Fee Options for VET Diploma programs
VET Student Loans
SAE students studying VET Diplomas in Adelaide may be eligible for partial funding assistance with VET Student Loans (VSL*).
Students are eligible for a VET Student Loan if they:
- are enrolled in a VET Student Loans approved course offered by a VET Student Loans provider;
- meet citizenship/residency requirements;
- have a FEE-HELP balance of more than $0; and
- meet student entry requirements.
Eligible VET Diploma programs are:
- CUA50815 Diploma of Music Industry (Studio Production)
- CUA50815 Diploma of Music Industry (Electronic Music Production)
Eligible students can access VET Student Loans where they can apply for an Australian Government loan and start making repayments (through tax) when they are earning more than $45,881 per year (as per the 2019/20 financial year).
*From 1 January 2017, The Australian Governments VET FEE-HELP scheme has been replaced by the VET Student Loans (VSL) scheme. For detailed information regarding the VET Student Loan scheme you can visit the Department of Education and Training website or access the 2019 VET Student Loan Information Booklet provided by the Department.
A VET Student Loan is a personal debt obligation that can affect your credit rating and have wage and tax repayment implications. It is also important to understand that a VET Student Loan gives rise to a HELP debt that continues to be a debt due to the Commonwealth until it is repaid. It is important to remember the following:
- the loan will remain a personal debt until it is repaid to the Commonwealth; and
- the loan may, until the debt is repaid, reduce a student’s take-home (after-tax) wage or salary and may reduce the student’s borrowing capacity; and
- a student may wish to seek independent financial advice before applying for a loan.
VET Student Loans will not be approved for students who do not meet eligibility requirements. For more information on eligibility requirements, visit the Department of Education and Training website.
SAE VET Diplomas, are currently listed as approved and eligible for funding assistance under the new VSL program with the loan funding capped at $10,342 per course.
VET Student Credit Agreement
For students studying SAE VET Diplomas the maximum VET Student Loan amount for SAE courses is $10,342 and a gap exists for full cost of tuition. For eligible Diploma students commencing in Trimester one 2017, SAE also offers access to an interest-free VET Student Credit Agreement. This agreement is designed to enable students to make monthly repayments for the tuition gap (the difference between the total SAE tuition fees less the VSL amount of $10,150). Eligible students may choose a combination of the VET Loans Scheme and the SAE VET Student Credit Agreement to pay for their studies.
If students choose not to apply for the interest-free VET Student Credit Agreement or a VET Student Loan, tuition fees are paid upfront in trimester installments. The first payment is due by the first day of your course commencement.
The first trimester of tuition fees must be paid on initial registration. Please contact email@example.com for further registration information. All further tuition fees are paid in instalments prior to the commencement of each subsequent trimester.
Fee Options for certificate and short courses
For SAE's certificate level and short courses, tuition assistance is not available and fees are due on the day of course commencement.
Visa conditions may or may not allow international students to study certificate level or short courses with SAE. Please contact firstname.lastname@example.org for further information.
New Zealand Special Category Visa (NZ SCV) holders HELP loans
In December 2015, the Australian Government passed legislation to allow certain NZ SCV holders access to HELP loans from 1 January 2016.
To be eligible, NZ SCV holders are required to meet a range of long term residency requirements.
These requirements are:
- that the student arrived in Australia at least 10 years ago as a dependent child (i.e. aged under 18 years of age and did not have a spouse or de-facto partner); and
- the student has been ordinarily resident in Australia for the previous 10 years (that is, they have been here for the last 10 years – including resident for eight of the last 10 years, and 18 months of the last two years), and;
- the student is otherwise eligible for HELP.
For more information on HELP loans for NZ SCV holders, including clarification on whether you hold a NZ SCV, please visit: http://studyassist.gov.au/sites/studyassist/helpfulresources/pages/faqs-nz