The Australian Institute of Business (AIB) is an accredited Higher Education Provider and is approved to offer FEE-HELP.
FEE-HELP is an Australian Government loan scheme which assists eligible students to pay part or all of their tuition fees. A FEE-HELP loan can cover all or part of a student’s tuition fees. A maximum of $99,389 (for 2016 – indexed annually) in tuition fees may be paid using FEE-HELP over a student’s lifetime.
No loan fee applies to FEE-HELP loans for postgraduate courses such as the MBA. The Commonwealth Government pays the amount of the loan directly to AIB on the students’ behalf. Eligibility for FEE-HELP is not affected by your income and assets. However, once your income is above the minimum repayment threshold you will have to commence repayments of your FEE-HELP debt through the tax system. The current threshold for 2015/2016 is $54,126.
Interest is not applied to FEE-HELP debts; however an index amount is applied each year. This indexation amount is not counted as part of your FEE-HELP limit. The indexation amount is in line with the Consumer Price Index (CPI) and is applied to the outstanding debt that has existed for 11 months or more. You ARE eligible for a FEE-HELP loan if you are either:
- an Australian citizen; or
- hold a permanent humanitarian visa; or
- hold a permanent visa who is undertaking bridging study for overseas-trained professionals; and
- you are studying one of the AIB’s FEE-HELP enabled courses