From 1 January 2017, eligible students will no longer receive a HECS-HELP discount of 10 per cent for paying their student contributions upfront. The Federal Government is also scrapping the voluntary HELP repayment bonus of five per cent. If you’re a current or past student, make sure you make your voluntary repayments this year to minimise your debt.
Under the HECS-HELP rules, eligible students can opt to defer their student contribution and repay it later through the taxation system. Currently, students who elect to pay $500 or more of their fees upfront receive a discount of 10 per cent which is paid by the Government to the students higher education provider. People who have a HELP debt and make a voluntary repayment of $500 or …
Read the full article at: http://www.lifehacker.com.au/2016/11/reminder-the-hecs-help-repayment-bonus-ends-in-janurary/