The VET Student Loans program is the Commonwealth Government loan scheme for vocational education and training (VET). Under this program, eligible students studying in approved Diplomas or Advanced Diplomas can pay their tuition fees through a student loan. The loan is repaid via the Australian tax system when the minimum income threshold for repayment has been reached. There is a loan fee of 20% for full fee paying students but there is no loan fee for eligible students in some NSW Government subsidised training places (Smart and Skilled).
The Australian Government announced an exemption of the 20% loan fee for full fee paying VET Student Loan students for amounts incurred on census days between 1 April 2020 to 30 June 2021. Students will not incur the usual 20 per cent loan fee during this time. Students will not need to do anything for the exemption to be applied.