Tools / Australian Finance Tools / HECS/HELP Repayment Planner
HECS/HELP Repayment Planner 2024–25
Project your HECS/HELP debt-free date with salary growth, CPI indexation and voluntary repayments.
📚 HECS/HELP Repayment Planner — FY 2024–25
Frequently Asked Questions
What is the HECS/HELP repayment threshold for 2024-25?
The minimum repayment threshold is $54,436 for 2024-25. If your income is below this you make no compulsory repayments. Rates range from 1% at $54,436 up to 10% for incomes of $158,891 and above.
How is HECS/HELP debt indexed each year?
HECS/HELP debt is indexed annually on 1 June using the Consumer Price Index (CPI). In 2023 indexation was 7.1%, one of the highest on record. In 2024 it fell to 4.7%. The planner lets you model different indexation rates to see best and worst case scenarios.
Can I make voluntary HECS repayments to pay off my debt faster?
Yes. Voluntary repayments can be made at any time through the ATO myGov portal. There is no minimum and no penalty. Making extra repayments reduces the balance that gets indexed each year, saving money in the long run.
Will my HECS debt be repaid automatically through my employer?
Yes. If your income exceeds the threshold, your employer withholds extra tax from your pay and the ATO applies it to your HECS debt when you lodge your tax return. You do not need to set up separate payments.