Enter your current HELP or HECS balance, expected income, and indexation assumption to estimate the projected payoff date, total years to clear, and total amount repaid under 2025-26 compulsory repayment thresholds. Optional voluntary repayments can be modelled to show how much sooner the debt may be cleared.

How does this HELP/HECS payoff calculator work?

You enter your current HELP/HECS balance, your repayment income, and an optional voluntary extra repayment, then adjust two assumptions: the annual indexation rate and your expected income growth. The tool runs a year-by-year projection and estimates when your debt could be cleared and the total you would repay including indexation. The results are an illustrative estimate based on the figures you enter, not a statement of your actual debt - always confirm your balance and obligations with the ATO or a registered tax agent.

What is indexation and what rate applies?

Indexation keeps the real value of your study loan steady - it is applied once a year on 1 June. It is not interest, and HELP debt does not compound the way a normal loan does. The rate applied on 1 June 2026 was 2.8%. For reference, 3.2% was applied on 1 June 2025 and 3.8% in 2024-25. Indexation is set using the lower of the Consumer Price Index and the Wage Price Index, so it varies year to year. The slider lets you test different rates because next year's figure is not yet known.

When do I have to start making compulsory repayments?

Under the 2025-26 system, compulsory repayments begin once your repayment income passes $67,000. Below that threshold your compulsory repayment is $0, although indexation still applies to any outstanding balance. Above the threshold, repayments are worked out on a marginal basis - only the income above each band is charged at that band's rate. The ATO collects compulsory repayments through your tax return, so the amount is assessed after the end of the financial year.

Do voluntary repayments actually help?

They can. Because indexation is applied on 1 June, a voluntary repayment made before that date reduces the balance that gets indexed, which may lower the total indexation you pay over the life of the debt. This calculator applies any voluntary amount you enter before indexation each year to reflect that timing. Whether a voluntary repayment is the best use of your money depends on your wider financial situation - this tool shows the projection only and is not personal financial advice.

Is a HELP/HECS debt like a normal loan?

Not quite. A HELP/HECS debt does not charge interest. Instead it is indexed once a year to keep pace with the cost of living, and it does not compound like a credit card or mortgage. There are also no fixed monthly repayments - compulsory repayments are tied to your income through the tax system, and you can make voluntary repayments at any time. This makes it different from most consumer debt, which is part of why a dedicated projection can be helpful.

Does this calculator use my taxable income?

It uses the repayment income figure you enter, and for most salaried people taxable income is a close proxy. The ATO's full definition of repayment income can also include reportable fringe benefits, net investment losses, reportable super contributions, and exempt foreign income, so if those apply to you the real figure may be higher. Treat the result as an estimate and confirm your repayment income and balance with the ATO or a registered tax agent.