HECS-HELP: what does it mean?

Posted 5 July 2016, by

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 $55,874 financial year only. For more information, visit StudyAssist [www.studyassist.gov.au].
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%

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 the HELP loan schemes.

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