Changes to voluntary repayments

From 1 January 2012, the HELP voluntary repayment bonus has decreased from 10 per cent to 5 per cent on all voluntary repayments that are $500 or more.

This initiative in conjunction with the reduction to the HECS-HELP discount will generate approximately $479 million in savings over 4 years. This funding will support the Government’s commitment to fund a demand driven supply of undergraduate places which will ensure that all Australians, particularly those from low income families, have the opportunity to participate in higher education.