FEE FOR SERVICE
All Minerva College courses are able to be paid for directly, as fee for service qualifications.
VET STUDENT LOANS
The Commonwealth Government's new VET Student Loans program commenced on 1 January 2017.
Course eligibility for VET Student Loans is limited to courses that have a high national priority, meet industry needs, contribute to addressing skills shortages and lead to employment outcomes. Further information and the eligible VET Student Loans course list are available from the Commonwealth Department of Education and Training website http://education.gov.au/vet-student-loans.
What is VET Student Loan?
A VET Student Loan is a Commonwealth Government loan scheme that allows eligible students to study now and pay later, once they reach a defined income level. It helps eligible vocational education and training students cover their fees for Diploma and Advanced Diploma courses.
VET Student Loan assistance is a loan from the Commonwealth and has the following features:
A student may cancel their enrolment by:
Withdrawal will result in the student:
Students may wish to seek independent advice prior to applying for a VET Student loan.
AM I ELIGIBLE?
To be eligible for VET Student loan you must:
* Residency requirements for New Zealand citizens on a Special Category Visa require that applicants must:
How do I pay back the loan?
You repay your VET Student Loan through the Australian tax system when you reach the minimum income threshold for repayment. Information about the minimum income threshold is available on the Study Assist website.
HELP debts are managed by the Australian Taxation Office (ATO). Please contact the ATO on 13 28 61 to find out the balance of your HELP debt. Be sure to have your tax file number (TFN) handy when you call.
How do I apply?
As with any loan taken in your lifetime, you must understand the terms and conditions before you sign up. Please read the Commonwealth VET Student loan Information booklet carefully. Please also consider taking independent financial advice.
If you decide that taking a VET Student Loan is the best way for you to pay for your studies, you will not be able to apply for a loan at the same time as you enrol. It is a Commonwealth requirement that at least two business days elapse between enrolment and applying for a loan. Most students are able to apply for a loan online. Minerva College will send you a link when your eligibility is confirmed. Some students who need to provide evidence to support their eligibility, will be given a hard copy Request for VET Student Loan Assistance.
To apply for a VET Student Loan, you should:
CREDIT / PERSONAL LOAN
Minerva College can assist students who require financial credit or personal loans through our financial services partner Australian Finance Aggregation.
With this option, after addressing certain eligibility criteria, you may be eligible for a personal loan from a financial institution, which must be paid back in line with that institution’s specific terms and conditions, but which will enable you to pay for your course upfront without having to apply for government assistance.
If you would like to investigate your eligibility for credit, you simply need to go to this link and fill out the online form: Apply For Credit.
Spread the cost of your tuition
Minerva College is pleased to announce that there is now an option to pay tuition fees through a Tuition Payment Plan (TPP) managed by a third party, Debitsuccess Pty Ltd – one of the largest direct debit providers in Australia.
From 1st July 2018, if you are enrolling in an eligible Vocational Education and Training (VET) course at Minerva College and you meet certain eligibility requirements, a TPP may be available to you.
Under a TPP, you authorise Debitsuccess to automatically debit tuition fees from your bank account or credit card on a weekly or fortnightly basis over a set period of time.
What is a Tuition Payment Plan?
A Tuition Payment Plan or TPP is a contract that allows you to pay your tuition by direct debit on either a weekly or fortnightly basis.
A TPP is a legally binding contract. If you enter a TPP you will be bound by the terms and conditions set out in that contract.
It is important to realise that Debitsuccess is managing the contract and any communication should be directly with Debitsuccess, as set out in the contract. However, Minerva College may assist you to lodge the documents necessary to enter a TPP or approve the cancellation of a TPP in the ‘cooling off’ period.
Minerva College has set out some general information below to help you work out if you are eligible for a TPP, and some of the key features of a TPP.
Am I eligible for a Tuition Payment Plan (Debitsuccess)?
You are able to apply for a Tuition Payment Plan (TPP) if you meet the criteria below:
What can I pay for with a TPP?
What are the costs?
The exact costs and fees and charges of your TPP will be set out in your contract, including your tuition and instalment amount. Examples of fees and charges that apply under the contract include:
If you enter a TPP and you default on any of your obligations, under the contract additional fees will apply, such as fees or costs related to debt collection, and Debitsuccess may choose to terminate the contract. Please see below for further details.
How is my TPP calculated?
The total is divided into equal instalments, payable weekly/fortnightly.
PLUS one-off Admin fee
Important things to know
TIP: Under a TPP contract, it is your responsibility to ensure that on the due date clear funds are available in your nominated account to meet the direct debit payment. To avoid possible late payment fees we recommend you arrange the TPP debit from your bank account the day after you are paid or when you expect funds to be deposited to your account.
Problems with making payments?
If you are unable to make payments on time, please contact Debitsuccess directly at least three (3) days prior to direct debit date, by
phone: 1800 148 848, or
Additionally, please contact Debitsuccess, if you:
It is important to understand that your TPP arrangement with Debitsuccess is a legal and binding contact.
View Debitsuccess terms and conditions
What happens if I miss a TPP payment?