HECS-HELP Upfront Discount and HELP Voluntary Repayment Bonus

The HECS-HELP upfront discount (10%) and the HELP voluntary repayment bonus (5%) will continue for the time being as the legislation to implement the 2013–2014 Budget changes to the HECS-HELP program, to take effect from 1 January 2014, has not been passed by the Senate.

This means that, until further notice, if you pay off your debt or make a voluntary repayment of $500 or more, you will still receive a discount of 10% or bonus of 5%. The bonus is 5% of the value of the payment made, not 5% of the outstanding debt. You will not receive a bonus on repayment amounts that exceed the balance of your HELP account.

REPAYING YOUR HELP DEBT 2013–2014

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