VET Student Loans & Eligibility

Information Sheet

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VET Student Loans is an Australian Government loan program that helps eligible students pay their tuition fees. If you’re studying a diploma, advanced diploma, you may be eligible for a VET Student Loan.

• VET Student Loans information booklet
• VET Student Loans Student Obligations
• VET Student Loans Courses and Loan Caps
• 2024 Schedule of Fees

For more information please refer to the Australian Government’s Department of Education, Skills and Employment.

2024 LOAN AMOUNTS FOR NYFAA COURSES

NYFAA has the following courses on the Eligible Courses list and is an Approved Provider. These courses and loan cap amounts are:

• CUA51020 Diploma of Screen and Media, $18,097
• CUA60620 Advanced Diploma of Screen and Media, $18,097

What is a VET Student Loan?

A VET Student Loan is a loan from the Australian Government that helps eligible students enrolled in an approved course, pay their tuition fees. Your loan is repaid through the Australian tax system when you reach the minimum income threshold for repayment. The minimum income threshold for repayment is set by the Australian Government each year and is published on Study Assist. Repayments continue until you have repaid your entire debt.

It is important to note that your loan will remain a personal debt until it is repaid and it may reduce your take-home (after tax) wage and your borrowing capacity. You may wish to seek independent financial advice before applying.

The amount you can borrow for your tuition fees is determined by the Australian Government and in most cases, there are three bands of VET Student Loan Caps set for each course.

A VET Student Loan is only for tuition fees and doesn't cover additional costs such as text books, materials, or accommodation.

Am I eligible for a VET Student Loan?

The Australian Government has approved New York Film Academy Australia to deliver a number of courses eligible for a VET Student Loan. Search our website to find out if a VET Student Loan is available for your course at New York Film Academy Australia.

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.

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). Otherwise, you will be liable to pay the full cost of your course.

Please note: Centrelink benefits do not affect your eligibility or the loan amount you can access.

1. Residency:

• Australian citizen, or
• eligible permanent humanitarian visa holder who usually resides in Australia, or
• New Zealand citizen on Special Category Visa (SCV subclass 444) who meets the long term residency requirements.

Please note: New Zealand citizens on a Special Category Visa must provide an International Movement Record evidencing that:

• you first began living in Australia at least 10 years before applying for a VET Student Loan, and at that time, were a child under 18 years of age and did not have a spouse or de-facto partner, and
• you have been in Australia for at least eight of the 10 years immediately prior to applying and at least 18 months of the last two years.

2. Academic suitability:

• Australian Year 12 Certificate of Education, or
• successful completion of an Australian Qualifications Framework certificate IV or higher qualification (where the language of instruction is English), or

If you cannot provide either of the above documents, you will be required to display competence at Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy. New York Film Academy Australia will assess your competence using the Australian Government approved assessment tool – Core Skills Profile for Adults.

WHAT IS THE PROCESS?

• Prior to enrolment into a course, you will be sent an email with CSPA logon details.
• If you do not have computer access at home, you can visit the New York Film Academy Australia campus.
• Once you have completed the assessments, New York Film Academy Australia will notify you of your results.

Please note: New York Film Academy Australia reserves the right to refuse entry into a course if it believes on reasonable grounds that you are not academically suited to undertake the course.

3. Tax File Number (TFN):

• Name, Address and Date of Birth currently held by the Australian Taxation Office (ATO)

Please note: if your details held at the ATO are not current, we will be unable to enrol you. Check your details are correct by logging into your myGov account prior to enrolment.

• If you don’t already have a TFN you can apply for one online via the Australian Taxation Office (ATO) website. If you apply for your TFN but don’t receive it before enrolment, you can get a Certificate of Application for a TFN from the ATO. Upload your certificate to your electronic Commonwealth Assistance Form (eCAF) before you submit it.
• Once you receive a TFN let New York Film Academy Australia know and update your eCAF as soon as possible.

4. Unique Student Identifier (USI):

• Have your USI ready when you enrol.
• Your Name, Address and date of birth must match your details held at the Australia Tax Office (ATO) and the details you provided at enrolment.

Please note: if you don’t have a USI or your name, address and date of birth held on the USI Registry do not match your details held by the Australia Tax Office (ATO) we will be unable to enrol you.

