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Get HELP: Government financial assistance

Posted June 9, 2010, by Career FAQs team

Paying for study with a HELP loan scheme is a great way to make education affordable. But who actually qualifies for HECS-HELP or FEE-HELP? And, when do you have to start paying back your loan? We’ve put a spotlight on the government’s Higher Education Loan Program (HELP) to help you find the right financial assistance option for you.

 

What is HECS-HELP?

The HECS-HELP scheme provides you with access to a loan to help you pay your student contribution amount, with the added incentive of a discount for upfront payment of your tuition fees.

 

Am I eligible?

You must:

  • Be studying in a subsidised enrolment at university – known as a Commonwealth Supported Place.
  • Be an Australian citizen or permanent humanitarian visa holder.
  • Enrol with an approved provider, by the census date.

 

When do I starting paying back my loan?

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 2020-21  is $46,620.

 

Disclaimer: This information is correct at the time of publishing, but is subject to change under the current government’s higher education reforms. The figures provided are applicable for the 2020-21 financial year only. For more information, visit StudyAssist [www.studyassist.gov.au].

To get started with your HECS-HELP application, or for more information, you can head to the StudyAssist website.

Browse through our range of online courses that are covered by HECS-HELP.

 

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?

You must:

  • 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 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.

 

Disclaimer: This information is correct at the time of publishing, but is subject to change under the current government’s higher education reforms. The figures provided are applicable for the 2020-21 financial year only. For more information, visit StudyAssist [www.studyassist.gov.au].

 

To start your FEE-HELP application, or for more information, head to the Study Assist website.

Browse through our range of online courses that are covered by FEE-HELP.

2020-2021 Repayment rates
Repayment ratesRepayment % rate
Below $46,620NIL
$46,620 – $53,8261.0%
$53,827 – $57,0552.0%
$57,056 – $60,4792.5%
$60,480 – $64,1083.0%
$64,109 – $67,9543.5%
$67,955 – $72,0314.0%
$72,032 – $76,3544.5%
$76,355 – $80,9355.0%
$80,936 – $85,7925.5%
$85,793 – $90,9396.0%
$90,940 – $96,3966.5%
$96,397 – $102,1797.0%
$102,180 – $108,3097.5%
$108,310 – $114,7078.0%
$114,708 – $121,6988.5%
$121,699 – $128,9999.0%
$129,000 – $136,7399.5%
$136,740 and above10%
Career FAQs team

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