HELP debt
$30,000HELP Debt Repayment Calculator
Model your HELP debt repayment timeline with CPI indexation and income-based repayments
HECS/HELP Lab
HELP debt repayment calculator
Estimate how long it will take to repay your HELP debt based on income, CPI indexation, and optional voluntary payments.
Snapshot
Compulsory repayment rate
3.5%Annual compulsory repayment
$2,625Years to repay
10 yearsTotal indexation (CPI)
$6,602Total repaid
$36,602Year-by-year schedule
10 years
Year 1
$28,425Indexation $1,050 | Compulsory $2,625Income $75,000 @ 3.5%Year 2
$26,716Indexation $995 | Compulsory $2,704Income $77,250 @ 3.5%Year 3
$24,468Indexation $935 | Compulsory $3,183Income $79,568 @ 4.0%Year 4
$22,047Indexation $856 | Compulsory $3,278Income $81,955 @ 4.0%Year 5
$19,020Indexation $772 | Compulsory $3,799Income $84,413 @ 4.5%Year 6
$15,773Indexation $666 | Compulsory $3,913Income $86,946 @ 4.5%| Year | Opening | Indexation | Compulsory | Closing | Income | Rate |
|---|---|---|---|---|---|---|
| 1 | $30,000 | $1,050 | $2,625 | $28,425 | $75,000 | 3.5% |
| 2 | $28,425 | $995 | $2,704 | $26,716 | $77,250 | 3.5% |
| 3 | $26,716 | $935 | $3,183 | $24,468 | $79,568 | 4.0% |
| 4 | $24,468 | $856 | $3,278 | $22,047 | $81,955 | 4.0% |
| 5 | $22,047 | $772 | $3,799 | $19,020 | $84,413 | 4.5% |
| 6 | $19,020 | $666 | $3,913 | $15,773 | $86,946 | 4.5% |
| 7 | $15,773 | $552 | $4,478 | $11,847 | $89,554 | 5.0% |
| 8 | $11,847 | $415 | $4,612 | $7,650 | $92,241 | 5.0% |
| 9 | $7,650 | $268 | $5,225 | $2,692 | $95,008 | 5.5% |
| 10 | $2,692 | $94 | $2,786 | $0 | $97,858 | 5.5% |
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FAQs
How is HELP debt different from a regular loan?
HELP debt has no interest rate. Instead, the balance is indexed annually by CPI (Consumer Price Index). Repayments are compulsory and based on a percentage of your income, not a fixed monthly amount.
When do I start repaying my HELP debt?
Compulsory repayments begin once your income exceeds the minimum repayment threshold, which is $54,435 for 2024-25. The repayment is collected through the tax system.
What is CPI indexation on HELP debt?
Each year on 1 June, your HELP debt is indexed by CPI. For 2024-25, the indexation rate is approximately 3.5%. This effectively increases your debt balance, similar to interest but tied to inflation.
Should I make voluntary HELP repayments?
Since 2017, there is no bonus or discount for voluntary repayments. Whether to pay voluntarily depends on comparing the CPI indexation rate against potential investment returns. Use our Voluntary vs Invest calculator for a detailed comparison.