Arguments over the income level when repayments start have a while to run yet.
The federal government’s 2017 Budget included a proposal to lower the income level at which university students have to start paying off their HELP debt to $42,000. That was a controversial idea, in part because $42,000 is only 20% above the minimum wage.
In an event, there wasn’t enough support for the idea in the Senate, where the current government doesn’t hold a majority. So now we’ve seen a tweak of the concept introduced as part of the mid-year economic and fiscal outlook (MYEFO). That will see the proposed threshold rise ever-so-slightly to $45,000 from 1 July 2018.
If you’re earning $4…
Read the full article at: https://www.finder.com.au/paying-off-your-university-help-debt