The Morrison Government is cutting fees and charges to students and educators to support the COVID-19 economic recovery.
The Government will:
• Waive the Tuition Protection Levy for the Higher Education Loan Program (HELP) and VET Student Loans (VSL) program at a cost to Government of $6.3 million.
• Invest $6.3 million in funding to the Tuition Protection Service to ensure student protections are maintained.
• Extend the FEE-HELP loan fee reprieve for private higher education students to 30 June 2021.
• Extend the VSL fee reprieve for students at VSL approved institutions until 30 June 2021.
Minister for Education Dan Tehan said the Morrison Government was providing targeted support to provide immediate relief to the sector.
“Our Government is providing support to more than 50,000 students at private higher education providers by extending the FEE-HELP loan fee reprieve,” Mr Tehan said.
“The current loan fee exemption is estimated to have already assisted about 50,000 FEE-HELP students over the six months to 30 September 2020.
“We are supporting educators with targeted support that provides immediate relief so they can continue to provide high-quality education and training while maintaining jobs.
“An educated and highly skilled workforce will be essential to powering up Australia’s economy following the COVID-19 pandemic.”
Minister for Employment, Skills, Small and Family Business Michaelia Cash said we have been working hard to provide support to the sector throughout the pandemic.
“Our reprieve of VSL loan fees will benefit about 21,000 students,” Minister Cash said.
“Waiving Tuition Protection Levies will save, on average, 88 HELP providers about $41,000 each and 140 VSL providers about $10,000 each.
“These fee waivers will benefit the cashflow of these businesses and help ensure their continued operation.”