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Reduction of HELP discount and voluntary bonus

News story

From 1 January 2012, the up-front HECS-HELP discount for eligible students (Australian citizens and Permanent Humanitarian visa holders) upon upfront payment of their student contribution (totalling $500 or more) attracted a 10% discount, instead of the 20% discount offered pre-2012. This was in accordance with the Higher Education Support Act 2003.

In addition, the HELP voluntary repayment bonus (applied to upfront voluntary payments of $500 or more), received by eligible students who paid directly to the Australian Taxation Office, was reduced from 10% to 5%.

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