Get HELP: Government financial assistance

Posted June 9, 2010, by CareerFAQs

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 rates Repayment % rate
Below $46,620 NIL
$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%
CareerFAQs

Academy Xi
ACBI (Australian College of Business Intelligence)
AIBI Higher Education
AIM Business School
ALC Training
Australasian College of Health and Wellness
Australian College of Physical Education
Australian Institute of Business
Australian Institute of Management Education and Training
Australian Institute of Personal Trainers
Billy Blue College of Design
Builders Academy Australia
Building and Construction Training Australia
Celtic Training
Collaboration Learning
College for Adult Learning
Demi International
Ducere Global Business School
Ella Bache College
Endeavour College of Natural Health
Foundation Education
Gateway Training Academy
GROW Training Group
Hader Institute of Education
Hammond Institute
Industry Skills Training
Insight Training
James Cook University Online
La Trobe University
Lumify Learn
MCI Institute
Melbourne College of Further Education
MiTraining
Monarch Institute
Monash College Future Skills
National Business Institute of Australia
Nepean Industry Edge Training
Onfit Training College
Open Colleges
Original Campus
Outsource Institute
Parker Brent
Pet Stylist Academy
Phillips Institute
RMIT Online
Sero Institute
Serve It Up
The Hotel School
The Institute of Applied Psychology
Torrens University Australia
University of Adelaide
University of the Sunshine Coast
UNSW Online
Upskilled
UTS Online
Victoria University Online
Torrens University Australia
Torrens University Australia
University of East London
Southern Cross University