• If you don’t already have a USI or need to update your details go to the USI website.

5. Parental consent for under 18s:

• There are no age restrictions to apply for a VET Student Loan, however if you are under 18 years of age you must provide one of the following required documents:
  1. Signed Parental Consent form, available from New York Film Academy Australia or on the Australian Government’s Department of Education and Training website; or
  2. Centrelink Income Statement if you are receiving Youth Allowance on the basis that you are independent.

Please note: Your parent or guardian will not be responsible for making loan repayments and it will not affect their credit rating.

Additional eligibility criteria:

You must also meet each of the following criteria in order to be eligible for a VET Student Loan.

1. You do not exceed the HELP loan limit:

• You can borrow up to the HELP loan limit to pay your course fees.
• Any amount you borrow under VET Student Loans, VET FEE-HELP, or FEE-HELP will be added together until you reach the HELP loan limit.
• The HELP loan limit is a lifetime limit and is not reset or ‘topped up’ by any repayments you make.

2. You are studying the approved course primarily at a campus in Australia.

3. You have read the VET Student Loans Information Booklet.

4. You have submitted the electronic Commonwealth Assistance Form (eCAF) five (5) business days prior to your first census day and no less than two business days after enrolling.

Please note: If you intend to study more than one course, you will need to complete one eCAF for each course you wish to access a loan for. If you do not complete and submit your eCAF by the deadline, you may need to make an alternative payment arrangement for your tuition fees.

5. You have submitted the VET Student Loans engagement and progression form.

From 1 July 2017, a student engagement and progression requirement applies to all students wishing to continue to access a VET Student Loan. Depending on the duration of your course, you may be requested to complete this survey more than once (February, June and October each year).

If you do not complete the survey within the required time you will not be eligible to continue to access a VET Student Loan.

For more information download the VET Student Loans - Student engagement and progression FAQs.

How will my course fees be charged?

Tuition fees are charged by unit of study (refer to your Schedule of Tuition Fees) and your course will have a least three fee periods with payments spread proportionately across the duration of your course.

Your course may cost more than the VET Student Loan Cap. If so, you will need to pay the difference (referred to as a gap) between the course fees and the VET Student Loan Cap prior to each census day.

Once enrolled but prior to your first census day for your course, New York Film Academy Australia will provide you with a Statement of Covered Fees confirming that your enrolment has been accepted and the amounts of the course tuition fees that will, and will not, be covered under a VET Student Loan.

In addition to the Statement of Covered Fees, you will receive a VET Student Loan Fee Notice at least 14 days before census day that will show you the amount of tuition fees that will, and will not, be covered under a VET Student Loan for that particular fee period.

If you withdraw your enrolment on or before the census day, you will not incur the tuition fees for that fee period. This applies to fees covered by the VET Student Loan and any gap or upfront fees paid for that fee period.

After the census day has passed and you have submitted your Commonwealth Assistance Form (eCAF), New York Film Academy Australia will send you a Commonwealth Assistance Notice (CAN) that provides you with further information about your debt. If you believe your CAN is incorrect, you should contact New York Film Academy Australia immediately.

Additional fees and charges

A VET Student Loan is only for tuition fees and doesn't cover additional costs such as text books, materials, or accommodation.

In addition, a 20 percent loan fee applies to VET Student Loans for full fee paying or fee for service students. The good news is you don’t have to pay the loan fee upfront; it will be added to your VET Student Loan.

Please note: Students eligible for a state-based subsidy will not need to pay the loan fee.

How do I enrol and pay?

Terms and conditions
Applying for a course does not guarantee you a place in that course. Your place is only guaranteed once you enrol into units. Enrolling means that you are committing yourself to study, and to paying the associated fees.

The tuition fees and applicable charges are required to be paid at enrolment or by scheduled instalment dates either by yourself, a nominated third party (e.g. your employer), or as identified within a contract for delivery of New York Film Academy Australia training. Students studying approved courses at diploma level or above may be eligible to apply for a VET Student Loan.

Enrolment and payment
Once your eligibility has been confirmed, New York Film Academy Australia will assist you to enrol into your course.

Please note: if you enrol less than 14 days before the census day for the relevant units you may not be eligible for a VET Student Loan for those unit(s).

