FEE-HELP: Study now, pay later
Posted July 10, 2015, 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 2017-18 is $55,874.
How much can I borrow?
In 2017 you can borrow up to $100,879 under the FEE-HELP scheme. For students studying medicine, dentistry and veterinary science courses, the FEE-HELP limit is $126,101.
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 in March to reflect changes in the Consumer Price Index (CPI).
The indexation rate for 2016 is 1.5% (reviewed and updated annually in March)
|2017-2018 repayment rates|
|2017-2018 Repayment rates||Repayment % rate|
|$55,874 – $62,238||4.0%|
|$62,239 – $68,602||4.5%|
|$68,603 – $72,207||5.0%|
|$72,208 – $77,618||5.5%|
|$77,619 – $84,062||6.0%|
|$84,063 – $88,486||6.5%|
|$88,487 – $97,377||7.0%|
|$97,378 – $103,765||7.5%|
|$103,766 and above||8.0%|
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.