HECS-HELP: Study now, pay later
Posted July 10, 2015, by Career FAQs team
HECS-HELP
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 2017-18 is $55,874.
Is there anything else I need to know?
HECS-HELP debts don’t incur interest, but are indexed each year in line with the Consumer Price Index (CPI).
The indexation rate is currently 1.5% (reviewed and updated annually in March)
| 2017-2018 repayment rates | |
|---|---|
| 2017-2018 Repayment rates | Repayment % rate |
| Below $55,874 | NIL |
| $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 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.
Career FAQs team
