What are the current HELP repayment rates?
Salary Packaging with a HECS-HELP debt
HECS-HELP repayment threshold and repayment rates for 2024-25 income year:
| HECS-HELP repayment income (HRI) | Repayment % rate |
|---|---|
| Below $54,435 | Nil |
| $54,435 – $62,850 | 1% of HRI |
| $62,851 – $66,620 | 2.0% of HRI |
| $66,621 – $70,618 | 2.5% of HRI |
| $70,619 – $74,855 | 3.0% of HRI |
| $74,856 – $79,346 | 3.5% of HRI |
| $79,347 – $84,107 | 4.0% of HRI |
| $84,108 – $89,154 | 4.5% of HRI |
| $89,155 – $94,503 | 5.0% of HRI |
| $94,504 – $100,174 | 5.5% of HRI |
| $100,175 - $106,185 | 6.0% of HRI |
| $106,186 - $112,556 | 6.5% of HRI |
| $112,557 - $119,309 | 7.0% of HRI |
| $119,310 - $126,467 | 7.5% of HRI |
| $126,468 - $134,056 | 8.0% of HRI |
| $134,057 - $142,100 | 8.5% of HRI |
| $142,101 - $150,626 | 9.0% of HRI |
| $150,627 - $159,663 | 9.5% of HRI |
| $159,664 and above | 10% of HRI |
*HRI = Taxable income plus any total net investment loss (which includes net rental losses), total reportable fringe benefits amounts, reportable super contributions and exempt foreign employment income.
Source of information: Loan repayment - StudyAssist, Australian Government
Disclaimer: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Employers should independently consider whether a benefits program is appropriate for their organisation and seek advice where appropriate. Conditions and fees apply, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your organisation’s approval. Maxxia may receive commissions in connection with its services. Maxxia does not act as your agent or representative (or provide you with any advice or recommendations) in respect of the purchase of any vehicle.