The VET Fee-Help Loans Scheme is set to be overhauled. Close to 500 diplomas are set to be stripped of access to government subsidies after a recent blow to the VET sector. The overhaul of the vocational loans scheme by the Turnbull government has meant many providers are looking for options to gain credibility.
- The 800 vocational courses currently eligible for government loans will soon be reduced to just 347 as of January 1, 2017.
- This will mean 7000 students currently studying in these courses will soon be excluded from the VET FEE-Help loans scheme.
- Loan caps will be initiated where VET FEE-Help will be restricted to reduce the outstanding level of debt in the government’s Higher Education Loan Program.
- The government is looking to tighten the grip on provider’s access to the loans scheme on the VET sector, resulting in an increase in regulation and compliance over the next few years.
Fortunately, the Higher Education sector is a viable option for Australia’s VET providers.
- We seek to understand the challenges and issues facing your organisation – we work with you to maximise your chances of meeting compliance regulations.
- With our unique approach, our tram of experienced specialists will help you meet the higher education industry compliance standards.
- Our mission is to see you grow into the highest quality education provider you can be.
Many organisations planning for future growth are exploring Higher Education as a sustainable income stream. At Darlo, our recognized academics and former TEQSA staff can help your organisation transition to Higher Education and increase your earning potential by being a dual sector provider.
For more details of the changes, visit: http://www.smh.com.au/federal-politics/political-news/vocational-loans-hit-list-revealed-jewellery-making-fitness-coaching-to-lose-support-20161009-gry4qe.html
To enquire about your organisations transition into Higher Education today, speak to Darlo.
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