Post-secondary education cannot be ignored as it moulds an individual into a skilled professional. At times, despite having the ability and will to purse higher studies students have to give up on their dreams because of the paucity of funds to finance their education. Education by no means is a cheap prerogative. A good institution demands good fees as well. Therefore, to solve the problems faced by the deserving students the Australian government came up with the novel idea of study now and pay later. The students can avail vet fee help courses to pursue their qualifications.
The SAF or the Student Assistance Foundation was started with the mission to provide the eligible students with proper tools and sound knowledge regarding the various options available for undertaking and funding their education. SAF organizes various programs for the benefit of the students using the proceeds it gets from the loan servicing it does. They also organize counselling programs for the students and their families. There are a large number of colleges, technical schools, vocational centres, and trade schools which fall under the category of vet fee help courses. The vet fee help assistance is given to almost all the diploma and advanced diploma courses.
The Australian government started the VET-fee help service under the loan schemes covering the eligible students. The VET courses or the vocational education and training courses are meant for students who cannot pay the entire fees on their own. The loan scheme enables the students to pay for their courses without bothering about instant repayment of the loan. The loans can be paid later after the completion of the course. In fact, it enables you to borrow the maximum amount over your lifespan.
The loan scheme levies 20% loan fee for service students. The students who have obtained subsidy by the government are exempted from the loan fee. There is no interest levied on the loans granted for the vet fee help courses. The debt taken by the student is indexed on an annual basis. While computing the debt the prevailing cost of living is taken into account so that the student gets the maximum benefit from the scheme. The correct value of the debt is maintained by indexation.
The loan can be conveniently repaid once the course is over. The loan can be easily returned via the tax system. The repayment begins as soon as the income crosses the minimum repayment amount ascertained by the loan service provider. If the income is over the threshold, then the student required to begin the repayment while studying. Then, there is no need to wait for the course to get over. The loan scheme is so designed that it does not become a burden for the student or the family of the student.
The vet fee help courses are available to any student who clears the eligibility conditions laid down by the authorities. It depends upon the citizenship, the course you are opting for, and visa status. Apart from this, the institution from where you are planning to complete your diploma or the course should be approved for VET-fee help. Only registered institutions are eligible for such loan schemes.