VET STUDENT LOANS
WHAT IS THE VET STUDENT LOANS PROGRAM?
The VET Student Loans scheme is a loan program designed to help eligible students, who could not otherwise afford to pay fees upfront, enrol at The Makeup Technicians and gain knowledge, attitude and skills to work in the entertainment industry as a professional makeup & hairstylist/designer from a quality, higher level Vocational Education and Training.
If you are an eligible student, the Department of Education and Training (the department) may approve your VET Student Loan for our CUA51015 Diploma of Screen and Media (Specialist Make-up Services). The department will pay your loan for your fees directly to The Makeup Technicians. You will be responsible for any gap amount in the tuition fees, which are not covered by the loan.
You will owe a debt to the Australian Government for the loan, which will be managed by the Australian Taxation Office.
For more information visit www.education.gov.au/vet-student-loans
VET Student Loans are only available for Approved Course Providers and Approved Courses.
The Makeup Technicians Pty Ltd is an Approved Course Provider (as of 1 January 2019) and the CUA51015 Diploma of Screen and Media (Specialist Make-up Services) is an Approved Course.
Eligible students are entitled to loans up to a capped amount of $15,793 for the CUA51015 Diploma of Screen and Media (Specialist Make-up Services). Students must pay a Gap Fee for the difference between the capped loan amount and the course fee.
WHAT IS A CENSUS DATE?
A census date is the last date on which a student can withdraw from a unit of study without incurring a debt for that unit of study. A student's census date is calculated as their nominated start date plus 20% of the course duration.
REPAYMENT OF VET STUDENT LOANS
When your income reaches the repayment threshold, you will be required to start repaying your loan.
The threshold can be found at www.studyassist.gov.au
VET Student Loans gives rise to a HELP debt that continues to be a debt due to the Commonwealth until its repaid.
If TMT ceases to provide a course in which you are enrolled, TMT will ensure that you are offered enrolment in a similar course of study.
Alternatively, TMT will:
• Refund any upfront payment for any unit of study due to TMT ceasing to offer that course
• Re-credit your loan balance for the affected unit
• Act in accordance with the Statement of VET Tuition Assurance
WHAT DO YOU NEED TO KNOW BEFORE YOU ENROL?
• Check if you meet the eligibility and entry requirements. Be prepared to provide evidence of identification (including your Australian Birth Certificate or a copy of your VISA), records of your past academic qualifications and you may be required to undertake the Language, Literacy and Numeracy assessment.
• You must have a current Tax File Number. This detail is required on your loan application form.
• Read VET Student Loans Booklet
IS THERE A LOAN FEE?
Non-State Government-subsidised students are charged a 205 loan fee. The loan fee is added to the student loan, but not included within the student's lifetime FEE-HELP limit.
WHAT HAPPENS IF I WITHDRAW?
If you are an eligible student studying a Diploma and you withdraw before the census date you will receive a 100% refund of any tuition fees you have paid upfront and will not incur a student loan debt.
If you are an eligible student studying a Diploma and withdraw after the census date you will incur a debt, unless the debt is remitted under special circumstances. If special circumstances apply, you will need to apply for a refunded/re-credit. Please refer to our policies for further information.