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VET Student Loans, a government capped help loan system, is available to eligible LCAD students with Australian citizenship who are enrolled in two or more units of study. Please review the following information carefully in order to understand if you are eligible and what your ongoing obligations might be.

Important considerations

The following information has been prepared to make sure you understand your obligations when applying for a VET Student Loan. Should you require help with your application then you can contact LCAD direct on +613 9495 6622 or email admin@lcad.edu.au.

Borrowing limits

The amount of a VET Student Loan for a course is capped. The loan may not be sufficient to cover all the tuition fees for a course. LCAD will send you a written notice of the amount of your course tuition fees covered by the loan and any gap fees required to be paid by you.  You are responsible for paying the gap fee as you progress through your course.

Repayment rates

The VET student Loan gives rise to a VETSL debt which continues to be a debt due to the Commonwealth until it is repaid. Your VETSL debt must be paid back at the relevant repayment rate when your income is above the compulsory repayment threshold. The compulsory repayment threshold is adjusted annually. Any VET Student Loan debt incurred prior to 1 July 2019 was referred to as your Higher Education Loan Program (HELP) debt and continues to be part of that existing accumulated HELP debt account.

Progression form

At least twice each calendar year for the duration of your course, you are required to submit a Progression Form to confirm your continued engagement in your course of study. LCAD will arrange for Progression Forms to be sent to you using the Department of Education, Skills and Employment’s electronic Commonwealth Assistance Form (eCAF) system. Your ongoing access to a VET Student Loan is dependent upon you demonstrating that you are still engaged in and progressing through your course.

Getting a Tax File Number

When you apply for a VET Student Loan you need to provide your Tax File Number (TFN) because loan repayments are made through the tax system. If you don't have a TFN you must apply to the Australian Taxation Office (ATO) for a TFN as soon as possible. It is best to have your TFN before you enrol to ensure you can access a loan for your studies. For more information visit; https://www.ato.gov.au/

Under 18 years of age?

If you are under 18 years of age, you will need to complete a VET Student Loans Parental Consent Form with your application. Forms are available here.

Census days

A census day is the last day on which you can withdraw from your course or part of your course without having to pay tuition fees. It is the last day you can complete and submit an eCAF in order to access a VET Student Loan for that part of your course. It is a good idea to complete and submit your eCAF as soon as you can.  Census days for this year can be found here.

Applying for a VET Student Loan

Once LCAD is satisfied that you are eligible (check your eligibility here by using the MySkills VET Student Loans Eligibility Tool) and have provided documents to prove that you meet the eligibility criteria, we will give the Department of Education, Skills and Employment your enrolment information through the electronic Commonwealth Assistance Form (eCAF) system. You will receive an auto-generated email from ecafsystem@education.gov.au, providing details on how to sign into the eCAF system so that you can submit a Request for a VET Student Loan eCAF. This is your formal application for a VET Student Loan. You must submit your eCAF on, or before, your first census day. If you do not submit your eCAF on or before the census day, you will not be able to access a VET Student Loan for that fee period.

Once you have submitted your eCAF, you will receive an email confirming your loan approval. If you are having any difficulties submitting your eCAF, please see the eCAF fact sheet or talk to your provider.

Financial Hardship

If you are finding it hard to repay your HELP debt, you can apply to the Australian Taxation Office (ATO) for support. The ATO may allow you to: enter a repayment plan, or defer your repayments. There is a two-year time limit to apply for a deferment of compulsory HELP repayments.  For more information visit; https://www.ato.gov.au/

More resources

Should you require more information on VET Student Loans there are a number of websites that offer helpful information.

Study Assist
MySkills
Eligibility Tool
Australian Taxation Office
DESE Vet Student Loans
myHELPbalance

Need help with your application?

Should you require help with your application then you can contact LCAD direct on +613 9495 6622 or email admin@lcad.edu.au. You can also visit the Australian Government, Department of Education Skills and Employment website here.