Does HECS pay the full Uni fee?

Question

Does it pay the full course fee, or just part?

Answer 1

HECS defers the university course fee so that you start to pay it off once you start earning a certain amount per year.

If you choose to pay contribute to your course fee upfront, you get a discount of 20% in contributions over $500. To volunarily pay back a lump sum you owe on HECS you get a discount of 10%.

Most students just use HECS and the start to pay it back after they have graduated and got a full time job. That's what i'll be doing.

Also, you do not get charged interest, but it is adjusted for inflation.

Answer 2

It doesn't actually "pay" for it, it merely defers it until you are above the income threshold for repayment.

My understanding is that in most cases you can choose whether you want a loan for part or the full amount. If you are able to pay part or all of it upfront, you are entitled to a discount.

Answer 3

For HECS help go to http://www.goingtouni.gov.au/Main/Quickf...