There are a number of different funding sources available in Australia for both individuals and companies to offset the cost of training and education. Each program is different and has a different set of eligibility criteria.
Funding programs include:
- VET FEE HELP – is available to assist eligible students studying higher levels vocational education and training (VET) qualifications to pay their tuition fees. VET FEE HELP can be used to pay all or part of an eligible student’s tuition fees.
- The Victorian Training Guarantee – The Victorian Government contributes a percentage of the tuition fees for eligible employees under the Victorian Training Guarantee.
- Skills For All – Skills for All is a South Australian government initiative. Funding is available for courses from Certificate I to Advanced Diploma levels. The government contributes significantly to the tuition fees for eligible students.
- Traineeships – Funding is available for registered Australian companies that hold an ABN number. Companies are only eligible to share in the funding that relates specially to their industry. Only training which leads to a nationally recognised qualification attracts funding. However, not all of the nationally recognised training qualifications in Australia attract traineeship funding. The different States have varying funding arrangements.
- The National Workforce Development Fund – The National Workforce Development Fund aims to assist individual enterprises and industry sectors to increase their workforce capacity by providing employers and workers with the opportunity to enhance their skill levels through formal training. The fund is based on a sliding co-contribution model providing targeted responses to identified business and enterprise need.
Who is it for?
Funding comes in many shapes and sizes, it can be funding for the individual or for the company. It can be in the form of a loan or a grant. It can be for some or all of the training costs.
How to apply for it?
ProLearn can help. We can assess your situation and give you advice on funding availability.