The Daily Aus Your HECS debt questions, answered
Jul 31, 2025
A recent government move has slashed HECS student debts by 20%, causing a buzz among borrowers. The discussion explains how this discount affects those who have already paid off their debts and clarifies what HECS and HELP debts entail. Potential refunds and the timeline for adjustments are also examined, with insights into how these legislative changes will ease repayment burdens, particularly for lower-income earners. Listeners are encouraged to act quickly to maximize benefits from the new policies.
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One-Time 20% HECS Discount
- The 20% HECS discount applies only once to the debt balance as of June 1, 2023.
- It does not lower the cost of university degrees nor future student debts.
Discount Applies to All HELP Debts
- The discount applies to all HELP debts from any accredited institution, including private universities.
- All student debts are processed the same way by the federal government.
Pay Off Debt Early, Still Benefit
- If you had a debt on June 1 but paid it off after, you will receive a credit or refund.
- Do not delay paying off your HECS debt before the discount takes effect, as you will still be compensated.