Elite can offer detailed guidance for Government Loan VET FEE-HELP study courses and other payment options for a broad range of study courses that are available from training and education organisations.
Elite assists students to enrol in courses that best suit their needs, however getting financial assistance is the key to getting a study program underway and Elite understands the payment options available – after all undertaking a course is all about improving your future vocational prospects.
Let our advisors help you to understand what is available that is suitable for your personal circumstances.

See also the Government’s Study Assist website: http://studyassist.gov.au/sites/studyassist/helpfulresources/pages/studentoverview_budget2014

Here is a broad overview of available course financing:

Commonwealth Supported Place (CSP) – with a CSP student fees are subsidised by the Australian Government and pay what is called a ‘student contribution’ with the option to utilise the HECS-HELP loan scheme to pay their contribution.

HECS-HELP (formerly HECS) – is a loan scheme available to eligible students studying in Commonwealth-supported places at a higher education institution. Note: The Higher Education Loan Program (HELP), formerly the Higher Education Contribution Scheme or HECS, allows students to apply for government assistance when they undertake university studies. Students are able to access HELP up to a lifetime limit as set by the government, and repay the loan when they earn over an indexed threshold.

FEE-HELP – a loan scheme available to eligible students who are studying a higher education course not covered as by a CSP.

VET FEE-HELP  – assistance is a loan from the Commonwealth. The VET FEE-HELP loan will remain as your debt obligation until it is repaid to the Commonwealth. You have to start repaying your HELP debt through the taxation system once your repayment income is above the compulsory repayment threshold. The compulsory repayment threshold for the 2016-17 income year is $54,869.

You are eligible for VET FEE-HELP if you:

• are an Australian citizen or permanent humanitarian visa holder (resident in Australia for the duration of the unit);
• have not exceeded the FEE-HELP limit, which is $99,389 for the 2016 calendar year;
• meet the tax file number (TFN) requirements; AND
• apply at least 2 days prior to the census date

For more information regarding eligibility requirements, read the VET FEE-HELP Information Booklet (2016) and FAQs.

Certain New Zealand Special Category Visa (NZ SCV) holders now have access to HELP loans

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.
The Study Assist NZ FAQ page has been updated to reflect this information, and is available at: FAQs New Zealand

A separate Commonwealth Assistance form is to be used by eligible candidates.

Prior to applying for a VET FEE-HELP loan students MUST READ the current version of the VET FEE-HELP Information Booklet and FAQ’s.

Students may not receive the Request for Commonwealth Assistance Form until at least 2 business days from enrolment have elapsed.

If a Request for Commonwealth Assistance Form is submitted less than 2 business days before the census date for the unit of study, the student will not be able to receive VET FEE-HELP assistance for the unit.

For more information visit > VET FEE-HELP website

For information a TrainSmarts VET FEE-HELP Policies> Click here

AUSTUDY – financial assistance for students older than 25 years in a full-time in an approved course or undertaking a full-time Australian apprenticeship, and who meet personal income, an assets test and residence requirements. Note: Full-time secondary education courses, diplomas, TAFE courses, graduate courses, undergraduate courses, and some masters degree courses are approved for Austudy.

ABSTUDY – financial assistance for Aboriginal or Torres Strait Islander Australians who meet residence requirements and enrolled in an approved course or Australian apprenticeship, and not receiving other government assistance to study or complete an apprenticeship.

YOUTH ALLOWANCE – financial assistance for Australians aged 20-24 years old who are studying full-time and undertaking a full-time Australian apprenticeship, undertaking other training or looking for work. If you are between the ages of 16 and 20, you may also be eligible to receive Youth Allowance as income and for study support.

PRIVATE FINANCING – some course providers offer private financing to assist students through an interest-free payment plan.

SCHOLARSHIPS – a range of scholarships are available through providers, businesses and the government – the details of these can be sourced through online searches and the various sites can be found on the Study Assist website detailed above

Elite Colleges is dedicated to assist prospective students identify the best financial assistance package for whatever course they decide to undertake. The range of financing options available means those intending to undertake a study course now to improve their potential income and lifestyle through gaining a well rewarded job have the means available to lessen the worry about how to pay for studying and gaining new skills and qualifications.

Elite Colleges wants to help every student who joins as a client achieve their maximum vocational potential and take advantage of the opportunities that will arise as a result of achieving formal qualifications through a study program.