The Higher Education Loan Program (HELP) — still commonly called HECS — is an income-contingent student loan. You don't start repaying until your income exceeds the minimum threshold. For FY 2025–26, that threshold is $54,435.

Indexation

Your HELP debt is indexed each year on 1 June. Since 2023–24, indexation is capped at the lower of CPI or the Wage Price Index. This means your debt grows annually, so earning above the threshold and making repayments sooner helps reduce the total amount you'll pay.

Voluntary Repayments

You can make voluntary repayments at any time through the ATO. There's no discount for voluntary repayments (the 5% bonus was removed), but paying extra reduces your balance before the next indexation event, saving you money long-term. Visit the ATO website for more details.