VET FEE-HELP SPECIAL ANNOUNCEMENT
On 5 October 2016, Senator the Hon Simon Birmingham, Minister for Education and Training, announced the commencement of VET Student Loans from 1 January 2017. The Minister also announced that access to the current VET FEE-HELP scheme for existing students will cease on 31 December 2017.
Information on the new VET Student Loans program and the transition from VET FEE-HELP is available on the Department of Education’s website at www.education.gov.au. This includes fact sheets on arrangements for current VET FEE-HELP students.
Any Virtu student requiring specific advice should contact the Virtu Administration Manager and Registrar on email@example.com
Information for current VET FEE-HELP students
The following information is taken from publications distributed by the commonwealth Government
From 1 January 2017 VET FEE-HELP will cease and a new VET Student Loans prorgam will commence.
Students currently financing their studies through a VET FEE-HELP loan will not be automatically transferred to the new VET Student Loans program.
Are VET Student Loans different to VET FEE-HELP?
• Yes, the VET FEE-HELP scheme will cease on 31 December 2016 and the VET Student Loans program will be a significantly different program.
• Many courses currently available under VET FEE-HELP will not be eligible for assistance under the new arrangements.
• Some currently approved VET FEE-HELP providers may not be eligible to deliver courses under VET Student Loans. Virtu has applied to become a VET Student Loan provider.
Why is this program replacing VET FEE-HELP?
• This program is being implemented to provide sustainable and affordable opportunities for students to undertake higher level VET courses.
• VET Student Loans align to, and provide students with the skills to meet industry needs and employment outcomes.
• Under VET FEE-HELP, a number of providers offered courses they were not properly set up to deliver and used unscrupulous marketing practices to target potential students into signing up for courses they may not be ready to undertake, or to request a loan for a course without the proper resources to make an informed decision.
• VET Student Loans protects students by ensuring these behaviours do not persist.
What if I’m part way through my course?
• The Government is mindful that current students may want to continue their studies under existing VET FEE-HELP arrangements.
• If you are a current continuing student accessing VET FEE-HELP, you have the option to continue accessing VET FEE-HELP until 31 December 2017.
• Later this year, you will need to let the Australian Government Department of Education and Training know that you wish to continue to access VET FEE-HELP by completing an online form which will be available on the department’s website.
• The department will contact you personally when the online form is available and explain the next steps.
• If you do not let the department know you would like to continue, your access to VET FEE-HELP will cease 31 March 2017.
What if I’ve already signed up for a course that does not start until 2017?
• As the VET FEE-HELP scheme effectively ceases on 31 December 2016, you will no longer be eligible for VET FEE-HELP.
• You can however apply to access VET Student Loans from 1 January 2017, should your course be eligible.
• Students wanting to apply for VET Student Loans should read the factsheet ‘Information for Students’.
Where can I find out more?
• Before making a decision, it is recommended that students speak to their education providers and visit www.education.gov.au/vet-student-loans
where more information on the new measures and transition arrangements can be found.
• If you have a VET FEE-HELP debt you will continue paying this off as you currently do. To view your HELP balance visit www.ato.gov.au/Individuals/Study-and-training-support-loans
For more information, visit www.education.gov.au/vet-student-loans
• If you have questions you may contact the HELP Student Enquiry line on 1800 020 108 or email VETStudentLoans@education.gov.au
Course Fees and Refunds
Virtu Institute is committed to ethical behavior and fairness and as a result believes that all students and purchasers should only pay for services and goods provided, if they are of a high quality standard, in good order (if applicable) and if delivered in a timely manner.
Under certain circumstances students and prospective students of Virtu can claim a refund of course tuition fees paid and the conditions of these refunds are outlined in the document: VDIP&P20401 Refund Policy.
When completing the Enrolment Form applicants will be asked to read the Virtu Terms & Conditions and will be asked to tick a box indicating their agreement to these terms and conditions. A downloadable version can be accessed from this page.
From 1 January 2017, VET Student Loans will be implemented for all newly enroling students wishing to access the Commonwealth Government FEE-HELP income contingent loans. Virtu has been approved Provisionally by the Department of Education and Training to offer VET Student Loans FEE-HELP income contingent loans between 1 January 2017 and 30 June 2017 for a limited number of students and courses.
There are specific criteria students must meet to be eligible for a loan through VET Student Loans.
Students must have been assessed as academically suited to undertake the eligible course and their FEE-HELP balance must be greater than zero. Furthermore, a student must be:
• an Australian citizen, or
• hold a permanent humanitarian visa and usually reside in Australia, or
• be a qualifying New Zealand citizen.
Additionally you will be required to provide us with:
• a certified copy of a certificate for a qualification at Australian Qualifications Framework (AQF) level 4 (or above) that was delivered in English, or
• a Senior Secondary Certificate of Education awarded by an agency or authority of an Australian State or Territory for your completion of year 12 of school, or
• a certificate of competency at or above Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy using an approved assessment tool arranged by Virtu.