HECS-HELP Repayment Calculator
Calculate your Australian student loan repayments based on your income and see when you'll pay off your debt.
Australian Student Loan Calculator
Enter your HECS-HELP debt and income to calculate your repayments
Understanding HECS-HELP
What is HECS-HELP?
HECS-HELP is an Australian Government loan scheme that helps eligible students pay their university tuition fees. Unlike traditional loans, you don't make regular repayments. Instead, repayments are automatically deducted from your salary through the tax system once your income exceeds the minimum threshold (currently around A$51,550).
How Repayments Work
- Repayments based on your total income
- Rates range from 1% to 10% of income
- Automatically deducted via PAYG tax
- No repayments if income below threshold
- Voluntary repayments can be made anytime
Indexation Explained
- HECS debt is interest-free
- Indexed annually to CPI (1 June)
- Maintains real value of debt
- Usually lower than loan interest rates
- Voluntary payments before June avoid indexation
Tips to Pay Off Faster
- Make voluntary repayments when possible
- Pay before 1 June to avoid indexation
- Consider lump sum payments from bonuses
- Higher income means faster repayment
- Check your balance via myGov regularly