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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?

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.

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 2017-18 financial year only. For more information, visit StudyAssist [www.studyassist.gov.au].
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

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