VET Student Loans (VSL)

VET Student Loans (VSL) is an Australian Government loan scheme that assists eligible students to pay their tuition fees for studying an approved vocational education and training (VET) qualification. The loan is repaid by the student via the Australian tax system when the minimum income threshold for repayment has been reached. For current threshold, refer to the ‘Vital external information’ section at the end of this page.

VSLs are only available for approved courses at the diploma level and above. This means that a student cannot get a VSL for a Certificate IV level course or below.

Leverage Academy has been approved by the Australian Government to deliver a number of diploma courses eligible for a VET Student Loan.

Courses that are approved for a VET Student Loan, and the cap on the loan amounts that students can borrow per course, are set by the Australian Government. A full list of approved courses is provided in the VET Student Loans (Courses and Loan Caps) Determination 2016.

Leverage Academy’s approved courses for a VET Student Loan are:

Citizenship requirements

The VET Student Loans program has strict citizenship, visa and residency requirements. It is not available for all Australian residents. To be eligible, students must be either be:

  • An Australian citizen; or
  • A qualifying New Zealand citizen; or
  • A permanent humanitarian visa holder, who is usually resident in Australia.

For full citizenship details and requirements refer to our student handbook: Citizenship requirements – Leverage Academy’s VSL Student Handbook

Academic suitability

To meet the Australian Government’s academic suitability requirements, you need to provide your:

  • ‘Australian Year 12 Certificate’; or
  • ‘International Baccalaureate Diploma Programme’ (IB) diploma; or
  • Australian Qualifications Framework (AQF) Certificate IV or above (where the language of instruction was English)

If you cannot provide at least one of the above documents, you will be required to display competence at or above Exit Level 3 in the Australian Core Skills Framework (ACSF) in both reading and numeracy. Leverage Academy will assess your competence using an Australian Government approved assessment tool: Safe Work Resources VFH LLN Assessment Tool v2016.1

In addition, Leverage Academy must reasonably believe that you as a student are academically suited to undertake the course; and that you meet any other specified entry requirements for the course.

For full academic suitability requirements refer to our student handbook: Academic suitability – Leverage Academy’s VSL Student Handbook

Additional eligibility requirements:

In order to apply for a VET Student Loan, you must provide current and updated evidence against each of the following criteria (prior to enrolment).

  • Have a tax file number or be applying for one
  • Have a Unique Student Identifier (USI) that can be verified or are otherwise exempt *
  • Provide a parental/guardian consent form signed by your parent/guardian if you are under 18 years at the time of enrolment
  • Not have exceeded the lifetime HELP loan limit
  • You have given the required documents to Leverage Academy and submitted the loan application form by the first census day no less than two business days after enrolling

* If you have accessed Commonwealth assistance between 2005 and 2020 you will have been assigned a CHESSN. From 2021, the CHESSN will be replaced with the Unique Student Identifier (USI) for new students.

Leverage Academy’s Census Dates from 2021

  • Wednesday, 6 October 2021
  • Wednesday, 16 February 2022
  • Wednesday, 25 May 2022
  • Wednesday, 31 August 2022
  • Wednesday, 1 February 2022

The above census dates are for the following qualifications:

  • CPP51119 – Diploma of Property (Agency Management)
  • FNS50315 – Diploma of Finance and Mortgage Broking Management

For full details about the importance and requirements of ‘Census Day’ refer to our student handbook: Census days – Leverage Academy’s VSL Student Handbook

VSL Tuition Protection Statement

It is a default under the VET Student Loans Act 2016 and VET Student Loans Rules 2016 for a training organisation [VSL Provider] from enrolling a student and then failing to start or complete a course. This Act and Rules establishes VSL Tuition Protection arrangements whereby the student will be moved to another VSL provider to start or complete their course under the Government’s Tuition Protection Service (TPS).

This means that, if you enrol in a course with Leverage Academy, and it is unable to conduct the course, The TPS will assist you to move to a replacement VSL provider to continue your studies in the same or similar course. If there are no suitable replacement courses available, you may be entitled to receive a loan re-credit for parts of the course you were unable to complete due to the default. Hence, in the unlikely event that Leverage Academy can no longer provide your course of studies, the law protects you by moving you to another provider or refunds your loan.

For your own protection, you should ensure you keep up-to-date records throughout your study that demonstrate your progression through the course. This includes statements of attainment or other reports which show the competencies you have achieved. These records will assist you in continuing your studies with another provider.

Leverage Academy’s VSL Tuition Protection procedure can be found here: – Leverage Academy’s VSL Student Handbook

Vital external information to be read

Vital internal information to be read – Here

The following policies and procedures relate to students and VET Student Loans. They can be accessed or may be downloaded:

  • Participant Handbook – Some key aspects include:
    • Student grievance procedures
    • Complaint, Assessment Appeal and Appeal forms
    • Privacy notice
  • Leverage Academy’s VSL Student Handbook – Some key aspects include:
    • VSL Tuition Protection procedure
    • VSL Withdrawal procedure
    • VSL Withdrawal Application form
    • Privacy information and handling procedures