Help Repayment Rates 2023

Posted 16 Jun

2023 income year HELP repayment rates and thresholds

The Higher Education Loan Program income levels and repayment rates for the 2023 income year have been released and are as follows:

HELP repayment income Repayment rate (% of HELP repayment income)
Below $48,361
$48,361 - $55,836
$55,837 - $59,186
$59,187 - $62,738
$62,739 - $66,502
$66,503 - $70,492
$70,493 - $74,722
$74,723 - $79,206
$79,207 - $83,958
$83,959 - $88,996
$88,997 - $94,336
$94,337 - $99,996
$99,997 - $105,996
$105,997 - $112,355
$112,356 - $119,097
$119,098 - $126,243
$126,244 - $133,818
$133,819 - $141,847
$141,848 and above
Nil
1.0%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
9.5%
10.0%


For more information on HELP debt loan repayments, visit the Australian Government's Study Assist website.

Editor: It is possible for some employees, earning more than $180,000 and who also have a HELP debt, to have a marginal rate of PAYG withholding of 57%, taking into account the highest marginal rate plus Medicare levy of 47%, plus an additional 10% HELP repayment.

Ref: StudyAssist website, accessed 29 April 2022

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