Check Your Help Debt

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How do I find out my HECS debt balance?

  • Contact the ATO on 1300 650 225. You will have to advise the ATO of your tax file number (TFN) before they will disclose any personal information to you; or.
  • View your HELP debt online via the myGov website.
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    How do I check my help debt on myGov?

    If you don't have a myGov account, you can set one up following the instructions on the ATO website or you can call the myGov helpdesk on 13 23 07 (select option 1). The myHELPbalance portal will show your available HELP balance (the amount you have available to borrow using HELP loans). via

    Why is my HECS debt increasing?

    The compulsory repayment rate increases as your income increases. The more you earn, the higher your repayment. Your compulsory repayment is based on your income alone – not the income of your parents or spouse. The repayment thresholds are adjusted each year to reflect any changes in average weekly earnings. via

    Can I check my HECS debt online?

    For a current balance on your HECS-HELP debt you can either: view your HELP debt online via the myGov website. Commonwealth Supported students commencing in 2020 and students with an existing FEE-HELP loan can view their HELP debt online via myHELPbalance. via

    What is the fee help limit?

    The FEE-HELP limit is the total amount you can borrow over your lifetime under the FEE-HELP and VET FEE-HELP/ VET Student Loans schemes. In 2019, the general FEE-HELP limit is $104,440 for most students (a higher limit applies for specific medicine, dentistry and veterinary science courses). via

    How do I pay my help debt?

    You pay back your HELP debt through the tax system once you earn above the compulsory repayment threshold. The compulsory repayment threshold is different each year. The compulsory repayment threshold for the 2021-22 income year is $47,014. The compulsory repayment threshold for the 2020-21 income year was $46,620. via

    Do you have a financial supplement debt?

    Financial Supplement Debt is a financing scheme offered by the Australian government's Social Security office. This can be availed by many people from various walks of life who need the financial means to engage in their desired endeavor, be it business, education, and more. via

    What happens if I don't pay my HECS debt?

    If you do earn over the repayment threshold you will have to start paying your HECS-HELP loan in the form of compulsory repayments or an overseas levy. Be aware that if you don't lodge your tax return or make your compulsory HECS-HELP payments you can face heavy fines up to $3,600. via

    Can HECS debt be written off?

    For now, HECS-HELP debt is still written off upon death, but in the future this could be different. Debt Negotiators stay up-to-date with the latest changes to legislation, and can offer impartial advice about HECS loans and other forms of credit. via

    Can I salary sacrifice my HECS debt?

    Can I salary package additional HECS/HELP debt repayments? Yes you can. Additional HELP repayments can be salary packaged if you wish to pay your HECS/HELP debt off sooner. via

    Do you pay interest on your HECS debt?

    There is no interest charged on HELP debts. However, indexation is added to your debt on 1 June each year. Indexation is applied to your debt to maintain its real value by adjusting it in line with changes in the cost of living. See the ATO website for current and past indexation rates. via

    How much HECS can you borrow?

    What is the HELP loan limit amount? For 2021, the HELP loan limit is $108,232 for most students. The limit for students studying medicine, dentistry and veterinary science courses leading to initial registration, or eligible aviation courses is $155,448. via

    How do I find out if HECS is being paid?

  • contact the ATO on 13 28 61, and provide them with your TFN. With this they are able to verify your personal details and tell you your HECS-HELP balance or.
  • view your HECS-HELP balance online via the myGov site.
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