Accredited courses from leading Australian universities, TAFEs and colleges
StudySelect Team
Oct 14,2024
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.
You must:
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 2024-25 is $54,435.
In 2024-25 you can borrow up to $121,844 under the FEE-HELP scheme. For students studying medicine, dentistry and veterinary science courses, the FEE-HELP limit is $174,998.
The idea of studying now and paying later is certainly appealing, but exactly how much will you have to pay once your salary reaches the compulsory repayment threshold? The amount is calculated as a percentage of your income, so the more you earn, the higher your repayments will be.
2024-2025 repayment rates | |
---|---|
Income Earned | Repayment % rate |
Below $54,435 | NIL |
$54,435-$62,850 | 1.0% |
$62,851-$66,620 | 2.0% |
$66,621-$70,618 | 2.5% |
$70,619-$74,855 | 3.0% |
$74,856-$79,346 | 3.5% |
$79,347-$84,107 | 4.0% |
$84,108-$89,154 | 4.5% |
$89,155-$94,503 | 5.0% |
$94,504-$100,174 | 5.5% |
$100,175-$106,185 | 6.0% |
$106,186-$112,556 | 6.5% |
$112,557-$119,309 | 7.0% |
$119,310-$126,467 | 7.5% |
$126,468-$134,056 | 8.0% |
$134,057-$142,100 | 8.5% |
$142,101-$150,626 | 9.0% |
$150,627-$159,663 | 9.5% |
$159,664 and above | 10% |