All VET Student Loan (VSL) and Higher Education providers that are approved under the TCSI reporting scheme are required to report data for their TCSI Data Collection obligations.
This article will serve to highlight some common terminology across the VFH/VSL/TCSI reporting platform.
Below are some useful terms and acronyms.
- Accumulated HELP debt - The consolidated total of any VET Student Loan (VSL), VET FEE‑HELP, FEE-HELP, HECS-HELP or OS‑HELP debts a student has incurred (including any Government loans for study incurred before 2005).
- Administrative Date - A date (before the census date) set by the approved VET Student Loan (VSL) / VET FEE-HELP provider (approved provider) by which they want the student to submit their Request for VET Student Loan (VSL) / VET FEE-HELP assistance form or to withdraw their enrolment. Note: a student can still submit their application for a loan or withdraw from a unit after the administrative date (but by the census date) without incurring debt but they may have to pay a late enrolment fee or a late withdrawal fee.
- Approved VET Student Loan (VSL) Provider (approved provider) - An organisation that has been approved by the Australian Government under the Higher Education Support Act 2003 as an approved VET provider able to offer VET FEE‑HELP loans to its students.
- Census Date - Deadline for various requirements, including submitting the Request for VET Student Loan (VSL) / VET FEE-HELP assistance form, making any up-front payment of the tuition fees and formally withdrawing from any units.
- Commonwealth Assistance Notice (CAN) - Notice from the approved provider detailing information about the Commonwealth assistance usage for each study period.
- Commonwealth Higher Education Student Support Number (CHESSN) - Unique identification number as a person accessing a HELP loan (or studying in a Commonwealth supported place).
- Course of Study - Studies leading to a vocational education and training (VET) award, (for example a diploma, advanced diploma, graduate certificate or graduate diploma).
- Eligible Unit of Study (for VET Student Loan (VSL)) - A unit that is part of a course of study leading to a VET award at the diploma, advanced diploma, graduate certificate or graduate diploma level undertaken through an approved provider.
- VET Student Loan (VSL) / FEE-HELP - Australian Government loan program to help eligible fee-paying students to pay their tuition fees.
- FEE-HELP Balance - The amount of VET Student Loan (VSL) / VET FEE-HELP (and/or FEE-HELP) a student has left before reaching the FEE-HELP limit.
- VET Student Loan (VSL) / FEE-HELP limit - The maximum amount of VET Student Loan (VSL) (and/or FEE-HELP) a student can use over their lifetime.
- Fee-Paying Student - A student who pays full tuition fees for their course at an approved provider.
- Higher Education Loan Program (HELP) - Australian Government loan program which helps eligible students pay their tuition fees (VET Student Loan (VSL), VET FEE-HELP or FEE-HELP), student contributions (HECS-HELP) and overseas study expenses (OS-HELP). These loans are repaid through the tax system.
- Indexation - Individual accumulated HELP debt is adjusted on 1 June each year to reflect changes in the Consumer Price Index.
- Registered Training Organisation (RTO) - A training organisation that has been approved by the State Government or the Australian Skills Quality Agency (ASQA) to provide vocational education and training (VET) courses.
- Repayment Threshold - The income level above which a student is required to make a compulsory repayment on your accumulated HELP debt.
- Request for VET Student Loan (VSL) Assistance - The form that a student must submit to their approved provider to apply for a VET Student Loan (VSL) / VET FEE-HELP loan.
- Special Circumstances - Specific requirements set out in the Higher Education Support Act 2003 and its associated guidelines that a student must meet to have their VET Student Loan (VSL) / VET FEE-HELP debt removed and their FEE-HELP balance re-credited.
- Subsidised Student - A student enrolled in a course at an approved provider which is subsidised by the State Government.
- Tax File Number (TFN) - Unique identification number from the Australian Taxation Office for everything tax-related, including making VET Student Loan (VSL) / VET FEE-HELP repayments.
- Tuition Fees - Fees that fee-paying students (i.e. those not enrolled in a Commonwealth supported place) are charged. These fees are set by individual providers.
- VET Student Loan (VSL) / VET FEE-HELP debt - The debt a student will incur if they borrow funds through the VET Student Loan (VSL) / VET FEE-HELP scheme to pay their tuition fees.