HELP (HECS) debt - My money
Filed in: Plan Your Career » Financial »
This is a big financial burden for those who did not pay their university fees up-front. Once you are earning over a pre-determined threshold ($39,825 for 07/08), compulsory repayments will commence. A guide to help you manage your HELP debt is available from the ATO website (http://ato.gov.au/content/downloads/n3913.pdf). If you pay more than the minimum repayments, you will be entitled to a discount. Currently, if you make a repayment of $500 or more, you will receive an additional 10% to put towards your debt.
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by By Robert M. Kliegman, MD, Professor and Chair, Department of Pediatrics, Medical College of Wisconsin, Milwaukee, WI; Richard E. Behrman, MD, Executive Chair, Pediatric Education Steering Committee, Federation of Pediatric Organizations, Menlo Park, CA; Clinical Professor of Pediatrics, Stanford University and the University of California, San Francisco, CA; George Washington University, Washington, DC; Hal B. Jenson, MD, Chair, Department of Pediatrics, Director, Center for Pediatric Research, and Senior Vice-President for Academic Affairs, Eastern Virginia Medical School and Children's Hospital of the King's Daughters, Norfolk, VA; and Bonita F. Stanton, MD, Schotanus Professor and Chair, Department of Pediatrics, Wayne State University, Detroit, MI, USA
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