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A bit of change of format for this episode of the Podcast. I’m re-sharing a recording made for the flight school website where I instruct. This one is all about some of the financial assistance that the Australian Government provides that can also be used towards the gaining of a commercial helicopter licence.
* This will likely only apply to Australian citizens. If you live outside of Australia then you might want to skip this particular episode *
VET Student Loans are a Government Loan to assist Australians to gain new skills and qualifications that will improve their employability in the workplace.
These are similar to other Australian Government training assistance programs such as HECS. If you are in the USA then it might be similar to the GI Bill funding that people have used towards helicopter training.
What the podcast covers:
- 2 biggest questions – employment chances and starting salary
- What are VET Student Loans and how do they apply to Helicopter Training
- Eligibility Criteria
- Typical Diploma CPL(H) course structure and electives
- 105 hour course vs 150 hour course
- Costs involved
- Application process
- Pros and Cons of using VET Student Loans for your helicopter training
- How Aeropower has structured the training course
Lifetime loan amount – The majority of students have a lifetime limit of $104,440 to use for VSL (changing in 2020, have a look at study assist website for more information).
This is a loan that has to be paid back. Once your loan amount is drawn down it is passed to the Australian Tax Office for administration.
The loan amount is recovered from your tax return once you start to earn over a threshold amount. Min salary threshold 2019/2020 for repayment $45,881 Starts at Pay back 1 % of the loan amount.
Maximum loan amount – for Diploma of Aviation (Commercial Pilot Licence – Helicopter) is $77,571 (as at August 2019).
The loans can only be used on a Diploma course and not a straight CASA CPL(H) licence course. They are only available through approved VET Student Loan training providers.
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Links from this week’s episode:
Support the podcast on Patreon
World Helicopter Day – global events on Sunday 18 August 2019
MySkills.com.au Website – list of flight schools in Australia that can provide training under the VET student loan program.
Example VET Student Loan Helicopter Course – outline of the course structure that Aeropower uses for students taking up a VET Student Loan for helicopter training.
Have a comment or feedback about Episode 76? Have a particular question about VET Student Loans for helicopter training? Be part of the conversation by leaving a comment below.