Do you know your FEE-HELP from your HECS-HELP, and your indexation from your eligibility? You might have heard of the government’s Higher Education Loan Program (HELP), but getting your head around it is another thing altogether. We’ve put together these handy fact sheets to help you make sense of HECS-HELP and FEE-HELP, and everything in between.
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 2024-25 is $54,435.
Is there anything else I need to know?
HECS-HELP debts don’t incur interest, but are indexed on 1 June each year in line with the Consumer Price Index (CPI).
The indexation rate for 2024 is 4.7%.
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 2024-25 financial year only. For more information, visit StudyAssist [www.studyassist.com.au].
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.
FEE-HELP
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.
Am I eligible?
You must:
- Be enrolled in an eligible unit of study, offered by an approved FEE-HELP provider, by the census date; AND
- Be an Australian citizen undertaking one unit of study in Australia; OR
- Be a permanent humanitarian visa holder, residing in Australia for the duration of your unit; OR
- Be a permanent visa holder undertaking bridging study for overseas-trained professionals, and residing in Australia for the duration of study.
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 2024-25 is $54,435.
How much can I borrow?
In 2024 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.
Is there anything else I need to know?
A 20% loan fee applies to FEE-HELP loans accessed by full fee paying/fee for service students. The loan fee does not count towards your FEE-HELP limit.
Your HELP debt is indexed each year on 1 June to reflect changes in the Consumer Price Index (CPI).
The indexation rate for 2024 is 4.7%.
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 2024-25 financial year only. For more information, visit StudyAssist [www.studyassist.com.au].
To get started with your FEE-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.