HECS Repayment Calculator

Annual Repayment Calculator

Figuring out HECS repayments can be confusing (because the rate changes every year!)--It can get tiring especially when you have other financial worries. Maybe you don't know how much you'll need to repay each year or how your income affects your repayments. Many Australians face the same questions and need simple answers to manage their education loans. 

Just use the HECS Repayment Calculator! This tool gives you a clear estimate of how much you'll need to repay, based on your income and other details. Whether you just graduated or have been repaying your loan for a while, understanding your repayment obligations is essential for good financial planning. With a few easy steps, you can enter your income, residency status, and current debt balance to get an instant estimate of your yearly HECS repayment. Manage your finances post-education without taking another “maths” course with our HECS Repayment Calculator. Get an accurate estimate and plan your budget!

HECS Repayment Calculator

Estimate Your Student Debt with Quick HECS Repayment Calculator


This Loan Repayment Calculator helps in determining your compulsory repayment amount for various loan accounts, including the Higher Education Loan Program (HELP). Keep in mind that this is just an estimate. The exact amount will be known after you file your income tax return.

The calculator can also help you figure out repayments for other loans in Australia like VET Student Loan (VSL), Student Financial Supplement Scheme (SFSS), Student Start-up Loan (SSL), ABSTUDY Student Start-up Loan (ABSTUDY SSL), and Trade Support Loan (TSL).

Use Our HECS Repayment Calculator


Our easy-to-use HECS Repayment Calculator can help you make an estimate! This tool is designed for Australian resident taxpayers only. Here’s how to use it:

  • Select Your Income Year: Choose the income year you want to calculate your HECS repayment.
  • Choose Residency Status: Specify if you were an Australian resident for the whole year, part of the year, or not at all.
  • Medicare Levy Exemption: Decide if you are exempt from the Medicare levy or not.
  • Enter Your Annual Income: Input your pre-tax yearly income, including your Australian taxable income. If you're a non-resident, add your estimated net foreign income.
  • Include Other Income or Losses: Add any other income or losses–This includes estimated reportable fringe benefits amounts, net investment losses (including net rental losses), reportable super contributions, exempt foreign income while residing in Australia, and study and training support loans.
  • Report Your HELP Debt: Enter your current HELP debt balance.
  • Calculate Your Repayment: Click “Calculate” and you’ll get your HECS repayment amount within seconds

Understanding How HECS-HELP Loan Calculations Work


What is HECS-HELP

The Higher Education Contribution Scheme-Higher Education Loan Program (HECS-HELP) is a loan program by the Australian Government. It assists eligible students in paying their student contribution amounts for higher education. 

This program is available to Australian citizens and certain permanent humanitarian visa holders studying in Commonwealth Supported Places (CSPs) at approved higher education institutions like universities.

Higher Education Loan Program (HELP)

HELP loans are available from tertiary education institutions such as universities and registered training organizations. The scheme includes several categories based on the type of institution and course:

  • HECS-HELP: For students enrolled in government-sub institutions (Commonwealth Supported Places).
  • FEE-HELP: For students in full-fee paying courses.
  • OS-HELP: For CSP students wishing to study overseas.
  • SA-HELP: For covering student services and amenities fees.

How Does the HECS Repayment System Work


Repaying a HECS-HELP debt depends on your income. Here’s how it works:

Income Threshold

You start repaying your loan when your income exceeds a certain amount. For the 2023-24 income year, this amount is $51,550.

Repayment Rates

The amount you repay is a percentage of your income. This percentage increases as your income increases. For the 2023-24 financial year, repayment rates range from 1% for incomes just above the threshold to 10% for higher incomes. The Australian Taxation Office (ATO) will calculate your compulsory repayment and include it in your income tax notice of assessment. Use our calculator to get an estimate beforehand! 

Debt Indexation

Loan indexation is a mechanism similar to interest but specifically designed to adjust the loan amount in line with inflation. HECS-HELP debts are adjusted for inflation to keep their value. This adjustment is called indexation and happens on June 1 each year. For example, starting June 1, 2024, HECS-HELP debts are expected to increase by 4.7%. So, it means you’ll have more interest than last year. 

HECS Repayment Calculator

Voluntary Repayments and Tax Deductions

You can make voluntary repayments anytime, but these are not tax-deductible. Employers can also make voluntary repayments on your behalf, which might be tax-deductible but could incur fringe benefits tax.

Example Calculation for 2024


Here’s an example for the 2024 income year:

  • Income: Suppose your income is $60,000.
  • Repayment Threshold: The compulsory repayment threshold is $51,550.
  • Repayment Rate: For an income of $60,000, the repayment rate might be 2% (this rate varies based on income brackets).
  • Repayment Amount= 60,000×0.02=1200

So, you would need to repay $1200 for that year through the tax system.

Related Topic: Latest update about HECS Repayment Threshold

Track Your HECS-HELP Repayments


To find out how much you owe on your HECS-HELP debt, you have two options:

  • Call the Australian Taxation Office (ATO) at 1300 650 225. You'll need to provide your tax file number (TFN) before they can give you any details.
  • Check Your Current HECS Debt: See the total amount you owe in HECS-HELP debt through the myGov website linked to the Australian Taxation Office (ATO). You can make payments on this site as well. 
  • Know Your Annual Income: Keep track of your yearly income before taxes. You can find this information on your recent pay slip, job contract, or tax return.

See How Much You’ll Repay - HCES-HELP 2023-2024 Thresholds and Rates

2013-2024–Previous Years HCES Threshold

Understand how the calculator works to calculate your HCES-HELP Repayments. If you can’t then let the HECS Repayment Calculator do it for you! No more guessing or worrying about your student debt. Aside from HCES, we also have a calculator for HELP, VSL, and SSL–Our tool gives you instant estimates based on your income and situation.

Yes, you can make lump sum payments through BPAY or credit card, or arrange salary sacrificing with your employer. Link your ATO Online account to myGov, navigate to Tax > Accounts and Summary, and select the option for a voluntary repayment. (Alternatively, you can repay through annual tax returns)