Student Debt — 2024–25
HECS-HELP Repayment Calculator
Estimate your compulsory annual HECS-HELP repayment based on your income and current debt balance, using the latest 2024–25 ATO thresholds.
Your Details
2023 indexation: 7.1%. 2024: 4.7%. Long-term avg ≈ 3–5%.
2024–25 Repayment Rates
| Income | Rate |
|---|---|
| $54,435+ | 1.0% |
| $62,850+ | 2.0% |
| $66,620+ | 2.5% |
| $70,618+ | 3.0% |
| $74,855+ | 3.5% |
| $79,346+ | 4.0% |
| $84,108+ | 4.5% |
| $88,756+ | 5.0% |
| $94,321+ | 5.5% |
| $100,519+ | 6.0% |
| $106,267+ | 6.5% |
| $112,643+ | 7.0% |
| $119,760+ | 7.5% |
| $126,956+ | 8.0% |
| $134,572+ | 8.5% |
| $141,960+ | 9.0% |
| $150,458+ | 9.5% |
| $159,689+ | 10.0% |
Repayments are withheld via PAYG. Assumes income stays constant. Does not account for income growth.
Annual HECS Repayment
$2,625
Repayment Rate
3.5%
Years to Repay
16 yrs
Total Repaid
$40,900
Repayment Schedule
| Year | Opening Balance | Indexation | Repayment | Closing Balance |
|---|---|---|---|---|
| 1 | $30,000 | $1,200 | $2,625 | $28,575 |
| 2 | $28,575 | $1,143 | $2,625 | $27,093 |
| 3 | $27,093 | $1,084 | $2,625 | $25,552 |
| 4 | $25,552 | $1,022 | $2,625 | $23,949 |
| 5 | $23,949 | $958 | $2,625 | $22,282 |
| 6 | $22,282 | $891 | $2,625 | $20,548 |
| 7 | $20,548 | $822 | $2,625 | $18,745 |
| 8 | $18,745 | $750 | $2,625 | $16,870 |
| 9 | $16,870 | $675 | $2,625 | $14,920 |
| 10 | $14,920 | $597 | $2,625 | $12,891 |
| 11 | $12,891 | $516 | $2,625 | $10,782 |
| 12 | $10,782 | $431 | $2,625 | $8,588 |
| 13 | $8,588 | $344 | $2,625 | $6,307 |
| 14 | $6,307 | $252 | $2,625 | $3,934 |
| 15 | $3,934 | $157 | $2,625 | $1,466 |
| 16 | $1,466 | $59 | $1,525 | $0 |
How HECS-HELP Repayments Work
Unlike commercial loans, HECS-HELP debt does not accrue interest. Instead, it is indexed each year on 1 June to the Consumer Price Index (CPI), reflecting inflation. Repayments are compulsory once your income exceeds the minimum threshold.
How Repayments Are Collected
Your employer withholds HECS repayments via PAYG withholding when you declare your HELP debt on your tax file number (TFN) declaration. The ATO reconciles the exact amount at tax time based on your taxable income.
Voluntary Repayments
You can make voluntary repayments at any time via the ATO's online services. While the 5% bonus for voluntary repayments was removed in 2021, paying ahead still reduces the balance exposed to annual CPI indexation.