VET student loans
VET Student Loans and Financial Assistance
Financing your studies does not need to be a hurdle. Inbound Aviation supports you in paying tuition fees through several initiatives, including VET Student Loans, Handypay and flexible payment options.
VET Student Loans is a financial assistance scheme offered by the Australian Government. Eligible students can secure an interest-free loan to pay all or part of their tuition fees for approved courses. Inbound Aviation is an approved VET Student Loans provider.
- VET student loan is a loan that gives rise to a VET debt that continuous to be a debt due to the Commonwealth until it is repaid.
- VET student loans will not be approved for students who do not meet eligibility requirements.
With VET Student Loans, you do not have to repay your loan until your income reaches the minimum threshold set for compulsory repayment. The income threshold for 2024-2025 is $54,435.
A VET Student Loan is a personal debt obligation that can affect your credit rating and have wage and tax repayment implications.
(https://www.studyassist.gov.au/paying-back-your-loan).
You can choose to make voluntary repayments at any time. A VET Student Loans administration fee of 20% applies to loans provided through the scheme. VET Student Loans will not be approved for students who do not meet eligibility requirements and that a VET Student Loan gives rise to a VETSL debt that continues to be a debt due to the Commonwealth until it is repaid. Applicants under 18 years of age will require written parental consent.
Eligible students must be:
- An Australian citizen
- A New Zealand Special Category Visa (SCV) holder who meets the long-term residency requirements.
- A permanent humanitarian visa holder.
Learn more about how VET Student Loans can assist you. Read the VSL Information booklet at: https://www.dewr.gov.au/vet-student-loans/resources/vet-student-loans-information-booklet
Please refer to the Australian Government Department of Education, Workplace Relations VET Information Booklet which provides information for students applying for VET student loans.
- A copy of the VET Information Booklet can be downloaded here :VET Student Loans – Department of Employment and Workplace Relations, Australian Government
- Read more about Tuition Protection on the Department of Education, Workplace Relations website.
Please refer to Inbound Aviation Student Handbook for all VSL processes conducted at Inbound Aviation. For course start dates and census days please refer to Inbound Aviation Schedule of Fees .
At Inbound Aviation we are proud of the funding assistance we provide our students. We encourage you to learn more about what support is available to you.
Important Note: VET Student Loans are an Australian Government program, and the government may make changes. While this information was accurate in July 2024, students are responsible for gathering all the relevant information to fully understand if they are eligible, as well as the debt, commitments and responsibilities that come with applying for and paying off a VET Student Loan.
Inbound Aviation courses approved for VET Student Loans:
This Diploma of Aviation
- teaches you all the building blocks of flying
- includes aviation theory and practical flying
- gives you a Commercial Pilot Licence (Aeroplane) upon successful completion
Additional Information
- MySkills website – national directory of vocational education and training (VET) organisations and courses provided by Australian Government, National Careers Institute.
- VSL Eligibility Tool (VSL eligibility check | Your Career )– for prospective students to check your eligibility for a VET Student Loan and should be used as a guide only
- StudyAssist website (Study Assist, Australian Government) – information for students about government for financing tertiary study provided by Australia Government.
- Australian Taxation Office website – public information on study and training support loans provided by Australian Government, Australian Taxation Office.
- Centrelink website – payments and services provided by Australian Government, Services Australia including:
- ABSTUDY – a group of payments for Aboriginal or Torres Strait Islander students or apprentices.
- Austudy – financial help if you’re 25 or older and studying or an Australian Apprentice.
- Pensioner Education Supplement – a regular extra payment to help with study costs if you get certain income support from Centrelink.
- Relocation Scholarship – A once a year payment if you get ABSTUDY or Youth Allowance. You must also need to move to or from a regional or remote area for higher education study.
- Rent Assistance – A regular extra payment if you pay rent and get certain payments from Centrelink.
- Student Start-up Loan – A voluntary loan you can get up to twice a year if you’re an eligible higher education student.
- Tertiary Access Payment – A payment to help students with the cost of moving from regional or remote areas for tertiary study.
- Youth Allowance – financial help if you’re 24 or younger and a student or Australian Apprentice.
- Indigenous Student Success Program website – Australian Government, National Indigenous Australians Agency provides supplementary funding to universities to help students take on the demands of university and succeed.
Frequently
asked questions
What is a VET Student Loan?
VET stands for Vocational Education and Training. The Australian Government has a VET Student Loan program to help eligible students pay for approved VET courses (at a diploma level or higher) so they can achieve their career goals.
Are any Inbound Aviation courses approved VET courses?
Yes, any Diploma of Aviation you study at Inbound Aviation is an approved VET course, because we are an approved VET provider.
Can I get a VET Student Loan?
Only if you meet the criteria and are eligible for a VET Student Loan. So, check your eligibility.
How does a VET Student Loan work?
If you apply for a VET Student Loan, (which you should only do after checking if you’re eligible to apply), and if it is approved, this becomes a personal loan that you owe the Australian Government.
The loan is managed by the Australian Tax Office (ATO) so communications about payments will come from the ATO.
It’s important to let the Inbound Aviation team know if you’re going to apply for a VET Student Loan when you register to do a Diploma of Aviation at Inbound Aviation.
Will the VET Student Loan cover the cost of my course?
VET Student Loans have a cap limit for courses, so may not cover everything you’ll need to pay. The difference between the price of the course and a VET Student Loan will still need to be paid for, and the Inbound Aviation team can discuss payment and finance options with you, like Handypay.
What do I need to know about VET Student Loans?
It’s important to read this booklet so you know how much the loan fee is, and the details of how it works. That way, you won’t miss anything and can stay on top of everything.
How do I apply for a VET Student Loan?
To discuss course prices, payment dates, finance structures, including potential VET Student Loan amounts and the process for applying, contact us.
Want to know more about the government steps for applying? Here’s what you need to know.