On 1 June 2006, your accumulated HECS (Higher Education Contribution Scheme) debt became an accumulated HELP (Higher Education Loan Programme) debt.

Any HECS-HELP, FEE-HELP and OS-HELP debts you incurred from 1 January 2005 are HELP debts, and will be added together with your HECS debt to become one accumulated HELP debt on 1 June 2006.

This is similar to the current arrangements for HECS, PELS, OLDPS and BOTPLS debts, which are added together and collected as one accumulated HECS debt.

Repaying a HELP debt is similar to repaying a HECS debt. There will still be compulsory repayments made through your income tax assessments, additional amounts withheld through PAYG withholding (to cover your anticipated compulsory repayment), voluntary repayments, a bonus for voluntary repayments and indexation applied to debts on 1 June each year

Disclaimer: This is not advice. Items herein are general comments only and do not constitute or convey advice per se. The information contained in this article is for guidance only and should not be relied upon without obtaining professional advice having regard to your specific circumstances.