Student Loans and Payment Options

An investment in your future

You could say that any money you spend on education is an investment in your future – and what better investment could there possibly be?

At Bedford College we are able to offer several different payment options – and some options are loan schemes designed especially for students studying vocational education courses. You may choose from either of these options OR you could utilise more than one option i.e. borrow part of the tuition fee from one option and part from another. The choice is yours.

What is a VET Student Loan?

An Australian Government loan scheme for the Vocational Education and Training (VET) sector that is part of the Higher Education Loan Program (HELP). VET Student Loans can assist eligible students undertaking certain VET Courses (diploma, advanced diploma, graduate certificate and graduate diploma courses) through a government approved training provider.
Note: A VET Student Loan gives rise to a HELP debt that continues to be a debt due to the Commonwealth until it is repaid. Click here for more information Department of Education and Training’ VET Student Loan

Student eligibility

To be eligible to apply for a VET Student Loan, you must meet the eligibility criteria as outlined below:

  • Are an Australian citizen, a New Zealand Special Category Visa (SCV) holder who meets the long-term residency requirements, or are a permanent humanitarian visa holder. (Proof of Australian Citizenship is required i.e Australian Birth Certificate or Australian Passport and the Australian birth certificate of one parent)
  • Have not exceeded the FEE-HELP limit
  • Can provide your Australian Year 12 Certificate; OR evidence of successful completion of an AQF Certificate IV on higher (where the language of instruction was in English) OR can display competence of Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy through an approved test. (Bedford College can provide an ACSF test to you if required). See the Enrolment page for more details of Approved ACSF test
  • Meet the Tax File Number (TFN) requirements. See the Enrolment page for more TFN Information
  • Have a Unique Student Identifier (USI). See the Enrolment page for more USI information
  • Have read the VET Student Loans information booklet produced by the Australian Government. VET Student Loans Information Booklet

Note: Documentary evidence of the above is required

How much can you borrow for your course?

All courses are subject to maximum loan caps and students are required to pay any fee over and above that cap. Course Costs, VET Student Loan limits (caps) and Gap costs are as below:

VET Student Loans – Bedford College Eligible Courses

Course Name Course Cost VET Loan Limit Gap (per term)
BSB50215 – Diploma of Business $15,900 $5,171 $2682.25
BSB51918 – Diploma of Leadership & Management $15,900 $5,171 $2682.25
Note: Students who enrol in the BSB50215 Diploma of Business may also enrol in the 4 additional units required to qualify for the BSB51918 Diploma of Leadership & Management (Two qualifications are awarded) $ 3,900 $5,171 No Gap
CHC50113 – Diploma of Early Childhood Education & Care $15,900 $10,342 $1389.50
CHC50213 – Diploma of School Age Education & Care $15,900 $10,342 $1389.50
Note: Students who enrol in the CHC50113 Diploma of Early Childhood Education & Care may also enrol in the 4 additional units required to qualify for the CHC50213 Diploma of School Age Education and Care (Two qualifications are awarded) $ 3,900 $10,342 No Gap
CHC52015 – Diploma of Community Services $15,900 $10,342 $1389.50
TAE50116 – Diploma of Vocational Education & Training $3,950 $10,342 No Gap
TAE50216 – Diploma of Design & Development $3,950 $10,342 No Gap

OTHER LOAN OPTIONS & GAP PAYMENT PLANS

Study Loans – Financing your future

Specialising only in student loans, Study Loans is the first dedicated private student loan provider in Australia – it provides a new kind of finance for students seeking assistance in paying for their vocational and tertiary education. Study Loans are all about helping people advance in their careers to reach their full potential by providing the necessary funds to pay for tuition fees during those critical periods of education.

Whether students are looking to save money on student loans, reach that next career goal or invest in their future, Study Loans works to help their customers reach their potential.

Available only through approved Study Loans Partners, Study Loans are specifically designed to fund education to the benefit of students. Loans of up to $15,000 are available.

Study Loans/Bedford College – Information

** Note: A Parent/Guardian loan option is available to students who do not meet the eligibility criteria or are under the age of 18 years
Study Loans – Parent Flyer

A VET Student Loan and/or a Study Loan present two loan options. Other payment methods include payment plans or debit card and credit card payments.

Interest-Free Payment Plans

We are able to offer students/fee payers a simple payment plan to suit your needs. Weekly, Fortnightly, Monthly or Term payments can be made by Direct Debit into our bank either through either your bank account or your credit card. These payment plans do not incur any additional fees or interest to the student/fee payer (with the exception of interest charged by your bank on your credit card transactions).

Bedford College Bank details:

Account Name: Baptist Business College Ltd
BSB: 704 922
Account Number: 1-0000-9201
Reference: Student Name

ADDITIONAL/INCIDENTAL COSTS

Additional/Incidental Costs

COMMONWEALTH BENEFITS ARE AVAILABLE

Government benefits are available for study at Bedford College subject to applicant eligibility.

Austudy

Click here for more information – Austudy

Abstudy

Click here for more information – Abstudy

Youth Allowance

Click here for more information – Youth Allowance

Statement of Tuition Assurance

Bedford College has the following Tuition Assurance arrangements in place:
Statement of Tuition Assurance – VET Student Loans