HELP loan schemes: what does it mean?

CourseFinder Team

July 1, 2016

Cost can be a big deterrent when you’re deciding whether to study. Thankfully, the government’s HELP loan schemes give you the freedom to study with no upfront costs. Find out more about how HECS-HELP, FEE-HELP and VET FEE-HELP can help you reach your goals sooner.

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.

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.

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.

HELP loan schemes: what does it mean?

HECS-HELP

Am I eligible?

When do I starting paying back my loan?

Is there anything else I need to know?

FEE-HELP

Am I eligible?

When do I starting paying back my loan?

How much can I borrow?

Is there anything else I need to know?