VET Student Loans
What is the VET Student Loans program?
The VET Student Loans scheme is a loan program designed to help eligible students, who could not otherwise afford to pay fees upfront, enrol at the Academy of Makeup & Hair and gain quality, higher level Vocational Education and Training.
If you are an eligible student, the Department of Education and Training (the department) may approve your VET Student Loan for our Diploma of Screen and Media (Specialist Make-up Services). CUA51015. The department will pay your loan for your fees directly to the Academy of Makeup. You will be responsible for any gap amount in the tuition fees, which are not covered by the loan.
You will owe a debt to the Australian Government for the loan, which will be managed by the Australian Taxation Office.
For more information visit www.education.gov.au/vet-student-loans
VET Student Loans are only available for Approved Course Providers and Approved Courses.
The Academy of Makeup & Hair Pty Ltd is an Approved Course Provider (as of 1 January 2018) and the Diploma of Screen and Media (Specialist Make-up Services) CUA51015 is an Approved Course.
Eligible students are entitled for loans up to a capped amount of $15,514 for the Diploma of Screen and Media (Specialist Make-up Services) CUA51015. Students must pay a Gap Fee for the difference between the capped loan amount and the course fee.
What is a Census Date?
A census date is the last date on which a student can withdraw from a unit of study without incurring a debt for that unit of study. A student’s census date is calculated as their nominated start date plus 20% of the course duration.
Repayment of VET Student Loans
When your income reaches the repayment threshold, you will be required to start repaying your loan.
The threshold can be found at www.studyassist.gov.au
VET Student Loans gives rise to a HELP debt that continues to be a debt due to the Commonwealth until its repaid.
Statement of Tuition Assurance for VET Student Loans
What do you need to know before you enrol?
(1) The only Approved Course offered by the Academy of Makeup is the Diploma of Screen and Media (Specialist Make-up Services) CUA51015. Vet Student Loans are not available for any of our other courses.
(2) Check if you meet the eligibility and entry requirements. Be prepared to provide evidence of identification (including your Australian Birth Certificate or a copy of your Visa), records of your past academic qualifications and you may be required to undertake the Language, Literacy and Numeracy assessment.
(3) You must have a current Tax File Number. This detail is required on your loan application form
(4) Read VET Student Loans Booklet 2017 (https://docs.education.gov.au/documents/vet-student-loans-information-booklet-2017)
Is there a loan fee?
Non State Government subsidised students are charged a 20% loan fee. The loan fee is added to the student loan, but is not included within the student's lifetime FEE-HELP limit.
What happens if I withdraw?
If you are an eligible student studying a Diploma and you withdraw before the census date you will receive a full 100% refund of any tuition fees you have paid upfront and will not incur a student loan debt.
If you are an eligible student studying a Diploma and withdraw after the census date you will incur a debt, unless the debt is remitted under special circumstances. If special circumstances apply, you will need to apply for a refund/re-credit. Please refer to our policies for further information.