Is VET Student Loan different than VETSL debt?
No, VET student loan is now called VET Student Loan debt which is abbreviated as VETSL debt.
How do I apply for the VET Student Loan debt (VETSL debt)?
To apply for a VET Student Loan debt you must complete the Request for a VET Student Loan electronic Commonwealth Assistance Form (eCAF) before the first census date. Mater Education strongly recommends that you read the VET Student Loans Information Booklet on the Department of Employment, Skills, Small and Family Business BEFORE submitting the ’Request for Vet Student Loan eCAF’.
Can I print the eCAF and submit it?
You cannot print the eCAF, it must be submitted electronically.
When I submit eCAF do I get the confirmation that my VET Student Loan has been approved?
Once you submit your eCAF, you will receive an email confirming your loan approval and providing you with a copy of your completed form. You should keep this form for your records.
I am eligible for state funding. Do I still need to apply for VET Student Loan?
State funding and VET Student Loans are entirely different. You still have to apply for VET Student Loan debt (VETSL debt) even if you are subsidised.
How do I check if I am eligible for the VET Student Loan debt?
To be eligible to for VETSL debt you must;
meet the citizenship and residency requirements:
be an Australian citizen or
a qualifying New Zealand citizen (Special Category Visa Holder) or
a permanent humanitarian visa holder, who is usually resident in Australia.
If you are unsure, please check with our Student Services team.
For more details refer to VET Student Loans Information booklet, on Department of Employment, Skills, Small and Family Business, website.
I don’t have a Tax File Number (TFN). Do I need to apply TFN to get access to VET Student Loans debt?
You must have a valid TFN by the first census date. If you don’t have a TFN, you can obtain a Certificate of application for a TFN. This certificate is available from the ATO after you have applied for a TFN. If you get a Certificate of application for a TFN, you are required to upload it to your eCAF before you submit. You may also provide (by uploading) a copy of the online application summary and barcode receipt issued by Australia Post.
I am under 18, how do I apply for VET Student Loan debt?
If you are under 18 years of age, a parent or guardian must complete and sign a parental consent form. The completed parental consent form must be given to Mater Education before you can be issued with an eCAF application form.
I am not sure if I want to access the VET Student Loan debt. Should I wait until the CENSUS date?
If you do not complete the eCAF by the CENSUS date of semester one, you will have to wait until the next semester to request a VET Student Loan debt for future study and pay the fees out of your own pocket for the semester.
What is the CENSUS day?
The census day for a course, or a part of a course (eg unit), is the last day you can:
• complete the eCAF to apply for a VET Student Loan for your course, or
• withdraw your enrolment without incurring a debt for the course or part of the course.
What happens if the CENSUS day has already passed?
You cannot access VET Student Loans for a past census day. You must submit your eCAF on or before the first census day for which you wish the loan to apply.
When is my CENSUS date? How do I know about it?
If you are unsure of your CENSUS date, please check, Schedule of fees under the Cost tab on Mater Education’s website or contact Student Services to confirm.
Can I pay extra gap fee in order to reduce the amount of VET Student Loan debt for each semester? How do I go about it?
Yes, you can opt to pay more out of your own pocket (gap fee). Contact Student Services before CENSUS date and inform in writing, about the amount of gap fee you are wishing to pay for the semester to reduce your VET Student Loan debt.
I have full VET Student Loan debt available. Can I reduce my gap fee for the semester or course?
The gap fee is decided by Mater Education for each course/ semester. The gap fee given on the “schedule of fees” is the minimum student contribution (gap fee) to be paid for the semester / course.
I am full fee paying student (not eligible for State funding) accessing VET Student Loans. Can I make a single payment for my gap fee?
Mater Education cannot accept more than $1500 as prepaid fees. You can make single payment for your gap fee as long as the payment does not exceed $1500.
What is a CHESSN and do I need to apply for it?
CHESSN is Commonwealth Higher Education Student Support Number. You will be allocated a CHESSN when you first apply for admission to your course. Your CHESSN is a unique identification number that stays with you for the whole of your student life. Your CHESSN is printed on your Commonwealth Assistance Notice (CAN) which we will send you after the CENSUS date.
How do I know about my tuition fee for each semester?
Refer to the Schedule of fees under the Cost tab on Mater Education’s website or contact Student Services to confirm.
What is a Fee Notice and how is it different from an Invoice?
We will send you VET Student Loans debt Fee Notice for the fee period of your enrolment. This will be sent to your nominated personal email at least 14 days before the census day.
The Fee Notice is not an invoice it is just advising you of the fees you will incur after the census date.
The fee notice contains a range of information including:
• your name, contact details and student identification number,
• 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) – funded students do not incur a VSLdebt loan fee
What is Commonwealth Assistance Notice (CAN)?
We will send you a CAN within 28 days after the census date, for the study period that you are enrolled in.
Your CAN will include information confirming:
• The tuition fees for your course,
• The course code and title
• Upfront payment amount, and
• Any VET Student Loan debt incurred for that study period.
Is there a loan fee?
Full fee paying/fee for service students will incur a 20 per cent loan fee on their VET Student Loan debt. Students whose enrolment is subsidised by the State government do not incur a loan fee.
Will I be charged interest on the VET student loan debt?
There is no interest charged on VETSL debts.
Your VETSL debt is, however, indexed each year. It increases annually on 1 June to maintain its real value, adjusting in line with changes in the cost of living (as measured by the Consumer Price Index figure released each March). Debts are not indexed until they are 11 months old. You can find current and past indexation rates on the Australian Taxation Office website
What is a progression and do I need to complete the progression?
We will send you a progression email, using eCAF system, in FEBRUARY, JUNE and OCTOBER.
You are required to confirm your continued engagement in your course of study by completing the progression. Your ongoing access to a VET Student Loan is dependent upon you demonstrating that you are still engaged in and progressing through your course.
Can I choose the semester I want to access/ not access the VET Student Loan?
Once you have applied for VET student Loan through the eCAF, you can choose to access or not access the VET Student Loan for any semester. You will need to inform Student Services, in writing, prior to the next CENSUS date.
I don’t want to access VET Student Loan in the first semester but I might want to access in the second semester. How do I go about it?
You will have to submit the eCAF by the CENSUS date (of the second semester) in order to access VET Student Loan debt.
If you do not complete the eCAF by the CENSUS date of semester one you will have to wait until the next semester to request a VET Student Loan debt for future study. Retrospective access to VET Student Loans is not allowed under any circumstances.
Inform Student Services, in writing, prior to the CENSUS date, if you do not want to access the VET Student Loan debt for the next semester.
When do I start paying back my VET Student Loan debt?
Your VETSL debt forms part of your accumulated VETSL debt. You must start repaying your VETSL debt through the tax system once your income is above the compulsory repayment threshold, even if you are still studying. The threshold is adjusted each year. Please refer to Australian Taxation office website for the threshold.
What if I need more information about the VET Student Loans or my tuition fee?
Contact Student Services via email at email@example.com, call on 1300 070 350 or visit Mater Education reception, 4th Floor Duncombe Building, Raymond Terrace, South Brisbane QLD -4101.