eligible students to pay tuition fees for approved higher level (diploma and above) Vocational Education and Training (VET) courses, when studying at VSL approved course providers. The VSL program is designed to provide financial support to students undertaking higher level training in courses that address workplace and industry needs, creating better opportunities for employment.
How it works
How it works
- VET Student Loans (VSL) is a loan from the Commonwealth Government, available to assist eligible students studying the BSB50120 Diploma of Business and/or SIS50321 Diploma of Sport with SEDA to pay their tuition fees. You do not have to use a VET Student Loan to pay your tuition fees. You can choose to pay all your tuition fees as ‘Fee for Service’ via a payment plan, or you can use a VET Student Loan for the total or partial amount of your tuition fees (eligibility criteria applies). VET Student Loans can only be used to pay the tuition fees of an approved course.
- The loan will remain as a personal debt obligation until it is repaid to the Commonwealth.
- The loan may affect (by reducing) your take-home (after tax) wage or salary until the debt is repaid and may affect your borrowing capacity until the debt is repaid to the Commonwealth.
- A VET Student Loan gives rise to a VETSL debt that continues to be a debt due to the Commonwealth until it is repaid.
- The completed Request for VET Student Loan eCAF (Electronic Commonwealth Assistance Form – eCAF) applies to a loan for the entire VET course of study and is charged on a VET unit of competency (UoC), unless the student pays some of the tuition fees, the eCAF must be submitted on or before the census date. You can access an eCAF fact sheet
- Census dates will apply to each VET unit of competency in which the student enrolls, with tuition fees due immediately post census date.
You may cancel your enrolment by:
- Withdrawing from each VET unit of competency on or before the census date; and in accordance with SEDA’s withdrawal processes. Withdrawal will result in not incurring a VET Student Loan debt; and / or receiving a refund for any fee for service tuition fee payments made on or before the census dates.
You may wish to seek independent financial advice prior to applying for a VET Student Loan.
You will be required during the course to communicate your agreement to the Commonwealth that you are continuing to study and use the VET Student Loan to pay tuition fees for your course via an eCAF Progression Form.
Please refer to the course information on the website and your Statement of Covered Fees for specific tuition fees and census dates, including the Withdrawal and Deferral Policy.
Where can I find more infomation?
Before you apply it is important that you read the VET Student Loans Information Booklet which provides key information on eligibility, applying for and managing your loan as well as your rights and obligations. You MUST read this booklet before applying for a VET Student Loan.
VSL Eligibility Check
The Australian Government have developed a tool to check your eligibility for VET Student Loans. Please note that this should be used as a guide only. You can access the tool at VSL Eligibility Check.
VET Student Loans Calculator
The VET Student Loans calculator can help you understand what your initial debt amount will be and show how it may increase after five or ten years if unpaid. You can calculate your loan based on the tuition fee here.
For more information, visit VET Student Loans.
