7 ways to keep a lid on HELP

There are steps students can take to minimise – and manage – HELP debt.

1 Think carefully about where you study

While maximum limits apply, HECS fees vary between universities. For example, in 2023 a firstyear Bachelor of Arts (BA) student attending the University of Sydney can pay HECS of about $15,142. At Charles Sturt University in regional NSW, the same student could pay around $12,900.

2 Pay HECS upfront if possible

Pay $500 or more upfront off your HECS bill to score a 10% discount. Ideally, make voluntary payments before June 1 each year when HELP debt is indexed upwards.

3 Exit subjects before census date

If you plan to quit a course or subject, do so before census date. That’s typically the last day you can withdraw from a subject before HECS applies.

4 Pay as you go

When you graduate, let your employer know you have a HECS-HELP loan. The boss is required to deduct extra tax from your regular pay, which helps to gradually reduce your debt rather than leaving you lumbered with a big amount each tax time.

5 Avoid failing subjects

If you fail a subject and have to repeat, you’ll pay a second lot of HECS. If you’re struggling, speak to tutors, your course coordinator and student advisers. It’s not just about HELP debt. Failed subjects are listed on your academic transcript.

6 Know your HECS-HELP limit

There is an upper limit to the HELP debt students can accumulate. For most students starting in 2023, the maximum is $113,028. A higher limit of $162,336 applies to medicine, dentistry and veterinary science courses.

7 Stay engaged with your HELP debt

Keep track of your HELP debt to ensure you stay within your HELP loan limit and check repayments are being accurately recorded. Head to myHELPbalance.gov.au to check your balance.

It’s not for everyone, but in late 2022, a new scheme kicked in that sees doctors and nurses who live and work in regional and remote areas of Australia eligible to have 100% of their HECS debt eliminated.