Managing your HELP debt
How is my available HELP balance calculated?
It is your responsibility to keep track of your HELP loan borrowings to ensure you do not exceed the HELP loan limit.
Your available HELP balance is your HELP loan limit of that given year, minus your HECS-HELP, FEE-HELP, VET FEE-HELP and VET students loans borrowing.
Taking out a loan will reduce your available HELP balance, and making repayment will increase your available HELP balance.
What is the combined HELP loan limit?
The combined HELP loan limit is a cap on what you can borrow from the Australian Government to cover the costs of your tuition fees. It includes all FEE-HELP. VET FEE-HELP, VET student loans and HECS-HELP (with a census date from 1 January 2020). You can find the most up-to-date information on HELP loan limits on the StudyAssist website.
How much can I borrow?
Once you begin using your HELP loan limit, the amount of HELP you have left to borrow is know as your available HELP balance. It is your responsibility to keep track of your HELP loans and repayments to ensure you have enough available HELP balance to pay for your study. You can borrow up to the combined HELP loan limit detailed below.
| Year | Limit |
|---|---|
| 2024 | $121,844 $174,998 for medicine, dentistry, veterinary science or eligible aviation courses |
| 2025 | $126,839 $182,172 for medicine, dentistry, veterinary science or eligible aviation courses |
You can find the most up-to-date information on HELP loan limits on the StudyAssist website.
How can I keep track of my HELP balance?
You can view your available HELP balance through the myHELPbalance website. You will need your USI or CHESSN, student ID number and personal details to log in to the website.
If you've reached your combined HELP loan limit, you'll need to pay your student contribution (tuition fees) upfront before the census date. If you don't pay your remaining fees, your enrolment will be at risk and may be cancelled after the census date for failing to meet the requirements of your enrolment.
When do I need to pay back my HELP debt?
You begin to pay back your HELP debt to the Australian Taxation Office (ATO) once you earn above the compulsory repayment threshold. The compulsory repayment threshold is different each year. You can find more information on HELP debt repayments on the StudyAssist website.
Proposed changes to HELP indexation.
The Australian Government is proposing changes to reduce the indexation that is applied to HELP loans. The proposed change is to apply the lower indexation rate of the Consumer Price Index or the Wage Price Index. This change, once passed, will take effect from 1 June 2023.
After the passage of the relevant legislation, the revised indexation rates will be automatically applied by the Australian Taxation Office to your loan.
You can calculate the HELP indexation credit applicable to your HELP debt by using the HELP Indexation Credit Estimator.