The Coalition Government’s new VET Student Loans program is a “win-win” for local students and taxpayers that will ensure public funding is used only to support high quality vocational and skills courses.
Federal Member for Parkes, Mark Coulton said the new VET Student Loans will be introduced from 1 January 2017, replacing Labor’s failed VET FEE-HELP scheme, providing better value for money for local students and families, and weeding dodgy providers out of the system.
“The new VET Student Loans program is a big win for local students and will help restore confidence in our vocational education system,” Mr Coulton said.
“Unfortunately some residents across the Parkes electorate have been subjected to underhanded practices of dodgy providers over the past couple of years.
“The sweeping reforms announced today address this by including tougher barriers to entry for providers, considered loan caps on courses to contain costs, stronger course eligibility criteria aligned with business and industry needs, and a focus on students successfully completing courses.
“These changes will help ensure local VET students are equipped with skills that would lead to employment opportunities and meet the training needs of local businesses and industry.”
Minister for Education and Training Simon Birmingham said the new VET Student Loans program was a big win for taxpayers as it will deliver an estimated reduction in total outstanding HELP debt of more than $7 billion across the forward estimates and $25 billion over the next 10 years.
“From the high chair to higher education, the Turnbull Government is committed to ensuring Australians have access to the opportunities and skills they need for life and are encouraged into learning that will ensure they are job-ready and can contribute to the economy,” Minister Birmingham said.
“The waste and rorting and damage to vocational education simply cannot continue and I call on my Parliamentary colleagues to work with the Turnbull Government to help us ensure the new VET Student Loans program is legislated as quickly as possible to facilitate its commencement on 1 January 2017.”
Mr Coulton said a range of support and information was available to local students and providers in the Parkes electorate to help them understand and be ready for the new scheme.
“As well as a public information campaign there will also be stakeholder sessions and resources available to explain what is required of both students and providers under the new scheme,” Mr Coulton said.
Further information about the Coalition Government’s new VET Student Loans scheme can be found at http://www.education.gov.au/vet-student-loans