FEE-HELP is a loan scheme that assists eligible students to pay their tuition fees. FEE-HELP can cover all or part of a student’s tuition fees. Over their lifetime a student may borrow through FEE-HELP an amount up to the FEE-HELP limit (see How much can I borrow?) to pay their tuition fees. There is a loan fee of 20% for FEE-HELP loans for undergraduate courses of study. The FEE-HELP limit does not include the loan fee.
There is no loan fee for FEE-HELP loans for postgraduate courses, bridging study for overseas-trained professionals, enabling courses or units of study undertaken with Open Universities Australia. For more information about charges on your FEE-HELP debt see: Are there any costs or charges in taking out a FEE-HELP loan?
The Australian Government pays the amount of the loan direct to a student’s higher education provider or to Open Universities Australia in the case of its students. Students repay their loans through the Australian taxation system once their repayment income is above the minimum repayment threshold for compulsory repayment. Voluntary repayments may be made at any time, regardless of income.