How long will it take to pay off my HELP debt?

It depends on your income and balance. Most people take 7-15 years. Use this calculator to project your specific timeline.

Is indexation like interest?

Not exactly. Indexation maintains the real value of your debt against inflation. It's currently capped at the lower of CPI or Wage Price Index, so it tends to be lower than typical loan interest.

Can I pay off HELP early?

Yes. You can make voluntary payments at any time through the ATO. There's no penalty and no bonus - just reduced total indexation over time.

HELP/HECS Repayment Calculator

Calculate how long it will take to repay your HELP/HECS loan

Project your repayment timeline with indexation and wage growth scenarios

Loan Details

Enter your current loan balance and repayment income

Current Loan Balance

Annual Repayment Income

Repayment income includes taxable income, reportable fringe benefits, net investment losses and reportable super contributions.

Loan Type

Tax Year

Repayment Timeline

Your HELP/HECS repayment projection

Current Balance$25,000

Repayment Income$60,000

Annual Repayment$600

Monthly Repayment$50.00

Repayment Rate1.00%

Projection

Years to Repay21 years

Projected Final DateJune 2045

Total Indexation$20,124

Projection Settings

Adjust assumptions for your repayment projection

Debt Indexation Rate (% per year)

Typically around 2-4% per year, based on CPI

Expected Wage Increase (% per year)

Your expected annual wage growth

Repayment Progress

Loan balance and annual repayments over time

How to Use This Calculator

1Enter your current HELP/HECS debt balance
2Enter your expected repayment income
3Select the loan type and tax year
4Adjust indexation and wage growth assumptions if needed
5See your projected repayment timeline and total indexation costs

How Does HELP/HECS Repayment Work?

HELP and HECS are study loan programs where the government pays your tuition fees upfront and you repay through the tax system once you earn above the minimum threshold.

Your debt is indexed each year on 1 June to maintain its real value. The indexation rate is the lower of CPI or the Wage Price Index (from 2023). Repayments are a percentage of your repayment income, not your debt balance.

Factors Affecting Your Repayment Timeline

Income level: Higher income means higher repayment percentage - up to 10% of your entire repayment income.
Indexation: Your debt increases each June. Higher indexation means more total repayment over time.
Wage growth: Rising income pushes you into higher repayment brackets and shortens the timeline.
Voluntary payments: Extra payments reduce your balance and total indexation costs.

Strategies for Faster Repayment

•Make voluntary payments before 1 June to reduce the balance that gets indexed
•Consider lump sum payments from tax refunds or bonuses
•Check your balance regularly on myGov
•If earning below the threshold, your debt still indexes but no repayment is required

Frequently Asked Questions

Official Sources

Estimates only. Not financial or tax advice. Full disclaimer for your rights and our limitations of liability.

Rates and thresholds last updated for the 2024–25 financial year.

Related Tools

HELP Repayment Threshold

View current and future HELP/HECS repayment thresholds and rates

Salary Tax Calculator

See how HELP/HECS repayments affect your take-home pay

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