Course Payment Options

 

Course Payment Options

 

COURSE PAYMENT OPTIONS

These course payment options are available to all students (subject to eligibility) undertaking training at Grayclay

Grayclay offers a range of flexible payment options which include fee for service and payment plans. Find one that suits your budget and preferred way of paying bills.

Option 1 - General Fees/Fee for Service

Students studying as either online or on-campus fee-paying students will be required to enter into a direct debit arrangement for the duration of their study, making weekly payments, if their fees are greater than the required deposit of $1500.00.

For example, a student studying a course over the period of a year, the course price is $10,000. They will pay a deposit of $1500.00 and the remaining fee of $7500 is divided over 52 weeks of the year. Therefore 52 weekly payments of $144.23. The direct debit payment plan has a $100 set up fee.

Fees will vary depending upon the chosen course and study load. You can choose to enroll as a full-time, part-time, and even per unit student at some training divisions, depending on your work, family, and financial commitments.

Some forms of transactions attract a fee, see Schedule of Administrative Fees

Option 2 – VET Student Loans (applies to specific courses only)

The VET Student Loans (VSL) program assists eligible students pay tuition fees for approved higher-level (diploma and above) vocational education and training (VET) courses, when studying at VET Student Loans approved course providers. The program is designed to provide financial support to students undertaking higher level training in courses that address workplace and industry needs, creating better opportunities for employment.

VET Student Loans is an Australian Government loan scheme that assists eligible students to pay their tuition fees for certain eligible courses listed on the Approved Course List and undertaken at approved course providers. It allows students to borrow funds up to the cap set for their chosen course of study and up to their FEE-HELP limit to help pay for part or all of their tuition fees.

Checking your eligibility

Students are eligible for a VET Student Loan if they:

  • are enrolled in a VET Student Loans approved course offered by a VET Student Loans provider
  • meet citizenship/residency requirements
  • have an available HELP balance of more than $0 (that is, have sufficient HELP balance remaining)
  • meet student entry requirements.

To see if you are likely to meet the eligibility requirements, check out the VET Student Loans VSL eligibility check | Your Career on the Explore Your Career | Your Career website. On this website you will also find the VET Student Loans Calculator. The calculator will help you understand what your debt will be when you start your course, how your debt will increase with indexation, and any additional tuition costs you might be expected to pay upfront.

You should also speak to an approved VET Student Loans provider about accessing a VET Student Loan to pay for your studies. The provider will confirm if you are eligible to access a VET Student Loan.

You need to know

Students who access VET Student Loans assistance need to know;

(i) it is a loan from the Commonwealth; and

(ii) the loan will remain a personal debt until it is repaid to the Commonwealth; and

(iii) the loan may, until the debt is repaid, reduce a student’s take-home (after-tax) wage or salary and may reduce the student’s borrowing capacity; and

(iv) a student may wish to seek independent financial advice before applying for a loan;

As part of the student entry procedure, all students must either:

  • provide an Australian Senior Secondary Certificate of Education (year 12 certificate) or
  • provide their International Baccalaureate Diploma Programme (IB) diploma or
  • display competence at or above Exit Level 3 in the Australian Core Skills Framework in both reading and numeracy or
  • provide a certificate of a qualification at level 4 or above in the Australian Qualifications Framework or
  • undertake a Language Literacy and Numeracy assessment with their VET Student Loans provider

Census dates

A census date is the last date per college term that a student can apply for/access VET Student Loans and the last day that a student can withdraw from a unit of study without incurring a debt. Withdrawal after the census date means that a proportion of your tuition fees will be debited from your VET Student Loans balance.

As a student, your tuition fees will be split up over the duration of your course (this will depend on what course you are undertaking and whether you are studying at a full-time or part-time study load) and will include one census date per fee period.

The census date must be at least 20% of the way through the study period for that unit of study (which should include normal study breaks and assessment or exam periods). Grayclay provides students with a Statement of Covered Fees prior to the commencement of their course and will also provide a VET Student Loans Fee Notice prior to each census date and commencement of the unit of study/fee period. For more information on census dates, please click here

Grayclay census dates can be found here College Terms and Fee Schedules | Medical Aesthetic Training Course | Australia (grayclay.com.au)

Notifications

An enrolled student needs to notify Grayclay of any change of contact details.

Option 3 – Study Loans

Grayclay is proud to be partnered with Study Loans – the first dedicated private student loan provider in Australia.

They offer students with competitive interest rates and flexible payment schedules making it easier to fund your studies.

For any students wishing to utilise Study Loans to assist in funding their course fees; we recommend visiting their website by clicking here. This will provide further information on calculating your repayments and determining the pre-qualification factors.

NB:

  • Credit criteria, terms and conditions, fees and charges apply.
  • Students should always seek independent financial advice before making a decision on a financial product.
  • Study Loans. ACL 498589.

Other Options - Fee support and tax deductions

Student and/or Personal Loans

Most banks offer student loans at fairly competitive rates to students studying Nationally Accredited courses. For a comparison between student loans, please visit: http://www.finder.com.au/student-loans

Tax Deductions

Contact the Australian Taxation Office or a qualified accountant to assist you with accurate and appropriate information regarding tax deductions associated with study.

Grayclay, are not financial advisors, information provided on this website is general in nature and does not constitute financial advice.

Grayclay will endeavor to update the website as needed. However, information can change without notice and Grayclay does not guarantee the accuracy of the information on the website, including information provided by third parties, at any particular time.

Individuals must not rely on this information to make a financial or investment decision. Before making any decision, we recommend you consult a qualified accountant to take into account your particular investment objectives, financial situation, and individual needs.