VET Student Loans

VET Student Loans is a loan from the Commonwealth Government, available to assist eligible students studying either the SIS50319 Diploma of Sport, BSB50215 Diploma of Business, and BSB50120 Diploma of Business with SEDA Group 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 up front / via a payment plan, or you can use a VET Student Loan for the total or partial amount of your tuition fees (eligibility criteria apply). 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) the person’s take-home (after tax) wage or salary until the debt is repaid, and may affect the borrowing capacity of the person until the debt is repaid to the Commonwealth;
• A VET Student Loan gives rise to a VETSL debt that continues to be debt due to the Commonwealth until it is repaid;
• The completed Request for VET Student Loan eCAF (Electronic Commonwealth Assistance Form) applies to a loan for the entire VET course of study, charged on a vet unit of study basis, unless the student pays some of the tuition fees; the eCAF must be submitted on or before the census date
• Census dates will apply to each VET unit/s of study in which the person enrols, with tuition fees due immediately census date;
• A student may cancel their enrolment by:
  • Withdrawing from each VET unit of study on or before the census date; and
  • In accordance with SEDA Group’s withdrawal processes
• Withdrawal will result in the student not incurring a VET Student Loan debt; and / or receiving a refund for any up-front tuition fee payments made on or before the census dates;
• A student may wish to seek independent financial advice prior to applying for a VET Student Loan;
• The student may be required during the course to communicate his or her agreement that the Commonwealth continue to use the VET student loan to pay tuition fees for the course.
• The department will contact the student to verify the student’s enrolment in the course.

In 2022 the HELP loan limit is $109,206 for most students (students studying medicine, dentistry and veterinary science courses have a higher HELP loan limit).  From 2021 your HELP balance is a ‘renewable’ balance, meaning that any repayments you make on your VETSL debt will credit your available HELP balance, up to your applicable HELP loan Limit. For more information, click here.

Please refer to your Course Information Brochure and Statement of Fees for specific tuition fees and census dates; including the student withdrawal policy for this course or refer to the SEDA Group website.

For tuition fee amounts, please refer to the Statement of Fees provided prior to enrolment or the SEDA Group website Schedule of Tuition Fees for individualised tuition fee amounts.

In 2022, the maximum course fees are: SIS50319 Diploma of Sport = $8,208.00, BSB50120 Diploma of Business = $7,283.40. 

The amount of the VET student loan with SEDA Group cannot be more than the student’s remaining HELP balance. Tuition Fees will be reasonably apportioned across a specified number of sequential fee periods and each fee period will contain at least one census day. For any tuition fees above the covered fees, students are required to pay this portion upfront in accordance with the vet unit of study census dates.

A census date is defined as: A date by which enrolment may be cancelled without incurring tuition fees for the course or a part of the course is a census day. The census date is the most important date for you to remember for each unit of study in the eligible qualification. The census date is the last day you can submit your Request for VET Student Loan ECAF form and withdraw your enrolment in the course or part of the course without incurring the cost or VET Student Loan debt. Students will receive a refund of any tuition fees already paid for the course or part of the course if they withdraw on or prior to the census date. To view your census dates, please refer to the Statement of Fees provided prior to enrolment.

A VET unit of study is one or more units of competency. VET units of study make up the course of study for the SIS50319 Diploma of Sport and BSB50120 Diploma of Business. Each VET unit of study will be across a specified number of fee periods and each fee period will contain a census date.

A 20% loan fee applies to VET Student Loans for full fee paying / fee for service students. The loan fee does not count towards your HELP limit. You do not have to pay the loan fee upfront – it is reported by your provider and is added to your HELP debt at the Australian Taxation Office (ATO).

You may be eligible for a VET Student Loan if you:

Are an Australian citizen, or;

• Are a New Zealand Special Category Visa holder who meets long-term residency requirements; or;
• Are a permanent humanitarian visa holder (resident in Australia for the duration of the unit); AND
• Have not exceeded the HELP limit (see below); AND
• Meet course requirements as follows:
  • You’re are enrolled with an approved course provider in an approved course
  • Successfully completed Year 12 in Australia; OR
  • Successful completion of an Australian Qualifications Framework Certificate IV or higher qualification (where the language of
    instruction is English); OR
  • Display competence at Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy through an approved
    Language, Literacy and Numeracy test. SEDA Group can provide this testing.
  • Successfully competed SEDA Groups Course Application Form

    Have a Unique Student Identifier (USI), or otherwise exempt

    Have read the VET Student Loans Information Booklet.

    You meet the Tax File Number (TFN) requirements (If your information is not assessed as correct by the ATO, your application will not be finalised and you will be ineligible for a VET Student Loan.

    You have given the required documents to your approved course provider and submitted the loan application form by the first census date and no less than two business days after enrolling.

    In addition, your approved course provider must reasonably believe you show competence in completing the course.

