Federal Assistant Minister for Vocational Education and Skills, Karen Andrews has announced that the second formal application round for VET Student Loans will open on Wednesday the 30th August 2017.
Minister Andrews has invited quality training providers to apply to become eligible to offer VET Student Loans under the Government’s new sustainable, student-focussed vocational education and training system.
The new VET Student Loans (VSL) program is significantly different to the historical VET Fee Help Scheme, which was plagued with issues. The new VSL program is strengthened and includes:
- loan caps on courses
- stronger course eligibility criteria that are aligned with the needs of industry
- mandatory student engagement measures
- a stronger focus on students successfully completing courses
- tougher entry requirements for providers
The VET Student Loans provider application process now includes the payment of a mandatory and non-refundable $5,110 application fee. This fee will assist with the recovery of costs incurred by the Department associated with processing and assessing applications.
Training Providers that are interested in submitting an application are invited to register to attend an information session that will be held in Canberra on Tuesday the 5th of September 2017. This information session will provide applicants with more information on the application process, assessment criteria and suitability requirements needed to apply to become a VET Student Loan provider.
The application process will close on Tuesday the 26th of September 2017.
If you have any questions about how the VET Student Loans program works, or want to discuss your application get in touch with the team at Audit Express on 1300 73 55 41.