VET Student Loans

Study Now, Pay Later

With a VET Student Loan*, you can study now and pay your course fees later!

No Payments Until You Earn Over $51,550

You don’t need to pay anything back until you earn over $51,550 a year (And you’ll only pay up to 10% per year)

Selected Providers

Only a few, select providers around Australia can offer VET Student Loans, and TrainSmart Australia is one of them!

VET Student Loans Logo

Government Student Loans

VET Student Loans is a Government loan offered by the Australian Government to eligible students enrolling into Vocational Education and Training (VET) to help pay for their tuition fees.

VSL Key Facts

  1. A VET Student Loan is a loan issued by the Commonwealth
  2. This loan will remain as a personal loan that must be repaid to the Commonwealth
  3. You  must meet eligibility criteria
  4. The loan, until it has been repaid, may reduce the students after-tax income and may reduce the students borrowing capacity through other loan providers (such as home, car, etc)
  5. A student is welcome to seek additional financial advice prior to applying for a VET Student Loan
  6. A 20% loading fee is applied to all VET Student Loans by the Australian Government (This does not count towards your VSL cap).

You don’t need to begin repaying the loan until you earn over $51,550 a year. The loan is repaid based on your income at a percentage between 1% – 10%.

Am I eligible?

To find out if you are eligible for a VET Student Loan, you can use our quick and easy VET Student Loans Eligibility Tool below! Just fill in the form below to start.

What Would My Repayments Be?

To help you figure out a ball park as to what your repayments are, you can access the Study and Training Support Loan Repayments Calculator through the ATO!

Just click the link below to access the calculator and get started!

Just click the link below to access the calculator and get started!

* Please note, this tool offers an estimated repayment amount and is not guaranteed to be 100% accurate and should only be used as a general guide.

Frequently Asked Questions

Certain New Zealand citizens can access VET Student Loan funding to cover the cost of their tuition fees.

A qualifying New Zealand citizen is a New Zealand citizen who meets ALL the following criteria:

  • was a dependent child when he or she was first usually resident in Australia;
  • holds a special visa category, such as the New Zealand Special Category Visa (SCV, subclass 444);
    • has been usually resident in Australia for at least 10 years;
    • has been in Australia for periods totalling 8 years during the previous 10 years; and
    • has been in Australia for periods totalling 18 months during the previous 2 years.

To demonstrate that you do meet all of these conditions, you must submit a copy of your international movement records, which you can obtain by completing and lodging Form 1359 with the Department of Home Affairs. 

Approved Vet Student Loan courses must: 

  • Be listed on the VET Student Loans (Courses and Loan Caps) Determination 2016
  • Lead to an Australian Qualifications Framework qualification such as a diploma, advanced diploma, graduate certificate or graduate diploma
  • Approved by the Department of Education and Training to offer VET Student Loans to eligible students

You can view an approved course provider list online here.

Approved courses are generally subject to one of three loans caps: $5,000, $10,000 and $15,000. In your lifetime you can borrow up to $100,879.

You start repaying your loan through the taxation system once your income is above the compulsory repayment threshold. The compulsory repayment threshold for the 2023-24 income year is $51,550.

Yes, you can make voluntary repayments anytime through the Australian Taxation Office. In addition, the compulsory repayments are still made through your tax return.