VET Student Loans
With the student loan scheme provided by the Australian Government
What are VET Student Loans?
VET Student Loans is a loans program provided by the Australian Government to assists eligible students to pay part of their tuition fees. The government directly pays AIT the amount of the loan, and you pay it back through the Australian taxation system once your annual income reaches the minimum repayment threshold. The repayment threshold for 2018-2019 income year is $51,957.
VET Student Loans are especially beneficial for students who could not otherwise afford to pay upfront. There is no interest charged on a VET Student Loan; however, the loan is indexed each year on 1 June.
VET Student Loans replace the previous VET FEE-HELP scheme. Learn more about VET Student Loans at: www.studyassist.gov.au
Who is eligible for VET Student Loans?
You may be eligible for VET Student Loans if you are an Australian citizen, a permanent humanitarian visa holder who usually resides in Australia, or a qualifying New Zealand citizen.
To be eligible you must be enrolled in an eligible unit of study by the census date for that unit and have not exceeded your FEE-HELP limit. You must also have been deemed as academically suitable to undertake our course. This includes ability to read and write English and display numeracy skills equal to or above a Year 12 skill level. To show evidence of this ability, you will need to have satisfied the following:
- Completed Australian Year 12 schooling (please provide a certified copy of your Senior Secondary Certificate of Education), or
- Completed a Nationally Recognised Diploma or Higher qualification within the last 5 years (please provide a certified copy of your testamur and transcript).
You can find more detailed information about our entry requirements in the FAQ.
The availability of VET Student Loans is strictly limited. To find out if spots are available, contact The Left Bank.
Are VET Student Loans available for THE LEFT BANK courses?
VET Student Loans are available for our Diploma of Business BSB50215 course which is a nationally recognised and VET-approved qualification. Eligible students are entitled to loans up to the capped amount of $5,000 which does not cover the entire cost of the diploma. The total course cost of the diploma is $8,850. This means that students using VET Student Loans need to pay the difference of $3,850. We have an installment payment option to make this affordable for students. For part time students using a VET Student Loans, the monthly repayments are $192.50 per month for 20 months. For full time students the monthly repayments are $385 per month for 10 months. Contact us if you wish to discuss this with a course advisor.
The VET Student Loans are unfortunately not available for our Digital Marketing short online courses.