A VET Student Loan (VSL) helps students to cover fees for vocational education and training (VET) courses.
VET Student Loans began on 1 January 2017 and replaced the VET FEE-HELP scheme.
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 search for courses that are approved to offer a VET Student Loan on MySkills. Look for the active 'VSL' logo. Not all registered training organisations (RTOs) are approved to offer VSLs. You can also search on MySkills for RTOs that are approved to offer VSLs.
There is a limit to how much you can borrow under VSLs, 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.
Compare prices, VET courses and training providers at MySkills.
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.