1. HECS-HELP True or False?
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2. What is the HECS-HELP Scheme?
University is a place where adults can go to learn new and exciting things!
The HECS-HELP scheme is a loan provided by the Australian Government to eligible students studying at all public universities and some private higher education providers. The loan helps to pay for your tuition fees. Can you guess which statements about HECS-HELP are true and which are false?
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3. Under the HECS-HELP scheme, your degree will cost you at least $50,000.
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4. The amount you pay depends upon what and where you study
The amount you pay depends upon what and where you study. Universities can choose how much to charge students but maximum amounts are set by the government. For more information, please visit:
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5. You have to pay your loan back as soon as you graduate.
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6. You only have to pay your loan back once you earn above a certain salary threshold. This threshold is adjusted every year. For the tax year it is $54,126. For up to date information, visit:
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7. When you reach the salary threshold and start to pay back the loan, the money is taken directly out of your salary by the ATO.
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9. All international students are eligible for the HECS-HELP scheme.
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10. You must be an Australian citizen or permanent humanitarian rights visa holder.
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11. When you earn more, you pay back more of your HECS-HELP loan.
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12. For up to date information, please visit: http://studyassist. gov
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13. If you can’t repay the loan due to financial difficulties, the government will immediately take you to court.
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14. You can apply to defer repayments on your loan.
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15. If you have some spare money, you can make voluntary repayments to pay off your loan faster.
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17. You must pay 12% interest on your loan.
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18. Loans are indexed in line with the cost of living, as measured by the Consumer Price Index (CPI). Between 2010 and 2015, this rate was 3% or lower. For up to date information, please visit:
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19. HECS-HELP does not cover accommodation, food and transport.
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20. You will have to cover these costs yourself
You will have to cover these costs yourself. However, you may be eligible for government support or you may wish to apply for a scholarship. You can find out more about scholarships at:
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