Australia HECS-HELP Calculator
Calculate your HECS-HELP repayment and estimate years to repay your student debt.
Monthly HECS repayment
A$218.75
A$100.96 per fortnight
Repayment rate
3.5%
Annual repayment
A$2,625
Years to repay
~15 years
| Item | Amount |
|---|---|
| Original debt | A$30,000 |
| Total indexation (CPI) | +A$7,950 |
| Total repaid | A$37,950 |
Repayment schedule
| Year | Balance | Indexation | Repayment | Remaining |
|---|---|---|---|---|
| 1 | A$30,000 | +A$960 | -A$2,625 | A$28,335 |
| 2 | A$28,335 | +A$907 | -A$2,625 | A$26,617 |
| 3 | A$26,617 | +A$852 | -A$2,625 | A$24,843 |
| 4 | A$24,843 | +A$795 | -A$2,625 | A$23,013 |
| 5 | A$23,013 | +A$736 | -A$2,625 | A$21,125 |
| 6 | A$21,125 | +A$676 | -A$2,625 | A$19,176 |
| 7 | A$19,176 | +A$614 | -A$2,625 | A$17,164 |
| 8 | A$17,164 | +A$549 | -A$2,625 | A$15,089 |
| 9 | A$15,089 | +A$483 | -A$2,625 | A$12,947 |
| 10 | A$12,947 | +A$414 | -A$2,625 | A$10,736 |
| 11 | A$10,736 | +A$344 | -A$2,625 | A$8,454 |
| 12 | A$8,454 | +A$271 | -A$2,625 | A$6,100 |
| 13 | A$6,100 | +A$195 | -A$2,625 | A$3,670 |
| 14 | A$3,670 | +A$117 | -A$2,625 | A$1,163 |
| 15 | A$1,163 | +A$37 | -A$1,200 | A$0 |
Australia HECS-HELP Calculator: estimate your student loan repayment
HECS-HELP (Higher Education Contribution Scheme - Higher Education Loan Program) is the Australian government's student loan system. Unlike bank loans, HECS debt does not accrue interest but is indexed annually to CPI. Repayment is made automatically through the tax system when your income exceeds the threshold of A$54,435.
Repayment rates are progressive: starting at 1% for incomes between A$54,435 and A$62,850, increasing gradually up to 10% for incomes above A$159,663. These rates apply to your total income, not just the amount above the threshold, which can result in significant jumps when crossing into a new bracket.
CPI indexation (currently around 3.2%) is applied to your balance on 1 June each year. This means your debt grows with inflation even while you are repaying it. You can make voluntary payments at any time to reduce the balance faster, though since 2017 there is no longer a discount for early payment.
Frequently asked questions
What is HECS-HELP in Australia?
HECS-HELP is the Australian government's student loan scheme for university students. The government pays your tuition and you repay through the tax system once your income exceeds a threshold.
When do I start repaying my HECS debt?
You start repaying when your annual income exceeds A$54,435 (2024-25). The rate starts at 1% and increases progressively up to 10% for incomes above A$159,663.
Does HECS debt accrue interest?
It does not charge interest as such, but is indexed annually to CPI (Consumer Price Index), currently around 3.2%. This means the balance grows with inflation.
Can I make voluntary payments to reduce my HECS faster?
Yes. You can make voluntary payments to the ATO at any time. Since 2017 there is no discount for early payment, but paying faster reduces the impact of indexation.