VET loan system stays

The government is very pleased that a review of its VET loan scheme finds it is working well. ““The review confirms the current vet student loans course list and loan caps are successfully balancing industry needs, employment outcomes and student choice, while ensuring the student loans program remains fiscally sustainable and focused on the needs of students,” Assistant Minister for Vocational Education and Skills Karen Andrews says.

Not, you understand that there is actually a “review” as in a document explaining success. What the government released yesterday was a discussion paper and submissions on the capped loans that replaced the VET FEE HELP disaster. The long long list of submissions, mainly from students and teachers is worth sampling – if only to be reminded that the after-shock of the training fee mess impacted many, many blameless people.

The loan caps for next year will be the same as for this, with minor indexation increases, to $5075, $10,150 and $15,225. The list of providers whose students can borrow for a course will be updated to keep it in line with existing requirements but is otherwise unchanged.

“Minister Andrews said the review found little evidence to suggest a need to vary the current VSL settings at this stage.”


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