Your course may cost more than the VET Student Loan Cap. If so, you will need to pay the difference (referred to as a gap) between the course fees and the VET Student Loan cap prior to each census day.

Your VET Student Loan is repaid through the Australian tax system when you reach the minimum income threshold for repayment. The minimum income threshold for repayment is set by the Australian Government each year and is published on the Study Assist Website. Repayments continue until you have repaid your entire debt.

It is important to note that your loan will remain a personal debt until it is repaid and it may reduce your take-home (after tax) wage and your borrowing capacity. You may therefore wish to seek independent financial advice before applying for a VET Student Loan.

You have up until the census day to apply for a VET Student Loan. If you do not apply by the census day, you will be liable for the tuition fees payable for that fee period.

How do I apply for a VET Student Loan?

You cannot apply for a VET Student Loan until 2 business days after you enrol but you must submit your application on or before your first census day for your course.

Two business days following your enrolment, New York Film Academy Australia will advise the Australian Government that you wish to apply for a VET Student Loan.

The Australian Government will email you your logon details and password to access and complete an eCAF (the Australian Government’s electronic Commonwealth Assistance Form).

Please note: You must complete and submit your eCAF to the Commonwealth before your first census day. If you do not submit your eCAF by the census day, you will be liable for the tuition fees payable for that fee period.

What are my rights and responsibilities?

If you are considering applying for a VET Student Loan you should familiarise yourself with your rights and responsibilities. For further information, please see:

• VET Student Loan Information Booklet
• Australian Government’s Department of Education, Skills and Employment website
• Study Assist website

New York Film Academy Australia Student Rules:

To ensure fair treatment for students, New York Film Academy Australia has policies and procedures on privacy, equity and diversity, admissions and enrolment, student fees, withdrawals and refunds, academic progression, student misconduct and complaints and feedback.

You are entitled to raise concerns about your academic results or appeal a result.

You may also raise a concern or grievance for a range of non-academic matters, including harassment, vilification, and discrimination, misuse of personal information, financial matters and course applications. For more information, please refer to New York Film Academy Australia’s website.

How do I withdraw or apply for a re-credit?

You can request to withdraw from your course by contacting your local New York Film Academy Australia campus either via the phone, email or in person.

Please note: parent/guardian authorisation is required for students requesting to withdraw who are under the age of 18 years.

If you withdraw your enrolment on or before the census day, you will not incur the tuition fees for that fee period. This applies to fees covered by the VET Student Loan and any gap or upfront fees paid for that fee period. For more information on refunds refer to the website.

However, if you withdraw from your course after the census day, you will incur a VET Student Loan debt and will be liable for any gap payments applicable to those unit(s).

What if I have special circumstances?

If you withdraw after the census day or are unable to successfully complete a unit, and believe this was due to special circumstances, you may apply to have your HELP balance re-credited for the unit of study.

To apply for a re-credit, you need to submit a Re-credit application form to your New York Film Academy Australia campus via post, email or in person.

If you feel that New York Film Academy Australia's decision about your re-credit request is unfair, you also have a right to ask for an internal appeal of the decision. For more information on re-credits please see the website or talk to Student Services.

What is Tuition Assurance?

New York Film Academy Australia reserves the right to cancel a course, for example, in cases of insufficient enrolment numbers. New York Film Academy Australia will discuss other options with you or alternatively you can seek a refund and/or re-credit for your tuition fees.

In the event that New York Film Academy Australia ceases to provide a course after it starts but before it is completed, New York Film Academy Australia will work with affected students to identify a replacement course with another provider, and where this is not possible, the students’ HELP balance for the affected part of the course will be re-credited.

For more information, see New York Film Academy Australia's Statement of Tuition Assurance Statement for VSL.

How do I update my personal details?

It is important that you keep your personal details up to date with New York Film Academy Australia so you don't miss any important communications regarding your course and VET Student Loan.

Please note: if you change your personal details with New York Film Academy Australia please ensure you also update the USI Registry and Australian Tax Office (ATO). You can update your details with New York Film Academy Australia on Canvas or notify Student Services either face to face or via email [email protected].

When you enrol at New York Film Academy Australia the collection, storage, use and disclosure of any personal information you provide are protected by legislation. See our Privacy Policy for more information.