Bob.J
ZoOm
what i meant was whole 20% over the whole hecs fee due when you pay the full amount
um never mind
um never mind
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HECS 20% discount if you pay $500 or over (1 Viewer)
- Thread starter emi ye
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Bob.J
ZoOm
so that you can pay it back to the ATO when your income is over the first thresholddeviation said:
CrashOveride
Active Member
If you waned to pay the full amount, say your course was $4K, then you would only pay $3.2KBob.J said:
dougthelegend
Member
the simple explanation.
fees are say $5000 for the course per year, you have the option of paying this upfront and only paying $4000, or taking an interest-free loan from the government for the amount. Of course, you can do a little of both, pay as much or as little as you like and take a loan for the rest of it.
The loan is indexed at the rate of inflation each year, meaning you can end up paying more than you originally took out - but the difference is usually marginal at best.
The loan is payed back through the tax system (hence the need to provide your TFN), meaning you don't physically part with any money, just your first few jobs you'll get paid a little less than what you would if you didn't have to pay back your loan.
You don't start paying back the loan until you earn over a certain threshold amount, which again is indexed yearly so it changes, meaning when you're paying back the loan you won't be stone broke.
Personally i'll be deffering the whole amount, because the loan is interest free and the most flexible finance you'll get your hands on.
fees are say $5000 for the course per year, you have the option of paying this upfront and only paying $4000, or taking an interest-free loan from the government for the amount. Of course, you can do a little of both, pay as much or as little as you like and take a loan for the rest of it.
The loan is indexed at the rate of inflation each year, meaning you can end up paying more than you originally took out - but the difference is usually marginal at best.
The loan is payed back through the tax system (hence the need to provide your TFN), meaning you don't physically part with any money, just your first few jobs you'll get paid a little less than what you would if you didn't have to pay back your loan.
You don't start paying back the loan until you earn over a certain threshold amount, which again is indexed yearly so it changes, meaning when you're paying back the loan you won't be stone broke.
Personally i'll be deffering the whole amount, because the loan is interest free and the most flexible finance you'll get your hands on.