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 for 2016 is 1.5% (reviewed and updated annually in March)

 
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].

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.

2017-2018 repayment rates
2017-2018 Repayment ratesRepayment % rate
Below $55,874NIL
$55,874 – $62,2384.0%
$62,239 – $68,6024.5%
$68,603 – $72,2075.0%
$72,208 – $77,6185.5%
$77,619 – $84,0626.0%
$84,063 – $88,4866.5%
$88,487 – $97,3777.0%
$97,378 – $103,7657.5%
$103,766 and above8.0%

 

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At StudySelect, we’re passionate about learning. By offering students a simple way to find online and on-campus education in Australia, we make it easier to connect with the right course, from the right provider.

StudySelect Team

At StudySelect, we’re passionate about learning. By offering students a simple way to find online and on-campus education in Australia, we make it easier to connect with the right course, from the right provider.