VET Student Loans and Payment Options

An Australian Government loan scheme for the Vocational Education and Training (VET) sector that is governed by the VET Student Loans Act 2016. VET Student Loans can assist eligible students undertaking certain VET Courses (diploma, advanced diploma, graduate certificate and graduate diploma courses) through a government approved training provider.

Note: A VET Student Loan gives rise to a VETSL debt that continues to be a debt due to the Commonwealth until it is repaid. Click here for more information Department of Education and Training’ VET Student Loan.

Please refer to VSL Information Booklet or visit Department of Education, Skills and Employment VET Student Loans for more information.

To be eligible to apply for a VET Student Loan, you must meet the eligibility criteria as outlined below:

  • Are an Australian citizen, a New Zealand Special Category Visa (SCV) holder who meets the long-term residency requirements, or are a permanent humanitarian visa holder. (Proof of Australian Citizenship is required i.e Australian Birth Certificate or Australian Passport).
  • Have not exceeded the FEE-HELP limit.
  • Can provide your Australian Year 12 Certificate; or International Baccalaureate Diploma Programme (IB) Diploma, OR evidence of successful completion of an AQF Certificate IV on higher (where the language of instruction was in English) OR can display competence of Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy through an approved test. (Bedford College can provide an ACSF test to you if required, the results of assessing a student’s competence in reading and numeracy under the procedure must be reported to the student as soon as practicable after the assessment and be reported to the Secretary in the form, manner and by the time requested by the Secretary). See the Enrolment page for more details of Approved ACSF test.
  • Meet the Tax File Number (TFN) requirements. See the Enrolment page for more TFN Information.
  • Have a Unique Student Identifier (USI). See the Enrolment page for more USI information.
  • Have read the VET Student Loans information booklet produced by the Australian Government. VET Student Loans Information Booklet.


Note: Documentary evidence of the above is required

All courses are subject to maximum loan caps and students are required to pay any fee over and above that cap. Course Costs, VET Student Loan limits (caps) and Gap costs are as below:

Course Code & Name

Course Cost

Vet Loan Limit

Gap

BSB50120 Diploma of Business

$9,980

$10,813

No Gap

BSB50420 Diploma of Leadership & Management

$9,980

$10,813

No Gap

Note: Students who satisfactorily complete the Diploma of Business
course (BSB50120) may undertake the additional four units and be
eligible to receive the Diploma of Leadership and Management (BSB50420)

$2,900

$10,813

No Gap

CHC50121 – Diploma of Early Childhood Education & Care

$5,990

$16,221

No Gap

CHC50221 – Diploma of School Age Education & Care

$9,980

$16,221

No Gap

CHC52015 – Diploma of Community Services

$9,980

$16,221

No Gap

TAE50116 – Diploma of Vocational Education & Training

$3,950

No Gap

TAE50216 – Diploma of Design & Development

$3,950

No Gap

Other Loan Options and Gap Payment Plans

Study Loans – Financing your future

Specialising only in student loans, Study Loans is the first dedicated private student loan provider in Australia – it provides a new kind of finance for students seeking assistance in paying for their vocational and tertiary education. Study Loans are all about helping people advance in their careers to reach their full potential by providing the necessary funds to pay for tuition fees during those critical periods of education.

Whether students are looking to save money on student loans, reach that next career goal or invest in their future, Study Loans works to help their customers reach their potential.

Available only through approved Study Loans Partners, Study Loans are specifically designed to fund education to the benefit of students. Loans of up to $15,000 are available.

Study Loans/Bedford College – Information

** Note: A Parent/Guardian loan option is available to students who do not meet the eligibility criteria or are under the age of 18 years Study Loans – Parent Flyer

vet-student-loan

Interest-Free Payment Plans

We are able to offer students/fee payers a simple payment plan to suit your needs. Weekly, Fortnightly, Monthly or Term payments can be made by Direct Debit into our bank either through either your bank account or your credit card.

These payment plans do not incur any additional fees or interest to the student/fee payer (with the exception of interest charged by your bank on your credit card transactions).

Other Loan Options and Gap Payment Plans

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