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 2019-20 is $45,881.
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.
|2019-2020 repayment rates|
|2019-2020 Repayment rates||Repayment % rate|
|$45,881 – $52,973||1.0%|
|$52,974 – $56,151||2.0%|
|$56,152 – $59,521||2.5%|
|$59,522 – $63,092||3.0%|
|$63,093 – $66,877||3.5%|
|$66,878 – $70,890||4.0%|
|$70,891 – $75,144||4.5%|
|$75,145 – $79,652||5.0%|
|$79,653 – $84,432||5.5%|
|$84,433 – $89,498||6.0%|