Hecs Help Explained

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 is currently 4.7% (indexation is added to your debt on 1 June each year).

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.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.

2024-2025 repayment rates
Income Earned	Repayment % rate
Below $54,435	NIL
$54,435-$62,850	1.0%
$62,851-$66,620	2.0%
$66,621-$70,618	2.5%
$70,619-$74,855	3.0%
$74,856-$79,346	3.5%
$79,347-$84,107	4.0%
$84,108-$89,154	4.5%
$89,155-$94,503	5.0%
$94,504-$100,174	5.5%
$100,175-$106,185	6.0%
$106,186-$112,556	6.5%
$112,557-$119,309	7.0%
$119,310-$126,467	7.5%
$126,468-$134,056	8.0%
$134,057-$142,100	8.5%
$142,101-$150,626	9.0%
$150,627-$159,663	9.5%
$159,664 and above	10%