Calculate HECS repayments using ATO FY2024-25 repayment thresholds.
Calculate HECS repayments using ATO FY2024-25 repayment thresholds. MyCalcTools calculators are designed for quick everyday estimates with clear inputs, instant results and no account required. Results are provided for general information and planning, not as professional financial, medical, legal or trade advice.
The HECS-HELP calculator estimates how much of your student loan you will repay in a given year based on your income, and how long it will take to pay off your total HECS-HELP debt. In Australia, HECS-HELP repayments are income-contingent — you only repay when your income exceeds the minimum repayment threshold, and repayments are made automatically through the tax system.
HECS-HELP debt is indexed each year on 1 June to reflect changes in the Consumer Price Index (CPI). This means your debt can increase over time if your compulsory repayments do not keep pace with indexation. Voluntary repayments can be made at any time through the ATO online services in myGov and directly reduce your debt balance. Repayment rates start at 1% of income at the minimum threshold and increase progressively up to 10% for high incomes. Unlike most debt, HECS-HELP has no interest component beyond CPI indexation, and the debt is cancelled if you pass away before full repayment.
Voluntary repayments can be worthwhile if your debt is growing faster from CPI indexation than you are repaying it compulsorily. In years of high inflation, this can happen on moderate incomes. However, since HECS carries no true interest rate, paying it down faster is generally lower priority than building an emergency fund, reducing high-interest credit card debt, or contributing to superannuation. Assess your full financial picture first.