35 years instructing here, but no idea what TAE theory is? I googled it, but just got a lot of stuff about Taekwondo. Have they mentioned the Part 61 Manual of Standards yet?
"feel like it's just "filler" to make this course eligible for government funding under VET."
"$32,000 + Govn taxes of 20%"
On top of that $6400 for "admin fees", you will have indexation at the current rate of 7.1% ie $2726 added to the loan balance on 1 June. So for a $32,000 course, if you don't make any repayments by 1 June 2024, you will have a loan balance of $41,126.
You will need to earn over $75,000 pa for your repayments to make the loan balance go down at current indexation rates, otherwise it will continue to climb. I presume you checked out the GA award to work out if this would be possible on a Grade 3 instructor's wage before committing?
(Someone who has borrowed $150,000 will need to earn over $127,000 in the first year for the balance to go down by a whopping $140.)
The only way out of the trap of VET funding is to pay as much of it off as you can as a voluntary payment in May each year before the indexation is added. Good luck getting a bank loan on an instructor's wage when you have a VET debt.
If you have a problem with the quality of the course, you can complain through the Australian Skills Quality Authority Complaints about training providers | Australian Skills Quality Authority (ASQA) I don't think that helped all those people who were scammed by Soar though.