From 1 January 2017 VET FEE‑HELP will cease and VET Student Loans will commence. For more information visit VET Student Loans.
The Higher Education Support Act 2003 (the Act) was amended by the Higher Education Support Amendment (VET FEE-HELP Reform) Act 2015 which enacted new measures commencing 1 January 2016 to further strengthen the scheme. These changes have played a significant role in controlling the growth ahead of a more fundamental redesign of the scheme to a new model in 2017 that better reflects the unique nature and practice of the VET sector.
The amendments:
- Strengthen the debt remission process for students under VET FEE-HELP
- Strengthen the assessment criteria for, and ongoing scrutiny of, all training providers
- Ensure student debt is incurred in line with course delivery, and establish increased protections for students
- Establish minimum pre-requisite and prior education qualification, including demonstrated literacy and numeracy requirements.
- Freeze the total loan limit for existing providers at 2015 levels
- Introduce new entry requirements for training providers wishing to offer VET FEE-HELP loans
- Support altered payment arrangements in arrears of census dates for certain providers
- Pause payments to providers for new enrolments where there are concerns about provider performance.
The Government targeted eight key areas as part of the reforms. The details of these VET FEE‑HELP reforms are available in the VET FEE-HELP reform factsheet.
Providers can access further details on these changes on the Help Resources for Providers page. If you are a student and want to know how these changes affect you, please visit the Study Assist website at www.studyassist.gov.au.