    Your eligibility will be assessed as part of the Course Application Form. Eligibility evidence and supporting documents must be presented to SEDA Group with your application. A VET Student Loan will not be approved by SEDA Group for any students who do not meet eligibility requirements.

Your VET Student Loan debt becomes part of your accumulated HELP debt. The compulsory repayment threshold is adjusted each year.  The compulsory repayment threshold for the 2020-21 income year is $46,620. The compulsory repayment threshold for the 2022-23 income year is $48,361.00.

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.

Repayments made through the Australian taxation system are called compulsory repayments and continue until you have repaid your whole debt.

• To apply for a VET Student Loan you must complete the Request for a VET Student Loan eCAF by the census day.
• You must first enrol with SEDA Group and indicate you wish to access a VET Student Loan. SEDA Group will then give the department your enrolment information, including the nearest applicable census day, through the electronic Commonwealth Assistance Form (eCAF) system.
• If you haven’t indicated that you wish to enrol into VET Student Loans during the course enrolment period, you must email SEDA Group on training@sedagroup.com.au and communicate you wish to opt in to VET Student Loans.
• You will then receive an email from the department allowing you to sign into the eCAF system. Once you sign-in, you will need to verify the pre-populated information and complete the mandatory fields. You can then submit the eCAF, which will cause the system to email you a copy of your completed form. You should keep this form for your records.
• If you do not complete the eCAF, or other permitted form, by the required date for your course, you will have to wait until the next part of your course / vet unit of study for the VET Student Loan to be applicable. Retrospective access to VET Student Loans is not allowed under any circumstances.

If your Course Application Form is approved by SEDA Group, and you have successfully enrolled into the SIS50319 Diploma of Sport or BSB50215 Diploma of Business, a two-day (business days) cooling off period applies before you can apply for VET Student Loan.

• Students under the age of 18 will require their parent or guardian approval to access VET Student Loans before the student will have access to the Request for VET Student Loan ECAF to apply for VET Student Loans.
• On successful completion of the VET Student Loans enrolment process you will be issued with a welcome letter. SEDA Group will also issue you with your VET Student Loan Fee Notice for the unit/s of study you are enrolled in for that fee period. This will be sent to your nominated personal email or postal address at least 14 days before the census day. The invoice will detail a range of information including:
• SEDA Group’s business name and registration code,
• Your name, contact details and student identification number as issued by the provider,
• The cost of the unit/s you are enrolled in for that part of your course,
• The census day/s on which you will incur the debt,
• Your CHESSN, and
• The loan fee (if applicable)
• SEDA Group will also send you a VET Student Loans Statement of Covered Fees which will provide details of the total course fee and how much will be covered by the loan amount.
• After each census date you will also receive a Commonwealth Assistance Notice (CAN) for each unit of study with a census date within 28 days of the relevant census date. The Commonwealth Assistance Notice is a statement, not an invoice or a request for payment and includes important information about your enrolment. This will confirm your debt you have incurred or student contribution amounts you have paid, and any loan fee you may have incurred.
• Check your CAN carefully to make sure that the tuition fees listed on your CAN are correct. If you notice any errors on your CAN, you have 14 days from the date of the CAN to contact SEDA Group with a request for correction.
• Enrolled students should always notify SEDA Group of any change of contact details.

If you do not have a TFN at the time of requesting a VET Student Loan you must apply for one through the ATO and then supply a Certificate of application for a TFN to us on or before the census date.
You will not be able to obtain a VET Student Loan for the amount of your VET tuition fees for the unit/s of study that remain unpaid by the census date, unless you submit your valid TFN.

Note: TFNs are usually provided by the ATO within 28 days of application, therefore it is essential that you apply for your TFN as early as possible to ensure you have your TFN on or before the census date.
Please be aware that if the tax file number requirements are not met you will NOT be entitled to VET Student loan and will be liable for your tuition fees.

How to apply for a Tax File Number

Australian Taxation Office.
Applicants should refer to the Australian Taxation Office website: 

Australia Post – Australian residents – TFN application:
You can apply for a TFN at a participating Australia Post retail outlet if you’re an Australian resident and able to attend an interview. There is no fee for lodging a TFN application. If you’re an Australian resident the easiest way to apply for a TFN is to complete the online TFN Application form by accessing this link.
Print the summary, which will include your application reference number, and take it to your Australia Post interview. Attend an interview at a participating Australia Post outlet within 30 days of completing your online form. You’ll need to take your printed summary and proof of identity documents to the interview. This link http://bit.ly/1WW3HUY will direct you to the Australia Post website where you can find your closest participating Australia Post store, trading hours and book your TFN application interview.

• Make sure you have originals of your proof of identify documents (see the instructions on the online ATO form for details of the documents you’ll need).
• Make an appointment with Australia Post to apply for your TFN and complete the process.
• Provide a copy of your Tax File Number Application and Receipt to SEDA Group with your VET Student Loans application.
• As soon as you receive your Tax File Number, please contact SEDA Group and finalise your VET Student Loans application.