FNS40821
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Cost Breakdown

Complete cost analysis for FNS40821 including hidden fees and licensing costs

Total Cost Range

Budget Option
Entry Education or NFI Online
$1,612
Tuition:$995 - $1,200
Materials:$200
Police Check:$42
Membership:$175
Most Popular
Mid-Range Option
Kaplan or AAMC Training
$2,612
Tuition:$1,500 - $1,995
Materials:$200
Police Check:$42
Membership:$375
Premium Option
College for Adult Learning
$3,117
Tuition:$2,500
Materials:$200
Police Check:$42
Membership:$375

Tuition Fees by Provider

ProviderDelivery ModeDurationCost
Entry Education100% Online6-12 months$995
National Finance InstituteOnline6 months$1,200
AAMC TrainingOnline6-12 months$1,500
IPAOnline6-12 months$1,600
Monarch InstituteOnline6-12 months$1,950
Kaplan Professional100% Online26 weeks$1,995
AIMOnline + Face-to-Face6-12 months$2,200
College for Adult LearningOnline6-12 months$2,500

Hidden Costs & Additional Fees

Course Materials & Resources$150 - $300

Textbooks, online resources, and learning materials may not be included in tuition.

Typical materials include:

  • • Digital textbooks and study guides
  • • Access to online learning platforms
  • • Assessment templates and tools
  • • Industry reference materials
National Police Check$42 - $87

Required for ASIC licensing. Must be obtained when applying for an Australian Credit Licence (ACL) or becoming a credit representative.

Industry Membership (MFAA/FBAA)$175 - $500/year

While not mandatory, membership in professional bodies like MFAA or FBAA is highly recommended for compliance support and CPD.

Provides access to CPD programs and industry updates
ASIC Licensing Fees$2,000 - $5,000

If you plan to hold your own Australian Credit Licence (ACL), you'll need to pay ASIC application fees.

Individual ACL:$2,000
Company ACL:$5,000
Annual levy:$1,000+

Note: If you work as a credit representative under an existing ACL holder, you won't need to pay these fees.

Professional Indemnity Insurance$1,500 - $5,000/year

Required for ACL holders. Credit representatives are typically covered under their licensee's policy.

Government Funding Options

VET Student Loans
Federal government loan scheme
Loan Cap for FNS40821:
$5,801

VET Student Loans help eligible students pay for their tuition fees. You only start repaying once you earn above the threshold.

Eligibility:

  • • Australian citizen or eligible visa holder
  • • Enrolled in an approved course
  • • Meet LLN requirements
State-Based Subsidies
Varies by state and eligibility

Some states offer subsidized training for eligible students:

Victoria - Skills First

Subsidized training for eligible Victorians

Queensland - Certificate 3 Guarantee

May cover some costs for first qualification

NSW - Smart and Skilled

Subsidies for eligible students

Total Investment Summary

Complete Cost to Practice as a Mortgage Broker
From enrollment to working as a credit representative
Tuition (Budget Option)$995 - $1,200
Course Materials$200
Police Check$42
Industry Membership (Year 1)$175 - $375
Credit Representative Authorization$0
Total to Start Working:$1,412 - $1,992

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