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VET Student Loans (VSL)

As a student with us, you may be eligible for a Commonwealth Government loan to assist with paying your studies.

VET Student Loans are available to eligible students enrolled in specific diploma, advanced diploma, graduate certificate or graduate diploma courses. FEE-HELP loans assist eligible fee-for-service students enrolled in higher education diploma or associate degree courses.

  • Student loans are income contingent loan schemes
  • VET Student Loans are for the Vocational Education and Training (VET) sector
  • FEE-HELP is a scheme in the Higher Education Loan Program (HELP).

The Australian Government pays the amount of the loan direct to SM TAFE, and you repay your loan through the Australian taxation system once you earn a wage equal to or higher than the repayment threshold.

There is no application or loan fee for VET Student Loan government subsidised courses, however there is a loan fee of 20% for fee-for-service or commercial VET Student Loan debts. The accumulated debt is indexed according to the Consumer Price Index (CPI). Indexation of your VET Student Loan debt occurs annually in accordance with the Higher Education Support Act 2003.

Before you begin, you need to read and understand the VET Student Loans booklet which can be found on the Department of Employment, Skills and Small Family Business website.