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Highlights

  • The Australian Government offers income-contingent loans to support study and training, with repayments linked to your income level.
  • HELP loans assist eligible higher education students by covering student contributions or tuition fees.
  • VET Student Loans (VSL) support diploma-level and higher vocational training aligned with industry needs.
  • SSL and ABSTUDY SSL provides voluntary start-up loans for students receiving Youth Allowance, Austudy, or ABSTUDY Living Allowance.
  • AASL offers financial support to apprentices, with a 20% loan discount upon successful completion of their apprenticeship.

The Australian Government offers financial support through income-contingent education loans to help individuals pursue higher education, trade apprenticeships, and other eligible training programs. These loans ease the upfront cost of study and are repaid only when your income exceeds a set threshold. Repayments are made automatically through the tax system, and you can choose to make voluntary contributions to pay off your debt faster. Each year, your loan is indexed to reflect changes in the cost of living. If no repayments are made, your loan may grow over time, making it important to understand your obligations and plan ahead.

Types of loans

You can find several loans available from the Australian Government to help you complete further training and study.

HELP

The Higher Education Loan Program (HELP) supports eligible students by covering their student contribution or tuition fees at universities and other higher education institutions. Various types of HELP loans are available, tailored to suit different student needs and circumstances.

VSL

The VET Student Loans (VSL) program provides financial support to eligible students enrolled in approved diploma-level and higher vocational education and training courses. Designed to align with industry needs, the program helps improve employment outcomes while offering protection for students. VSL loans are income-contingent, meaning repayments begin only when the student's income reaches a certain threshold.

VET FEE-HELP (VFH)

SSL and ABSTUDY SSL

The Student Start-up Loan (SSL) and ABSTUDY Student Start-up Loan (ABSTUDY SSL) schemes were introduced on 1 January 2016, replacing the former Student Start-up Scholarship. These voluntary loans are available to eligible higher education students who receive one of the following payments: Youth Allowance, Austudy, or the ABSTUDY Living Allowance. Payments under these loan programs are managed by Services Australia.

AASL

Under the Australian Apprenticeship Support Loan (AASL) program, formerly known as the Trade Support Loan (TSL), eligible Australian apprentices can access financial support over four years. If an apprenticeship extends beyond four years, payments may continue at the fourth-year rate until the apprentice either completes their training or reaches the lifetime loan limit. Apprentices who complete their apprenticeship receive a 20% discount on the total amount borrowed, excluding any indexation or repayments already made. AASL payments are managed by Apprentice Connect Australia Providers in partnership with the Department of Employment and Workplace Relations.

Government-backed income-contingent loans ease education and training costs, encouraging participation in higher study and apprenticeships, though careful planning is needed as indexed debts can grow if repayments are delayed.