Explanatory Memorandum
(Circulated by the authority of the Minister for Tertiary Education, Skills, Jobs and Workplace Relations)General outline
This Bill makes amendments to improve the Commonwealth's ability to manage risk to public monies and potential risks to students, as well as provide for greater administrative efficiencies in the operation of the FEE-HELP and VET FEE-HELP Assistance Schemes under the Higher Education Support Act 2003 .
Specifically, the Bill contains: information use and disclosure provisions including with the newly established national regulators in the vocational education and training and higher education sectors being the National VET Regulator and the Tertiary Education Quality Standards Agency respectively; strengthened compliance provisions for approved VET providers; amendments which provide greater clarity and transparency for administrative arrangements for applications times; and amendments which provide improved congruity with tax-related legislation with respect to Higher Education Loan Program (HELP) debts.
FEE-HELP and VET FEE-HELP are available to eligible students studying in higher level education and training, and provides a loan for all or part of a student's tuition fees. This assistance is aimed at encouraging students to take up higher level skill qualifications by reducing the financial barriers associated with study.
Financial impact statement
There are no financial impacts associated with this Bill.