What is the VET Student Loans program?
The VET Student Loans program is an Australian Government loan program that helps eligible students enrolled in approved courses at diploma level or above, at Lyons College pay their tuition fees. The loan has income-contingent repayment arrangements, which means you only need to make repayments if you are earning above the minimum repayment threshold. You can make voluntary repayments at any time.
If you are an eligible student, the Department of Education and Training (the department) may approve your VET Student Loan for an approved course. The department will pay your loan directly to Lyons College. 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 (ATO). More information about VET Student Loans is available from the Department of Education and training: https://www.education.gov.au/information-vet-student-loans-students
It is important to note that:
VET student loans will not be approved for students who do not meet eligibility requirements (for further information see the link below regarding entry requirements); and
a VET student loan gives rise to a HELP debt that continues to be a debt due to the Commonwealth until it is repaid.
Click on the following links for important information you must read before you apply for a VET Student Loan: