Who do I call about HECS debt?
Call one of the numbers below to ask your question over the phone: The Australian Taxation Office (ATO) can tell you how much you owe and how to repay your HELP debt. Their phone number is 13 28 61. via
Does your HECS debt ever get wiped?
The HECS-HELP scheme is designed to help eligible students to pay for their education with loans and discounts. HECS debt accumulated during this time is different to other types of debt, and repayments are based on your income rather than the amount you have left to pay. Ultimately, the debt is cleared upon death. via
How do I find out my HECS debt?
Can you dispute HECS debt?
In most cases, the fastest way to resolve your debt grievance is to go directly to your training provider. All training providers are required to have a formal complaints process. The provider's complaints handling process must accept your complaint about your VET FEE‑HELP debt or VET Student Loans debt. 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
How long does it take for HECS to be approved?
Your application may take up to 28 days to be processed. 3. Once you have received your Tax File Number, send an email including your name, Student Identification Number and Tax File Number to [email protected] must be done by the census date. NB: You must have a TFN to complete a FEE-HELP and SA-HELP Form. via
What happens if you never pay your HECS?
As mentioned and under the current law, if a person doesn't pay off their HECS/HELP debt before they pass away, that debt is wiped. As of 2019, the Government has written off the student debts of 9,000 people, and a further 18,000 people with student debt are expected to die over the next 10 years. 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
Do banks look at your HECS debt?
In short, yes. When you apply for a home loan, a lender will ask you to provide details of your income and expenses, as well as your assets and liabilities. This includes providing information on any student debt you have, whether that's HECS-HELP debt, FEE-HELP or some other form of student loan. via
Does debt get wiped after 7 years?
New South Wales is the only territory where a debt is completely cancelled after the statute of limitations. This means that you can still make attempts to recover the debt, but you need to tread carefully. Once a debt is statute barred, all you can do is ask for payment. via
How much do you pay back on HECS?
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
What is the new HECS threshold?
The compulsory HECS repayment threshold for the 2021-22 income year is $47,014. For the 2021-22 income year, the compulsory repayment HECS-HELP threshold is $47,014. To calculate your HECS-HELP debt repayments just tick the appropriate box on our tax calculator. via
Is it worth paying HECS early?
Advantages to early repayment
Making voluntary contributions will definitely help pay down the loan faster. Any voluntary repayments will be a credit to your HELP balance. via
How long does HECS debt last?
At this rate, it's going to take you at least 4 years to pay off your HECS. via
How do I stop paying my HECS debt?
Once you have determined that your debt is payed or close to being paid, you will need to complete a Withholding declaration form and mark question 6 on the form as no and return in to your employer to stop the payment being deducted from your income. via