Student HELP schemes
Source: Australian Taxation Office
Confusion often surrounds HELP loans and many times students are not even aware if they are receiving HECS-HELP or FEE-HELP (this can make a big difference when it comes to tax time and deductions). With so many HELP schemes, it’s no wonder there is confusion.
What are the different HELP schemes?
| Name | for | provides |
| HECS-HELP | eligible students enrolled in Commonwealth supported places | a loan to cover all or part of your student contribution. |
| FEE-HELP | eligible fee-paying students enrolled at an approved higher education provider or Open Universities Australia | a loan to cover up to the full amount of your tuition fees up to a lifetime loan limit. |
| OS-HELP | eligible Commonwealth supported students who wish to undertake study overseas towards their Australian higher education award | a cash loan to cover expenses such as accommodation and travel. |
| VET FEE-HELP | eligible full fee-paying students undertaking vocational education and training (VET) accredited diploma, advanced diploma, graduate diploma and graduate certificate courses with an approved VET provider | a loan to cover up to the full amount of your tuition fees. It is expected to be available to students in the second half of 2008. The same FEE-HELP lifetime borrowing limit also applies. |
Do I have HELP debt?
On 1 January 2005, the Australian Government introduced the Higher Education Loan Program (HELP). This replaces the Higher Education Contribution Scheme (HECS) and other earlier loan schemes.
If the Australian Government lends you money under any of the schemes in the above table, or you have a debt from the previous schemes, you will have a HELP debt.
You will be required to start repaying your HELP debt when your repayment income is above the minimum repayment threshold for compulsory repayment.
This information is for guidance only and is not intended as specific advice to any reader. Professional advice should be obtained before acting on any information contained herein. The publisher accepts no responsibility for loss occasioned to any person or organisation as a result of action or the refrain of action as a consequence of the contents of this publication.