The legislation to implement the 2013-14 Budget changes to the HECS/HELP program, to take effect from 1 January 2014, has not been passed by the Senate. As a result, the HECS/HELP upfront discount and the HELP voluntary repayment bonus will continue for the time being. This means that, until further notice, if you pay off your debt or make a voluntary repayment of $500 or more, you will still receive a bonus 5%.
NOTE: The bonus is 5% of the value of the payment made, not 5% of the outstanding debt. You will not receive a bonus on repayment amounts that exceed the balance of your HELP account.
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