When you defer your fees, you take up the option of a HELP loan.
Higher Education Loan Program (HELP) loans are available to eligible domestic students studying at an approved higher education provider. There are a variety of HELP loans available.
You can defer the full amount of your fees or pay a proportion of your fees up front and defer the balance. If you are considering full or partial payment of your fees, it's worth thinking it through. Some questions you might consider include:
While there is no interest charged on your loan, it is indexed on 1 June each year so that the amount owed increases in line with inflation.
Example: one year of HECS debt
You will need to start making repayments on your HELP loan when you earn over the compulsory repayment threshold ($45,881 in 2019-20), even if you are still studying.
Notify your employer that you have a HELP debt so that they can deduct these repayments from your pay along with your tax. Otherwise you may have the payment amount debited from your tax return or receive a bill at tax time.
More information about repaying your HELP loan: