A VET Student Loan is a loan from the Australian Government that helps eligible students pay their tuition fees. Your loan is repaid through the Australian tax system when you reach the minimum income threshold for repayment. The minimum income threshold for repayment is set by the Australian Government each year and is published on Study Assist. Repayments continue until you have repaid your entire debt.
It is important to note that your loan will remain a personal debt until it is repaid and it may reduce your take-home (after tax) wage and your borrowing capacity. You may wish to seek independent financial advice before applying.
The amount you can borrow for your tuition fees is determined by the Australian Government and in most cases, there are three bands of VET Student Loan Caps ($5,406, $10,813 and $16,221) set for each course.
A VET Student Loan is only for tuition fees and doesn't cover additional costs such as text books, materials, or accommodation.
ZeeFi is Australia’s fintech partner to the education sector, committed to providing students affordable payment plans to enable better access to quality education. ZeeFi offers Vocational Loans, the affordable payment option for courses that might not be covered by government funding. Vocational Loans help remove any financial barriers – so you can upskill or advance your career opportunities, regardless of the availability of government funding.
Take a look at their dedicated courses page about us to choose what you want to study with the help of ZeeFi funding!
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