Changes to Higher Education Loan Programme for 2012
The following changes to the HECS-HELP Discount and Voluntary Repayment Bonus are effective 1 January 2012:
HECS-HELP Discount
The HECS-HELP discount applied to up front student contribution payments of $500 or more made directly to the University, will be lowered from 20 per cent to 10 per cent effective 1 January 2012.
Voluntary Repayment Bonus
When making voluntary repayments of a HELP (which includes HECS-HELP, FEE-HELP and VET FEE-HELP) debt directly to the Australian Tax Office (ATO), the voluntary repayment bonus, applied to payments of $500 or more, will be lowered from 10 per cent to 5 per cent effective 1 January 2012.
Any student wishing to make a voluntary repayment before the bonus changes, should visit the ATO website www.ato.gov.au/hecs for updated information on how to make voluntary repayments.
Where to find out more
For more information please visit www.goingtouni.gov.au/.
