A VET Student Loan (VSL) helps students to cover tuition fees for vocational education and training (VET) courses.
VSLs are only available for approved courses at the diploma level and above. This means that you can't get a VSL for a Certificate IV level course or below.
You can see which courses and registered training organisations (RTOs) are approved for VET Student Loans when searching on MySkills by looking for the 'VSL' in bold print.
There is a limit to how much you can borrow, called the 'loan cap'. The loan cap amount is different depending on the course you study.
Some providers may offer courses that cost more than the loan cap. In these cases, students must pay the difference between the course cost and the loan cap. For example:
Alexa enrols in a Diploma of Business.
The total course cost is $6,000.
The loan cap for a Diploma of Business in 2019 is $5,171.
Alexa must pay the difference of $829 directly to her course provider.
Go to www.education.gov.au/vet-student-loans to find out:
- who can get a VET Student Loan,
- the VSL loan cap amounts (these are updated at the beginning of each year), and
- how to apply for a VET Student Loan.
Check out the VET Student Loans information booklet for the fine print about VET Student Loans.