Vocational education and training (VET) students receiving VET Student Loans (VSL) instead of the troubled VET FEE HELP (VFH) loans are completing more units of study, according to the latest statistical report on both schemes.
Assistant Minister for Vocational Education and Skills, Karen Andrews said the VFH and VSL annual statistical reports for 2017 showed more positive signs as the sector transitions from VFH.
“The unit completion rate of 82.4 per cent for VSL-assisted students is more than 17 percentage points higher, just one year into the program, than the rate achieved under the VFH scheme in 2016,” Mrs Andrews said.
“This increase is even more significant when you take into account the fact that the 2017 VFH unit completion rate had improved 6.2 percentage points on the 2016 rate.”
She said the VET Student Loans program excluded providers who were trying to take advantage of students, and the results demonstrated that that aim was being achieved.
Mrs Andrews said that in 2017, 42,220 students had a VET Student Loan approved and more than $200 million of VSL loans were paid.
“The highest-ranking course in terms of course enrolments and value of loans paid was the Diploma of Nursing,” she said.
“VSL is producing great results and I look forward to seeing that success continue as the program grows.”
The 35-page annual statistical report can be accessed at this PS News link.
