Some Aussie friends said university is free if you're a citizen—Is that true?
Many people wonder if studying for a bachelor's degree in Australia is really free, especially when Aussie friends say it costs nothing. Well, it's not entirely free, but thanks to a brilliant system called HECS-HELP, it almost feels like it!
What is HECS-HELP?
HECS-HELP is a government loan scheme for Australian citizens studying in Commonwealth-supported bachelor’s degree programs. (For postgraduates, it's called FEE-HELP.) It's similar to Thailand’s student loan system but with some awesome benefits:
🔸 0% Interest for Life
There’s no direct interest. Instead, the loan amount is indexed annually based on CPI (Consumer Price Index) to reflect inflation.
🔸 Repay Only When You Earn Enough
You'll only start repaying when your income reaches $54,435 AUD/year (2024–25 financial year). Below that? No payment required!
🔸 Fair Repayment Rates (1–10%)
Repayment percentages scale with your income. Higher income means higher repayments, but still manageable.
🔸 No Income = No Payment
If you lose your job, earn less, or become ill, repayments pause automatically. They resume only when you're back on your feet.
🔸 Debt is Not Inherited
If you pass away before repaying, the debt is wiped clean—your family won’t inherit it.
HECS-HELP Example Scenario
Suppose an Aussie citizen studies a 3-year Bachelor of Nursing. After graduation, they earn $72,000/year.
- Tuition Fee: Around $13,000 AUD/year
- Annual Income: $72,000 AUD
- Repayment Rate: 3.0% → Repays $2,160 AUD/year (about $41.54/week)
- Approx. Repayment Time: 6 years
2024–25 HECS-HELP Repayment Income Thresholds
| Annual Income (AUD) | Repayment Rate (%) |
|---|---|
| $0 – $54,435 | 0.0% |
| $54,436 – $62,735 | 1.0% |
| $62,736 – $66,022 | 2.0% |
| $66,023 – $69,222 | 2.5% |
| $69,223 – $72,398 | 3.0% |
| $72,399 – $77,619 | 3.5% |
| $77,620 – $81,381 | 4.0% |
| $81,382 – $85,081 | 4.5% |
| $85,082 – $91,026 | 5.0% |
| $91,027 – $100,613 | 6.0% |
| $100,614 – $106,555 | 6.5% |
| $106,556 – $112,728 | 7.0% |
| $112,729 – $119,244 | 7.5% |
| $119,245 – $126,115 | 8.0% |
| $126,116 and above | 10.0% |
In Summary
Australia may not offer 100% “free education,” but HECS-HELP is the next best thing! No upfront fees, no interest, and pay only when you can. Plus, it’s not a burden to your family. A truly student-friendly policy!
#hecshelp #studynursingAustralia #atomdeknurse
