FEE-HELP: Study now, pay later
Posted June 9, 2020, by Career FAQs team
What is FEE-HELP?
FEE-HELP is a loan scheme to help students pay all, or part, of their tuition fees. You can only access FEE-HELP if you’re planning to study at a university or other private higher education institution that has been approved to offer FEE-HELP to eligible students.
Am I eligible?
- Be enrolled in an eligible unit of study, offered by an approved FEE-HELP provider, by the census date; AND
- Be an Australian citizen undertaking one unit of study in Australia; OR
- Be a permanent humanitarian visa holder, residing in Australia for the duration of your unit; OR
- Be a permanent visa holder undertaking bridging study for overseas-trained professionals, and residing in Australia for the duration of study.
When do I starting paying back
You’ll start repaying your HELP debt once your taxable income reaches the compulsory repayment threshold. This threshold is adjusted every year.
The threshold for the 2020-21 is $46,620.
How much can I borrow?
In 2020 you can borrow up to $106,319 under the FEE-HELP scheme. For students studying medicine, dentistry and veterinary science courses, the FEE-HELP limit is $152,700.
Is there anything else I need to know?
There is a 25% FEE-HELP loan fee applied to undergraduate courses. This does not count towards your FEE-HELP limit, and is calculated for each individual unit you undertake.
Your HELP debt is indexed each year on June 1 to reflect changes in the Consumer Price Index (CPI).
|2020-2021 repayment rates|
|Repayment rates||Repayment % rate|
|$46,620 – $53,826||1.0%|
|$53,827 – $57,055||2.0%|
|$57,056 – $60,479||2.5%|
|$60,480 – $64,108||3.0%|
|$64,109 – $67,954||3.5%|
|$67,955 – $72,031||4.0%|
|$72,032 – $76,354||4.5%|
|$76,355 – $80,935||5.0%|
|$80,936 – $85,792||5.5%|
|$85,793 – $90,939||6.0%|
|$90,940 – $96,396||6.5%|
|$96,397 – $102,179||7.0%|
|$102,180 – $108,309||7.5%|
|$108,310 – $114,707||8.0%|
|$114,708 – $121,698||8.5%|
|$121,699 – $128,999||9.0%|
|$129,000 – $136,739||9.5%|
|$136,740 and above||10.0%|
To get started with your FEE-HELP application, or for more information, you can head to the StudyAssist website.
Browse through our range of online courses that are covered by FEE-HELP.