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VET Student Loans Information

Loan Repayment 


  • Repaying the loan is required when a student's income reaches the repayment threshold. If you use a VET Student Loan, you will not have to make any repayments in the 2022–2023 income year unless your income is $48,361 or above.

  • The maximum loan amount you can borrow from the Australian Government to cover tuition fees is:


HELP limit 

  • The HELP limit: The maximum amount of VET Student Loans, VET FEE-HELP and FEE-HELP, a student can use over their lifetime. For 2023, the FEE HELP limit is $113,028 for most students.​​

HELP Balance

The HELP balance is the available amount of VET Student Loans, VET FEE-HELP and/or FEE‑HELP that a student have left to use before you reach the FEE-HELP limit. Each student is responsible for keeping track of their FEE-HELP balance and for advising Benchmark College if they do not have enough left to cover the tuition fees.

Loan Fee

A 20 per cent loan fee applies to VET Student Loans for full fee paying / fee for service students. The loan fee does not count towards your FEE-HELP limit.

When a student's enrolment is subsidised by the State or Territory Government (e.g. Smart and Skilled, subsidised by the NSW Government) do not incur a loan fee.

For example, if you are undertaking a course that costs $5,000, the loan fee is $1000 (i.e. 20% of $5,000). So your VET Student Loans debt for that course will be the cost of the course ($5,000) + the loan fee ($1000) = $6,000.

Loan caps 


  • Eligible students will be entitled for loans up to a capped amount. 

  • Benchmark College may charge above this cap for a course, and if so, students will be expected to pay for the difference according to Benchmark College's payment arrangements. 

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