From 1 July 2020, all study and training loans are covered by one set of thresholds and rates.
In addition, the hierarchy in which compulsory repayments are applied to study and training loans, was changed to the following.
- HELP
- VSL
- SFSS
- SSL
- ABSTUDY SSL
- TSL
Note repayment income (RI) is taxable income plus any total net investment loss (which includes net rental losses), total reportable fringe benefits amounts, reportable super contributions, and exempt foreign employment income.
| Repayment threshold
2020 – 21 income year |
Repayment rate
(% of repayment income) |
Repayment threshold
2021 – 22 income year (for reference) |
| Below $46,620 | Nil | Below $47,014 |
| $46,620 – $53,826 | 1.0% | $47,015 – $54,281 |
| $53,827 – $57,055 | 2.0% | $54,282 – $57,538 |
| $57,056 – $60,479 | 2.5% | $57,539 – $60,991 |
| $60,480 – $64,108 | 3.0% | $60,992 – $64,650 |
| $64,109 – $67,954 | 3.5% | $64,651- $68,529 |
| $67,955 – $72,031 | 4.0% | $68,530 – $72,641 |
| $72,032 – $76,354 | 4.5% | $72,642 – $77,000 |
| $76,355 – $80,935 | 5.0% | $77,001 – $81,620 |
| $80,936 – $85,792 | 5.5% | $81,621 – $86,518 |
| $85,793 – $90,939 | 6.0% | $86,519 – $91,709 |
| $90,940 – $96,396 | 6.5% | $91,710 – $97,212 |
| $96,397 – $102,179 | 7.0% | $97,213 – $103,044 |
| $102,180 – $108,309 | 7.5% | $103,045 – $109,226 |
| $108,310 – $114,707 | 8.0% | $109,227 – $115,678 |
| $114,708 – $121,698 | 8.5% | $115,679 – $122,728 |
| $121,699 – $128,999 | 9.0% | $122,729 – $130,091 |
| $129,000 – $136,739 | 9.5% | $130,092 – $137,897 |
| $136,740 and above | 10.0% | $133,898 and above |
HELP rates for 2020-2021