HECS-HELP: Study now, pay later
Posted July 10, 2015, by Career FAQs team
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?
- 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|
|$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.