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 2019-20Â is $45,881.
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)
| 2019-2020 Repayment rates | |
|---|---|
| 2019-2020 Repayment rates | Repayment % rate |
| Below $45,881 | NIL |
| $45,881 – $52,973 | 1.0% |
| $52,974 – $56,151 | 2.0% |
| $56,152 – $63,092 | 2.5% |
| $63,093 – $66,877 | 3.0% |
| $66,878 – $70,890 | 3.5% |
| $70,891– $75,144 | 4.0% |
| $75,145 – $79,652 | 4.5% |
| $79,653 - $84,432 | 5.0% |
| $84,433 - $89,498 | 5.5% |
| $89,499 - $94,868 | 6.5% |
| $94,869 - $100,560 | 7.0% |
| $100,561 - $106,593 | 7.5% |
| $106,594 - $112,989 | 8.0% |
| $112,990 - $119,769 | 8.5% |
| $119,770 - $126,955 | 9.0% |
| $126,956 - $134,572 | 9.5% |
| $134,573 and above | 10% |
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
