Completion rates significantly higher under VET Student Loans
- Assistant Minister for Vocational Education and Skills
The VET Student Loans (VSL) program continues to deliver improved outcomes, with a significantly higher percentage of students successfully completing units of study under VSL than the failed VET FEE‑HELP (VFH) scheme.
Assistant Minister for Vocational Education and Skills, Karen Andrews, said the VET Student Loans six‑monthly report for 1 January 2018 to 30 June 2018, released today, showed continued positive signs as the sector transitions from VFH.
“VSL-assisted students during the first half of 2018 had a unit completion rate of 74.4 percent—more than 9 percentage points higher than the rate achieved in the whole of 2016 under the VFH scheme,” Minister Andrews said.
“The Government’s VET Student Loans program was designed to exclude dodgy providers, like those that took advantage of students under the failed VET FEE-HELP scheme, and results like these demonstrate that effort is paying off.”
In the first six months of 2018, a total of 43,294 students had a VET Student Loan approved and more than $144 million of VSL loans were paid.
The Diploma of Nursing holds on to its top place as the highest-ranking course by enrolment and value of loans paid—a position it has held since VSL was introduced at the beginning of 2017.
“VSL is producing strong results and I look forward to building on that success as the Government continues to invest in the VET sector, and places a hallmark on quality skills and training outcomes,” Minister Andrews said.
“Our reforms put students first, focusing on delivering real skills for real careers.”
The report can be found at: www.education.gov.au/vet-student-loans-statistics.