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the ultimate HECS/HELP debt guide

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How to Make a Voluntary Payment to Clear Your Debt

Eileen has $30,000 of help debt and it's older than 11 months. The index ation rate is 7%. She can save $3,000 per month based on her income and expenses. Keep all cash in the offset currently at 4.95% against the mortgage. Or she could invest for the long term around 8%, but never guaranteed. When is the best time to make a voluntary payment to clear your debt? Well, you've got to remember the 1st of June each year. You may want to keep that money in a savings account in your own name. Now what happens if I die with help debt? Your help debt does die with you.

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