Starting University: Financial Guide
Navigate HECS-HELP, government support, and budgeting as an Australian university student.
$30,000+
Avg Degree HECS Debt
$621
Max Youth Allowance/fn
$67,000
HECS Repayment Threshold (FY 25-26)
$18,200
Tax-Free Threshold
🎓 Understanding HECS-HELP
HECS-HELP lets you defer tuition fees until you earn above the threshold. From FY 2025-26, the threshold is $67,000 (up from $54,435) and uses a new marginal repayment system — you only repay on income above the threshold, not your whole salary.
How It Works (FY 2025-26)
- • Government pays your tuition upfront
- • Debt is indexed at lower of CPI or WPI (no interest)
- • Repayments taken from salary via tax
- • No compulsory repayment below $67,000
- • 15c per $1 above $67,000 (up to $125k)
- • $8,700 + 17c per $1 above $125,000
2025 Reforms
- • Threshold raised: $54,435 → $67,000
- • New marginal repayment system (no cliff effect)
- • 20% one-off debt reduction (1 Jun 2025)
- • Indexation capped at lower of CPI or WPI
- • 2025 indexation: 3.2% (capped)
HECS-HELP Contribution Bands (2024)
| Band | Annual Contribution | Examples |
|---|---|---|
| Band 1 (Humanities, Arts) | $4,421 | English, History, Philosophy |
| Band 2 (Science, Health) | $8,301 | Science, Nursing, Allied Health |
| Band 3 (Law, Commerce) | $11,800 | Law, Business, Accounting |
| Band 4 (Medicine) | $14,500 | Medicine, Dentistry, Veterinary |
3-year degree typical total: $15,000-$45,000 depending on field of study.
Government Student Support
| Payment | Amount | Eligibility |
|---|---|---|
| Youth Allowance (at home) | $303.20/fortnight | Parents income tested |
| Youth Allowance (away from home) | $621.80/fortnight | Parents income tested |
| Rent Assistance (max) | $188.20/fortnight | If paying rent |
| Student Start-up Loan | $1,229/semester | HELP loan, repaid later |
| Energy Supplement | $8.80/fortnight | With Youth Allowance |
| Relocation Scholarship | $5,080 | Regional students, once-off |
Youth Allowance depends on parents' income until you're considered independent (usually 22 or after working).
Typical Student Living Costs
| Category | Cost | Notes |
|---|---|---|
| Textbooks/materials | $200-600 | Buy second-hand or use library |
| Laptop/computer | $800-2,000 | Essential for most courses |
| Rent (share house) | $150-350 | $7,800-18,200/year |
| Food/groceries | $80-150 | $4,160-7,800/year |
| Transport | $20-50 | Student concession |
| Phone/internet | $40-80 | Student plans available |
Part-Time Work While Studying
Tax & Centrelink
- • Earn up to $18,200/year tax-free
- • Youth Allowance: earn $150/fn before taper
- • Payments reduce 50c per $ above limit
- • Working too much may cut you off
Recommended Hours
- • 10-15 hours/week is manageable
- • 20+ hours may affect grades
- • Casual work offers flexibility
- • Relevant work builds experience
Student Money-Saving Tips
Textbooks
- • Buy/sell second-hand
- • Use library reserve copies
- • Check for free online versions
- • Share with classmates
Student Discounts
- • Transport concession card
- • UniDays/Student Beans
- • Spotify/Apple Music student
- • Cinema/restaurant discounts
Living Costs
- • Share housing
- • Meal prep at home
- • Free uni events for food
- • Use uni facilities (gym, etc.)
HECS Calculator
Calculate repayments
Income Tax Calculator
Part-time work tax
Budget Planner
Student budget