New tuition protection arrangements
The new tuition protection arrangements will be sector-funded and underpinned by a sustainable provider levy framework. The levy framework – developed by the Australian Government Actuary – will cover the long-term costs of tuition assurance by requiring all non-exempt approved VET Student Loan (VSL) and FEE-HELP or HECS-HELP providers to contribute annual levies commensurate with their size and risk.
In the event of a course or provider closure, VSL students will be supported to continue their studies in an equivalent course. Where continuation of study is not possible, students may be entitled to receive a loan re-credit for units of study commenced but not completed.
Further information on the new tuition protection arrangements is available in the New tuition protection Q&As for VET Student Loans