Hello, what happens if one retires because of ill health and cannot pay back the loan?

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Hi Lynette,

If your income doesn't meet the threshold then you do not have to make compulsory payments.

- Money team

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Hello, what about the 10% discount for early voluntary repayments? Is it worth deferring to HECS HELP then repaying it that way to get the discount?

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Hi Jane,

The 10% discount for voluntary repayments no longer exists. It was discontinued by the Federal Government in January 2017.

- Money team

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Hi, is the HRI threshold calculated per individual or per household? If my partner has a HECS-HELP debt but earns bellow the minimum HRI whilst I earn above 80K, will she be required to repay at 7% or more? Thanks

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Which way is wise? is it paying off at the time I lodge the tax return or paying the borrow amount without indexation? Does paying at the time I lodge the tax return bring the widthholding tax down?

Thanks

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Hi,

I have a HECS debt of 17k remaining and my employer would pay roughly 10k of that debt once i lodge my tax return. If i make a voluntary payment of the remaining ~7k before the EOFY, would I be left with no debt in the next financial year? Or will I need to pay the entire 17k upfront and the 10k or so get refunded to me after the tax return is lodged?

Thanks!

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Hello, how long does HECS wait for you to payback the first amount of the debt?

Thanks.

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