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 2020-21 is $46,620.
2020-2021 repayment rates | |
---|---|
Repayment rates | Repayment % rate |
Below $46,620 | NIL |
$46,620 – $53,826 | 1.0% |
$53,827 – $57,055 | 2.0% |
$57,056 – $60,479 | 2.5% |
$60,480 – $64,108 | 3.0% |
$64,109 – $67,954 | 3.5% |
$67,955 – $72,031 | 4.0% |
$72,032 – $76,354 | 4.5% |
$76,355 – $80,935 | 5.0% |
$80,936 – $85,792 | 5.5% |
$85,793 – $90,939 | 6.0% |
$90,940 – $96,396 | 6.5% |
$96,397 – $102,179 | 7.0% |
$102,180 – $108,309 | 7.5% |
$108,310 – $114,707 | 8.0% |
$114,708 – $121,698 | 8.5% |
$121,699 – $128,999 | 9.0% |
$129,000 – $136,739 | 9.5% |
$136,740 and above | 10% |
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.