See what your HELP debt costs you each payday, how indexation grows it every June, and how much sooner extra repayments would clear it.
Same engine as the pay calculator
Private — runs in your browser
$
Check myGov → ATO → Loans. The 20% cut was applied in 2025.
$
%
%
2026: 2.8%
$
Paid before 1 June, so they avoid that year's indexation
HELP withheld per fortnight$90 Take-home $2,497.23 vs $2,587.23 without a debt
Compulsory repayment 2026–27$2,171 15% of each extra dollar
Debt-free in17 yrs After the 2042–43 tax return
Indexation you'll pay$10,870 Total repaid $45,870
Your HELP balance over time3% indexation each 1 June · pay rises of 3% a year
Year by year
Income year
Repayment income
Indexation
Repayment
Balance after
2026–27
$84,000
$1,050
$2,171
$33,879
2027–28
$86,520
$1,016
$2,236
$32,660
2028–29
$89,116
$980
$2,303
$31,336
2029–30
$91,789
$940
$2,372
$29,904
2030–31
$94,543
$897
$2,443
$28,358
2031–32
$97,379
$851
$2,517
$26,692
2032–33
$100,300
$801
$2,592
$24,901
2033–34
$103,309
$747
$2,670
$22,978
2034–35
$106,409
$689
$2,750
$20,917
2035–36
$109,601
$628
$2,832
$18,712
2036–37
$112,889
$561
$2,918
$16,356
2037–38
$116,276
$491
$3,005
$13,842
2038–39
$119,764
$415
$3,095
$11,162
2039–40
$123,357
$335
$3,188
$8,309
2040–41
$127,058
$249
$3,284
$5,275
2041–42
$130,869
$158
$3,382
$2,051
2042–43
$134,795
$62
$2,113
$0
Assumes repayment thresholds rise 3% a year. Indexation applies on 1 June, before that year's compulsory repayment is credited when your tax return is assessed.
Compulsory repayment by incomeThe 2025 reforms charge repayments only on income above the threshold
2024–25 (old system)
2026–27 (marginal system)
2026–27 repayment rates
Repayment income
Repayment
Up to $69,528
Nil
$69,529 – $129,717
15c for each $1 over $69,528
$129,718 – $186,050
$9,028 plus 17c for each $1 over $129,717
$186,051 and over
10% of total repayment income
Indexation history
1 June
Indexation rate
2026
2.8%
2025
3.2%
2024
4.0%
2023
3.2%
2022
3.9%
2021
0.6%
2020
1.8%
2019
1.8%
2018
1.9%
2017
1.5%
2016
1.5%
2015
2.1%
2023 and 2024 rates are shown after the reduction to the lower of CPI and WPI; they were originally 7.1% and 4.7%.
Frequently asked questions
What is the HECS-HELP repayment threshold for 2026–27?
You start repaying once your repayment income is above $69,528. Since 2025–26 repayments are marginal: 15c for each dollar above $69,528, 17c for each dollar above $129,717, capped at 10% of your total repayment income (from about $186,051).
Does salary sacrificing reduce my HELP repayments?
No. Repayment income adds back reportable super contributions (salary sacrifice and personal deductible contributions), reportable fringe benefits and net investment losses. It also includes exempt foreign employment income.
When is indexation applied?
On 1 June each year, to debt that’s been outstanding for more than 11 months. The rate is the lower of CPI and the Wage Price Index (legislated in 2024 and backdated to 2023). It was 2.8% in 2026. Compulsory repayments withheld during the year are only credited after your tax return is assessed, so they don’t reduce that year’s indexation.
Should I pay off my HECS early?
Your debt grows only with inflation, and voluntary repayments aren’t tax-deductible. If you have credit card debt, pay that first. After that, compare the indexation rate with what the money would earn after tax in savings or a mortgage offset account. Paying early can still make sense if you want lower pay deductions, or you’re applying for a mortgage where the debt reduces your borrowing power.
Was my HELP debt cut by 20%?
Yes, if it existed on 1 June 2025. The ATO applied the 20% reduction to your balance at that date, before the 2025 indexation, and finished processing all accounts by June 2026.