VSL Provider Newsletter – April 2024

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Welcome to the VSL Provider Newsletter – April 2024 

In this edition we say farewell to Nisette Anderson who has left VSL to take up a position at the Independent Health and Aged Care Pricing Authority (IHACPA). We also welcome back Kathy Dennis in a temporary capacity until 8 May before the announcement of the new Assistant Secretary who will lead the VSL program through the implementation phase of the reforms we have been undertaking. In addition, George Thiveos has taken on broader responsibility for VSL at the First assistant Secretary level, following the retirement of Matthew Hardy.

Annual reporting requirements – survey for providers

In the VSL Provider Newsletter - February 2024 we advised you about the new annual reporting requirements. You will shortly be receiving an invitation to take part in a survey. The purpose of the survey is to give us a better understanding of how and when you assess student satisfaction.

While participation is voluntary, we welcome your engagement and contribution. Your responses will be used to inform the timing of your submission of information under annual reporting requirements.

Providers lapsing in 2024, seeking further VSL approval 

Providers, whose approval period ends on 31 December 2024, will receive the application form and supporting documents shortly. The VSL provider eligibility (refresher) quiz is a useful tool to refresh your knowledge of VSL program requirements. It will help you understand the information required when completing an application. We encourage you to take the quiz before completing the application form. 

Your Key Personnel, CEO and Primary VET Contact should be up to date in HITS and reflect your current arrangements. Please ensure your key personnel are familiar with the VET Student Loans Act 2016 and the VET Student Loans Rules 2016.

Your VSL data must be accurate, current and up to date. We will assess the suitability requirements based on VSL data reported to the department. You must also provide evidence of current Workers Compensation and Public Liability insurance.

Please complete your applications within 5 weeks of receiving the form. This includes payment of the application fee. This will provide sufficient time for us to assess your application. Any delay with the submission of a complete and valid application may impact the expected outcome date for the application. 

Annual financial statements

Approved non-listed VSL providers with a financial year ending on 31 December 2023 must submit audited general purpose financial statements by 1 May 2024. You should note that special purpose financial statements are not an acceptable form of submission.

The VET Student Loans Ongoing Financial Performance Requirements advises of all required information. You should also provide a copy of your current workers compensation and public liability insurance policy. Please submit all documentation, including your financial statements via HITS.

Section 113 of the VET Student Loans Rules 2016 stipulates that you must provide general purpose financial statements for each financial year within 4 months of the end of the financial year. The department may take compliance action if you fail to do so. This could include suspending payments or revoking your approval as an approved course provider.

Please email queries relating to financial statements to VSLProgramintegrity@dewr.gov.au.

Draft 2024 VSL Tuition Protection Levy settings - consultation

The TPS Advisory Board provides advice and makes recommendations to the TPS Director on the annual VSL levy settings. At its meeting on 8 March 2024, the Board provided it's Draft advice on the 2024 VSL levy settings to the TPS Director.

From late March to May, the TPS Director will consult VSL providers and other key stakeholders on the draft levy settings. In-person sessions will be conducted in most capital cities during the consultation period. To attend one of these sessions, please register at 2024 Domestic Tuition Protection Levy Consultation | Eventbrite.

An online session was conducted on Monday 18 March 2024. A recording of this session and further information about the consultation period is available at 2024 Domestic Tuition Protection Levy Consultation.

Your feedback on the draft 2024 VSL levy settings will be presented to the Board for consideration ahead of its 12 June 2024 meeting. At this meeting, the Board will provide its final advice on the 2024 VSL levy settings to the TPS Director.

You may direct any enquiries or feedback on the levy settings to the TPS via operations@tps.gov.au. We hope to see you at one of the consultation sessions.

You can find further information about the VSL levy and how it is calculated at:

Subscribing to the VSL Provider Newsletter

The VSL Provider Newsletter is how we let you know about program updates and reminders about the program administrative requirements. Let your colleagues know they can subscribe to the newsletter at VET Student Loans – subscribe. You can access previous copies of the newsletter at VET Student Loans Provider Newsletter.