Lowering the HECS-HELP discount

From 1 January 2012, the Australian Government has lowered the HECS-HELP discount from 20 per cent to 10 per cent for up-front student contribution payments of $500 or more.

This initiative in conjunction with the reduction to the HELP voluntary repayment bonus 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.

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