Managing your loan
A VSL results in a debt that continues to be a debt due to the government until it is repaid in full.
You will not be required to begin to repay your loan until you reach the compulsory threshold. This figure is adjusted annually. More information can be found at Australian Government Study Assist
There is a loan cap for each VSL program. The loan cap is the maximum amount you can borrow for your program.
If your loan cap is lower than your total tuition fees, you must pay the ‘gap’ to RMIT by the due date, or your enrolment may be cancelled in line with RMITs Discontinuation of Student program procedure.
Programs with tuition fees higher than the loan cap are listed under Eligible programs - loan amount does not cover subsidised tuition fees.
If you have accessed a VET Student Loan for the same program at another provider, you will have already used part of your applicable program cap with that provider.
You are responsible for monitoring your program loan cap and your available HELP balance.
You can check your VSL debt and any existing HELP debt at myHELPbalance.
Your program loan limit will be stated on your RMIT issued VET Student Loan Fee notice and VET Student loan statement of Covered Fees, after you enrol.
Your loan debt incurred at RMIT will be provided via a Commonwealth Assistance Notice after each census date.
Progress in your course
To continue accessing a VET Student Loan, you must demonstrate that you are a genuine student continuing with your studies.
To do this, at least twice a year, you must complete a Progression Form in the electronic Commonwealth Assistance Form (eCAF) system when you receive the invitation email (via firstname.lastname@example.org). This process ensures protection for students accessing the VET Student Loans program.
Refer to the VSL Progression Form Fact Sheet for more information.
If you do not submit your progression forms, your enrolment may be cancelled in line with RMITs Discontinuation of Student program procedure.